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1. Minimum 2 Years in Business under same Ownership.*
(When the business is less than 2-3 years old, the principals must have significant prior experience in the same type of industry.)
2. Satisfactory Dun & Bradstreet Report, Paynet, or other Business Report, if applicable.
3. Satisfactory Bank and Trade References with one comparable trade, lease, or loan references.
4. Without any comparable credit references, Dun & Bradstreet Report, or a Paynet report, financial statements may be required.
5. Credit Bureau Scoring: Equifax – BEACON=>680
No unresolved liens, judgments, suits, or substantial collections. (If business is under three years old, bureau must report either a two year satisfactory payment history on a mortgage or two installments accounts.)
6. Personal Guarantees from all major owners of privately-owned businesses or closely held corporations are generally required.
7. Spouses’ Guarantees may be required when a credit decision has been based on Joint Personal Financial Information.
8. The Lease Term should not exceed Time in Business plus one year.
1. Minimum 3 years in Business under same Ownership.*
(When the business is less than 2-3 years old, the principals must have significant prior experience in the same type of industry.)
2. Satisfactory, Established Bank and Trade References.
3. Satisfactory Dun & Bradstreet Report, Paynet, or other Business Report (if available).
4. Two years Business Financial Statements and/or Tax Returns. (unless submitting application under our $50K App-Only Program Parameters)
5. Lease requests over $35,000 for companies in business less than 4 years, should include personal tax returns and PFS’s of all majority owners.
6. Clean Credit Bureau Reports on Principals – BEACON=>700
7. Personal Guarantees from all major owners of privately-owned businesses or closely-held corporations are generally required.
8. Spouses’ Guarantees may be required when a credit decision has been based on Joint Personal Financial Information.
*Exceptions to the Time in Business Requirement will be considered for start-up professional industries such as physicians, dentists, attorneys, etc. or case-by-case exceptions will be considered.
1. Over 5 yrs. time in business under same ownership.
2. Beacon scores of personal guarantors = > 725. No history of suits, judgments, liens, or bankruptcies.
3. Bank reference with 2-3 year history and at least a moderate
5 fig. average balance.
4. Two satisfactory trade refs with at least one satisfactory
comparable debt reference.
5. Clean Equifax Small Business credit report or D & B report, as appropriate.
6. Clean Paynet report (if sufficient data is reported, Paynet report may replace above requirement for trade references).
“I was greatly pleased with all Madison Capital's flexibility in working with the needs of a small business like mine. They followed through on all aspects of the transaction and the customer support has been excellent.”
–K.C. Hopson, www.EventRebels.com