Can I Finance Equipment with a 640 Credit Score?

650 is a common make-or-break number in the equipment financing world. A credit score of 649—a mere one-point difference—can be a canyon wide enough to keep a business owner from being able to finance equipment. Think about that. Falling one point short of a set credit score can squash a dream, kill a great idea and keep a company from reaching its potential.

All business owners with more than a 20 percent equity position in a company typically guarantee a financing transaction. Therefore, personal credit scores play a large role in financing an equipment. Traditional big banks require a 700+ credit score to consider you eligible for financing. And, “B” lenders use the 650 mark as their cut-off point.

Can you finance equipment with a 640 credit score? 649? Basically, any score below 650? Yes, you can, if you work with a Direct Lender who specializes in lending to people in that credit range, like Global Financial & Leasing Services (GFLS). Unlike many other lenders, we work with all credit types and do not have a minimum FICO score to qualify for equipment financing. Nor do we have other disqualifying measures such as prior bankruptcies, tax liens, judgments, foreclosure or ridged industry restrictions.

Sound too good to be true? It’s not. Here are just two real-life testimonials from our clients.

“Global Financial & Leasing Services provided our company with financing resources when every other firm said no. Both Jim and Judi Jenks have been supportive beyond any experience I’ve had with other financing firms. Their professionalism and ‘going the extra mile’ for their client was the norm, not the exception. I highly recommend GFLS for your financing needs, as you will be dealing with people who truly practice what they preach.”

CFO & Treasurer, SerenaGroup, Inc.


“Global Financial & Leasing Services has allowed our business the growth we needed and given us an exceptional partner we can count on. Other leasing firms were merely interested in looking for certain numbers to meet in the short term. J.D. Jenks, GFLS’s CEO, understood our business model and why we needed what we needed.”

President, Wound Care Management Company

Is Equipment Leasing an Option for Your Business?

Equipment Leasing is a great option for business owners, especially those with bad credit. When you lease equipment, you make a monthly payment for an agreed-upon term. At the end of the lease, you may have the option to purchase the equipment. When compared to the possibility of not starting your business or trying to make do without essential equipment that could have a massive positive impact on your efficiency, profit and ability to compete, it’s the smart choice.

Build a partnership with a lender who makes credit decisions based on your business’s whole picture. While other lenders use an unyielding scoring model, GFLS looks at:

  • Your business’s cashflow
  • Your time in business
  • The type of equipment for which you’d like to finance a lease
  • The reason(s) your credit is blemished

Back in 2008, the Great Recession caused a great number of foreclosures, some just a matter of luck and timing. In 2009, GFLS was created to meet the equipment financing needs of small to mid-sized businesses all over the United States, who had been frozen out by the banks for any number of credit blemishes. GFLS’s team believes character is more than just a credit score.

LEARN MORE: Ways to Fund Equipment Purchases or Leases for Your Startup Business

GFLS provides equipment financing solutions with no hard cap on the amount for a wide range of companies and a wide range of credits with no minimum FICO score requirement. If you have been shut out of the credit market, let our team peel back the layers of your credit history to reveal value and create a structure that will work for you. Ready to learn more? Let’s talk about the possibilities. Or, get started today by filling out an online application.