YES! We Can Provide Equipment Leasing
For Start-Ups & New Businesses!
A Start-up is a brand new business that is beyond the "idea" stage and either about to open for business or has just opened. A Business operating less than two years is generally termed "new." Both start-up and new businesses are historically perceived to involve additional credit risk and consequently the lease payments may be somewhat higher and the credit standards more stringent.
For most start-up applications the principals' personal credit rating will be carefully reviewed along with their personal financial recourses. The business plan and the principals' related experience will also be evaluated.
All start-ups transactions should have following verifiable characteristics:
- Business Checking Account
- Business Name—Corporation, Partnership or other name filed with the appropriate provincial authority
- Business Telephone Directory Listing (actual or ordered)
We can show you financial reporting techniques that will improve the positive analysis of your business.
The minimal types of information needed are:
- Personal Guarantees from all owners with 10% or greater ownership
- Personal Financial Statement plus the last two years income tax returns of all guarantors
- Clean personal credit on all guarantors
- New Business Profile
- Pro-Forma (projections) for the new business
- Evidence of having sufficient capital in the business to meet its daily commitments
- Detailed equipment description
Please note that Baylore is not a venture capital company and we normally do not get involved in equity or sub debt type financing opportunities.