A Leading Provider in Equipment Financing

No Startup Company is Typical

Their Equipment Financing Partner and Credit Limit Shouldn’t be Either

Startup business financing

Startup companies are not typical. Many have different equipment financing needs than established businesses do. Yet, when it comes to approving equipment financing, traditional lenders tend not to treat startups the same as established companies. Numbers are plugged in to a financial formula and decisions are churned out based on the output. Also, banks typically have a set $25,000 – $50,000 credit limit available to startups. This puts startups and those with a less-than-stellar credit history at a disadvantage, making it less likely or nearly impossible for them to acquire the amount of funding needed to get their businesses off the ground and grow to their potential.

It’s often repeated that more than half of new businesses fail during their first year. According to the Small Business Association (SBA), this isn’t necessarily true. The SBA states that only 30 percent of new businesses fail during their first two years, 50 percent during the first five years and 66 percent during the first 10. The SBA goes on to state that only 25 percent make it to the 15+ years mark.

How would their owners having access to funding change these statistics? With the right planning, funding and flexibility, businesses have a better chance of succeeding. In terms of financing, Global Financial offers equipment financing options to help startups in every stage of development.

When Other Lenders Say No, We Often Says Yes™

For startups, a bank or bank-type financial institution’s rejection of their credit application doesn’t have to be the end of the road. When other “A-type” credit lenders won’t finance an equipment lease, Global Financial & Leasing Services (GFLS) can review the credit package using a type of metric that is different from those used by financial institutions that rely strictly on financial performance and credit history.

Financial performance-based reviews for “A-type” credit considers profit & loss (P&L) statements and balance sheets. However, GFLS is a leading provider in equipment financing for “B-type” and “C-type” credit, so our team relies on a startup’s “story” rather than its P&L statement and balance sheet to make credit decisions. Reviewing “stories” versus accounting reports is how we often say yes, when other financial institutions say no.

Giving “Credit” for a Startup’s “Story”

Working with “B-type” and “C-type” credit applications, we must make decisions based on the best business metrics we can develop for each application without the benefit of perfect credit on the startup applicant’s side. Our credit application types often don’t allow us to build a neatly wrapped package to send to the credit committee. Startup owners with less-than-perfect credit histories still can be approved for equipment financing based on their “story.”

Other “B-type” and “C-type” credit lenders use a scoring method similar to large financial institutions that lend only to “A-type” applicants. This method ranks specific items from the credit report and time in business, etc. and adds up to a final score. The application is approved or rejected based on that score, which defeats the purpose and often ends in rejecting the financing.

Our team understands that scoring applications on the same criteria that banks do will result in the same outcome for the applicant. So instead, we also look at the character of the principal(s), cash flow, collateral and more. We add good old business sense and the best analytical reasoning we can to that information and make a credit decision in 24 to 48 hours.

READ: HOW TO PACKAGE YOUR “STORY”

Typical Credit Limits are Limiting for Startups

Traditional banks that finance equipment for startups typically have a set limit under $50,000. Since many startups’ needs are not typical, this amount can fall short of what is really needed. Much like we review applicants’ “stories” to determine whether to approve funding, also we consider the startup’s need and intended use for funding rather than work from a set limit.

GFLS has more flexibility on how much equipment financing they can approve than most companies that finance startups. We can fund applications up to $1 million dollars. GFLS’s team understands what it takes to be a successful startup. Jim Jenks, founder and CEO, has been a part of four different startups in his career, with GFLS being the most recent successful venture.

If you have a compelling “story”, experience, a business plan and find your startup limited due to restricted lending amounts, see what a difference applying for equipment financing with GFLS makes.

People Are Talking . . .

Executive Director, Surgery Center

Judi, please accept my thanks to you and the team there for the very nice cookie basket. We received it this morning and it was a big hit with our staff. Your thoughtfulness is much appreciated and admirable. Again, my thanks to you and Larry for the smooth financing transaction we just completed. Have a great weekend. Now I have to go find some milk.
Global Financial and Leasing Client Testimonials
2019-03-20T07:18:42-07:00
Judi, please accept my thanks to you and the team there for the very nice cookie basket. We received it this morning and it was a big hit with our staff. Your thoughtfulness is much appreciated and admirable. Again, my thanks to you and Larry for the smooth financing transaction we just completed. Have a great weekend. Now I have to go find some milk.

Jeffrey L., FPC Financial Partners

Jerald Collens and Global Financial and Leasing Services have been great in helping me get some of my deals done that I otherwise would not have been able to close. Jerald looks at all aspects of the deal in order to find a solution that suits my clients.
Global Financial and Leasing Client Testimonials
2019-03-20T07:40:58-07:00
Jerald Collens and Global Financial and Leasing Services have been great in helping me get some of my deals done that I otherwise would not have been able to close. Jerald looks at all aspects of the deal in order to find a solution that suits my clients.

Office Manager, Podiatrist

I sincerely appreciate your response on this holiday weekend. You’re a true professional and your dedication with assisting clients has always been honorable. May the remainder of your weekend be enjoyable!
Global Financial and Leasing Client Testimonials
2019-03-20T07:21:41-07:00
I sincerely appreciate your response on this holiday weekend. You’re a true professional and your dedication with assisting clients has always been honorable. May the remainder of your weekend be enjoyable!

Taylor M., General Financial

Your company has helped touch the hearts of both new, and returning mutual clients across the US. Jerald Collens continues to show excellence in his career, and still goes out of his way to make himself available at all times to satisfy our demanding clients needs. We are proud to have a funding partner in our industry that is dedicated to finding a way to say “yes” to every single clients unique circumstances, when other funding sources typically say “no”.
Global Financial and Leasing Client Testimonials
2019-03-20T07:41:17-07:00
Your company has helped touch the hearts of both new, and returning mutual clients across the US. Jerald Collens continues to show excellence in his career, and still goes out of his way to make himself available at all times to satisfy our demanding clients needs. We are proud to have a funding partner in our industry that is dedicated to finding a way to say “yes” to every single clients unique circumstances, when other funding sources typically say “no”.

Malcolm, President Specialty Contracting Company

Judi, thanks for your support. We are building something here and having folks like yourself on our side makes all the difference!
Global Financial and Leasing Client Testimonials
2019-03-20T07:22:06-07:00
Judi, thanks for your support. We are building something here and having folks like yourself on our side makes all the difference!

T. Poague

Been with these guys for over a year they helped me get my business started it hasn’t went as planned but these guys have worked with me in every way possible my hats off to to mr Ira ,Mrs Judi and mr Sean guarantee I will use them for any of my business financing if possible Great folks

Global Financial and Leasing Client Testimonials
2019-06-27T06:11:01-07:00
Been with these guys for over a year they helped me get my business started it hasn’t went as planned but these guys have worked with me in every way possible my hats off to to mr Ira ,Mrs Judi and mr Sean guarantee I will use them for any of my business financing if possible Great folks

IT/Telecom Vendor Sales Rep

Judi, the thanks is all yours!! You made this happen very smoothly. I am your loyal customer from here on.
Global Financial and Leasing Client Testimonials
2019-03-20T07:22:31-07:00
Judi, the thanks is all yours!! You made this happen very smoothly. I am your loyal customer from here on.

R. Lowery

Had a great experience with Patrick. He was very knowledgable with regard to our specific needs! Thank you!

Global Financial and Leasing Client Testimonials
2019-06-27T06:12:47-07:00
Had a great experience with Patrick. He was very knowledgable with regard to our specific needs! Thank you!

JH, Medical Vendor Rep

Thank you, Judi, you are the best ... So understanding of the complexities of this crazy industry and compassionate enough to work with people in difficult circumstances, there is a special place in heaven for you and Jim.

Global Financial and Leasing Client Testimonials
2019-03-20T07:26:35-07:00
Thank you, Judi, you are the best ... So understanding of the complexities of this crazy industry and compassionate enough to work with people in difficult circumstances, there is a special place in heaven for you and Jim.

Byron Waters

Great folks over at Global. Julian and his Team have helped us out several times always an easy process

Global Financial and Leasing Client Testimonials
2019-06-27T06:13:06-07:00
Great folks over at Global. Julian and his Team have helped us out several times always an easy process

CP – Medical Vendor

I want to thank you both so much for doing a wonderful job with my customers. You truly go the extra mile to assist them with their financing needs.
Global Financial and Leasing Client Testimonials
2019-03-20T07:32:35-07:00
I want to thank you both so much for doing a wonderful job with my customers. You truly go the extra mile to assist them with their financing needs.

Alyson

Very good people.

Global Financial and Leasing Client Testimonials
2019-06-27T06:13:28-07:00
Very good people.

SS, Medical Vendor

I certainly appreciate all the effort and hard work that you put into our customers. Your dynamics show us even when the financial situations are shaky that you still come through with positive outcome. Thank you so much for your hard work!
Global Financial and Leasing Client Testimonials
2019-03-20T07:32:54-07:00
I certainly appreciate all the effort and hard work that you put into our customers. Your dynamics show us even when the financial situations are shaky that you still come through with positive outcome. Thank you so much for your hard work!

Michael B.

Not be any happier with this company.

Global Financial and Leasing Client Testimonials
2019-06-27T06:40:57-07:00
Not be any happier with this company.

President, Plumbing Company

Just wanted to thank you again! I just picked up five new vehicles from a lease I acquired from your friend! I am so excited! Again I cannot thank you enough for all that you have done for me!
Global Financial and Leasing Client Testimonials
2019-03-20T07:37:24-07:00
Just wanted to thank you again! I just picked up five new vehicles from a lease I acquired from your friend! I am so excited! Again I cannot thank you enough for all that you have done for me!

Hollie Aneshansley

Amazing opportunity these wonderful people gave me♡

Global Financial and Leasing Client Testimonials
2019-06-27T06:41:30-07:00
Amazing opportunity these wonderful people gave me♡

President, Plumbing Company

Just wanted to thank you again! I just picked up five new vehicles from a lease I acquired from your friend! I am so excited! Again I cannot thank you enough for all that you have done for me!
Global Financial and Leasing Client Testimonials
2019-03-20T07:37:57-07:00
Just wanted to thank you again! I just picked up five new vehicles from a lease I acquired from your friend! I am so excited! Again I cannot thank you enough for all that you have done for me!

Shaun Land

Great organization to work with. Very friendly staff and a good business partner.

Global Financial and Leasing Client Testimonials
2019-06-27T06:41:50-07:00
Great organization to work with. Very friendly staff and a good business partner.

J, Medical Vendor

It was the best quarter in my 4+ years at XXX!! You guys were a BIG part of it!! Thank You!!!
Global Financial and Leasing Client Testimonials
2019-03-20T07:38:11-07:00
It was the best quarter in my 4+ years at XXX!! You guys were a BIG part of it!! Thank You!!!

R. Morris, CFO & Treasurer SerenaGroup, Inc.

Global 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 Global for your financing needs as you will be dealing with people who truly practice what they preach.
Global Financial and Leasing Client Testimonials
2019-03-20T07:38:25-07:00
Global 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 Global for your financing needs as you will be dealing with people who truly practice what they preach.