Leasing Companies who cater to clients with less than good credit

Hello Tony -

The big question is how is this companies and owners credit is doing today?  The next question is how big is the deal you are working on.  This will determine what leasing company may be able to help you out with your deal.

You have a few options available that work in the office imaging business:

Time Payment - their rates are high, fees are high and they are tough on documentation, but they do approve customers with tough credit.

Marlin - Marlin is a big step up from Time Payment in terms of rates and what they offer.  They can be very accommodating on credit.  Their rates are very competitive

Lease Corporation of America - LCA does not take bad credit customers, but they do look deeper into an applicants credit profile.  They are willing to overlook weak business credit if a Personal Guarantor is strong.  On the PG side, they may overlook a personal bankruptcy if the it has been discharged more than 5 years and the PG is clean since the BK and they a strong enough personal credit report.  If the customers credit is still too weak, LCA also has the ability to syndicate the deal to a higher risk source if needed.

If you want to provide some additional details, I can look into and see where the best fit will be. 

Lease Maestro 

Awesome response!!

We used Marlin several months ago for a customer we could not approve through 6 other sources.  My client has been happy with the Customer Service and billing so far.  It was a production deal too which made me happy to get them approved.

If I had no other choice except Marlin, I MIGHT consider using them but I also might seriously consider just walking away. Yes they are that bad. You might do a search on this site and read some of the horror stories.

Just pray that your customer always pays on time and does not ever wish to terminate early (he can't). You will also be competing against Marlin at the back end.

We have been using CoActiv (now element) for deals with lower credit and also Leaf has been pretty good for us. I refuse to use Marlin now as we have never had good dealings with them. I did run across Providence Capital the other day and had a deal where the customer had no credit whatsoever and the customer came up with a solution where they would lease the system for 24 months but would put down a deposit of something like 2,500.00. They accepted these terms but 4 months later we still haven't been able to finish the deal because they will not accept the signature of the person who is assigned to sign the lease. Long story short if you can wait 4 months for a deal to close, Providence will wheel and deal with you. We ended up just selling her the machine instead of dealing with them after all the issues.