Start-Ups & New Business Leasing?

YES, We Can!

About Equipment Leasing For New Businesses

Start-up leasing is for brand new businesses that are beyond the "idea" stage and either about to open for business or that have just opened. Businesses operating 12-23 months are generally termed "new." Both start-up and new businesses have historically incorporated additional credit risk and consequently the payments may be somewhat higher and the credit standards more stringent. For most start-up applications the principals' personal credit will be carefully reviewed along with their previous earnings history.

The business "idea" and the principals' related experience will also be evaluated. However, a new business is still a new business and the business plan, no matter how compelling and the principals' experience no matter how significant, will not override poor personal credit or lack of any previous credit.

All start-ups transactions must have a minimum of the following verifiable characteristics prior to funding:

	Business Checking Account
	Business Name--Corporation, LLC, Partnership or other name filed with the appropriate state authority
	Business Telephone Directory Listing (actual or ordered)

In addition, we will require the following on all start-up and new business transactions:

	Personal Guarantees from all owners with 10% or greater ownership.
	First Capital "New Business Profile"
	Detailed Equipment Description & Vendor List
	Lease Payments By ACH (Lessee must pre-authorize monthly lease payments via electronic debit)
	Signed Lease Proposal. First Capital's lease proposal will describe the terms of the lease approval we expect to obtain. A Good Faith Deposit (the greater of $250, or 3% of the lease request) is required to cover First Capital's review, analysis and due diligence on your lease request. 100% OF THE GOOD FAITH DEPOSIT WILL BE APPLIED TO YOUR APPROVED LEASE, upon funding. In the event your request is not approved, the Good Faith Deposit will be refunded in full, less $49. Please review the Good Faith Deposit terms.

Start-Up Equipment Leasing Programs -- General Parameters.

(Credit is about financial history and a track record of honoring previous obligations--and that's exactly what start up's don't have. We understand. So we will look to the good personal credit of the owners whenever possible, without that however there's nothing else to make a credit decision on)

We offer 3 basic start-up leasing programs:

Application Only to $35,000. First Capital will consider start-up's for as much as $35,000, based on First Capital's standard one-page application, clean personal credit and a business or personal bank reference for all owners (at least 3 month history to verify a low four-figure balance in good standing ).

Extended Credit to $50,000. First Capital will consider requests to $50,000 with clean personal credit and the following documentation for all owners:

- Standard One-Page Application

- Personal Financial Statement

- Pro-Forma (projections) for the new business

- Last Two Years Tax Returns (call for details)

- First Capital "New Business Profile"

- Evidence of an alternate source of income (i.e. other business ownership, real estate income, working spouse etc.)

This program may offer slightly more aggressive payments on transactions between $5,000 and $30,000 as well, because of the additional financial disclosure.

Structured Start Up / New Business transactions to $200,000, or more. We will consider larger transactions with the same details as the "Extended Credit" program with a cross-corporate guarantee and/or when collateralized with unencumbered real estate, CD's, letter's of credit, marketable securities, cash-value life insurance or other liquid assets.

Restaurants & Retail Food/Beverage -- A Special Case

Yes, we can even fund start-up restaurant leasing ("ground zero") and foodservice requests, subject to the following:

Start-Up Restaurant & Retail Food/Beverage to $15,000. (brand new/ground zero) Maximum term may be limited to 36 months. All owner's must have excellent credit scores (approx. 700+), clean personal credit and:

- Standard One-Page Application

- Personal Financial Statement

- Pro-Forma (projections) for the new business

- Last Two Years Tax Returns

- First Capital "New Business Profile"

- 5-20% Security deposit at closing

New Restaurant & Retail Food/Beverage Application Only to $35,000. ("New" defined as operating at least one year, verifiable). First Capital will consider "new" foodservice leases for as much as $35,000, based on First Capital's standard one-page application, clean personal credit and a business or personal bank reference for all owners (at least 3 month history to verify a low four-figure balance in good standing). No lunch trucks/carts. Pro-forma projections for the new business are a plus.

	Multiple Location Restaurant Expansion, or
	New Ownership of Existing Retail Food/Beverage to $75,000. Existing location must have minimum time in business of 2 years. All principals must have clean personal credit. Name, physical proximity and owners experience are part of criteria. New location will be considered at Start-Up rates. Call for specific details.
	New Retail Food/Beverage Structured to $200,000, or more. We will consider larger transactions with clean personal credit AND when collateralized with unencumbered real estate, CD's, letter's of credit, marketable securities, cash-value life insurance or other liquid assets.

Documents You May Need from Download Materials.

QuickLease Application, Personal Financial Statement, New Business Profile


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