Typical Minimum Credit Criteria for Ascentium Capital Finance Products
Ascentium Capital is committed to providing you with the information you need to make good financial decisions – simply, clearly and in plain language. All applications are subject to credit approval and will be individually reviewed. Typically,
we require at least the below for the applicant and the applicable owners but other factors may impact our credit decision so meeting the below requirements does not guarantee approval.
Equipment Financing
- On most of our transactions, we require a personal guaranty from individuals who represent a minimum of 51% of the applicant’s ownership. Applicants that are publicly traded entities or are qualified not for profit organizations may be considered
without personal guarantors.
- A minimum of 2 years in business unless the application is being submitted with a corporate guarantor that exceeds 2 years in business with common ownership in a related field or industry.
- A FICO score of 650 or greater, and authorization to pull credit, for all personal guarantors.
- No bankruptcy in last 10 years.
- Approved equipment vendor.
Working Capital Business Loan
- We require a personal guaranty from individuals who represent a minimum of 51% of the applicant’s ownership.
- A minimum of 2 years in business unless the application is being submitted with a corporate guarantor that exceeds 2 years in business with common ownership in a related field or industry
- No bankruptcy in last 10 years
- A FICO score of 650 or greater, and authorization to pull credit, for all personal guarantors
- 3 months of bank statements showing deposit activity
Ascentium also has referral relationships with other finance companies
Even if your business does not meet the above requirements, it’s possible that we may still be able to facilitate your request for financing. We encourage you to apply.
If you have any questions regarding your business financing needs, please pick up the phone and call for a no-obligation consultation and let Ascentium help you find the best solution for your needs.
