Can I Get Equipment Financing with Bad Credit?

Yes - and here’s how to improve your chances.

If you’ve been turned down by a bank or are worried about your credit score, don’t give up. At Republic Equipment Capital, we work with lenders who understand the realities of running a blue collar business - and who offer options designed specifically for startups, subprime borrowers, and small contractors.

1. Yes, Financing with Bad Credit Is Possible

Many lenders today offer equipment loans to buyers with credit scores as low as 550. The key is working with a lender who is flexible and willing to look beyond the score alone.

2. What Else Do Lenders Look At?

Even if your credit isn’t perfect, lenders often consider:

• Business income or recent contracts

• Time in business (some accept startups)

• The value and condition of the equipment

• Your willingness to put money down

You may also be asked for 3 months of bank statements to show consistent deposits or income.

3. How to Strengthen Your Application

If your credit is below average, you can boost your chances by:

• Putting 10% down if possible

• Getting a co-signer (business partner or family member)

• Choosing equipment that holds strong resale value

• Bundling additional items (like trailers or locators) into one loan

Final Word: Your Score Isn’t the Whole Story

Your credit is one piece of the puzzle-but the right lender will look at your business potential, not just your credit history. That’s where REC comes in. We help contractors and business owners secure equipment financing that fits their reality-not the bank’s checklist.