Is bad credit issues making it hard to get approved for the Garland 36ES33 36E commercial electric range financing? We can help you. Top Financial Resources has extensive experience in financing businesses with bad credit. Our company looks at the reasons why there might be a bad credit showing on your business or you individually. Divorce, health issues, children in college might cause credit to drop. Top Financial Resources looks at the whole reasons why your restaurant might need refinancing or restaurant equipment financing to increase or grow your business. Leasing and financing additional restaurant equipment for a business can boost profits, expand networks, and accumulate faster ROI’s. Nonetheless, investing in equipment can be expensive and might hurt your restaurant’s cash flow. Here is where Top Financial Resources commercial electric range financing gets in the picture.
We make judgment calls every day to assist you or our clients rebuild businesses while assisting build credit. We understand bad things happen even to good people. We can work through bad credit, bankruptcy, and foreclosures as far as it is all appropriately documented. We will give you the lease for your Garland 36ES33 36E or get you financing while working on getting you the best terms and interest rate available. Top Financial Resources has the ability to get you financed today! We specialize in difficult-to-get loans, and we have been successfully offering bad credit equipment finance and lease all over the US.
Description of the Garland 36ES33 36E commercial electric range
Garland 36ES33 36E is a heavy-duty electric range. It features 36″, (six) coil elements, storage base, stainless steel front, 3″ high vent riser, and sides and front rail. It rests on 6″ legs to provide stability and is cSSAus, NSF certified.
Standard features of the Garland 36ES33 36E commercial electric range
- 152mm(6″) adjustable chrome-plated legs (NSF)
- 76mm (3″) high stainless steel vent raiser
- Chrome plated, four-position removable rack guides w/ oven rack
- Comes with a heat resistant, cool to touch the oven door handle
- Electro‑mechanical heavy‑duty oven thermostat
- One Year limited labor and parts (USA & Canada)
- Six tubular compounds, each controlled by three-heat switches
- Stainless steel front rail
- Stainless steel sides and front
Optional features of the Garland 36ES33 36E commercial electric range
- 152mm(6″) adjustable stainless steel legs
- Additional oven rack
- Stainless steel main back (R&S models)
- Swivel casters complete with front brakes (4)
- Marine equipment- storm rails for pots, oven door latch, handrails, drip tray stop, and deck fasteners
- NOTE: Ranges supplied with casters should be installed with an approved restraining device
What is commercial electric range financing?
Like traditional equipment loans, bad credit equipment financing supply companies with funds for equipment. However, unlike other loans, they might likewise be accessible for business owners who have been denied elsewhere due to reasons like credit defaults, part IX debt agreements, bankruptcy, and other possible credit issues. Pro tip: Try not to put many inquiries on your credit file by applying to many lenders. If you have bad credit and need a commercial gas range, try not to stress it. We have been securing business equipment loans for people with a challenged credit history.
Why should we work together to finance the Garland 36ES33 36E?
If you have found the electric range you want to finance, come and speak to us or contact us at 1-(800)-260-5126 or email us through [email protected], and we can walk you through the relevant finance options. Some of the best reasons to work with us are:
- Fast approval
- We finance both new and used commercial electric range
- We only need proof of income- tax returns are not essential
- Flexible and fixed monthly repayments
- Paid defaults are okay
- Flexible terms
- Tailored customer care
- Over 90-percent approvals
- Fast approvals
- Bad/poor credit and startups acceptable
- Financing up to $1000,0000
What terms are available for Garland 36ES33 36E financing?
We provide all kinds of loan terms for restaurant equipment finance options. However, most loan terms vary between two and seven years.
Why choose Top Financial Resources?
Top Financial Resources makes funding your restaurant quick and straightforward. You would not want to let a bad credit score prevent your dreams from becoming a reality, would you? We know this and will work with you to get the finance or lease you need when you need it. We have a good track record in that four out of five applicants get accepted, most of them within 48 hours. Besides, we will not keep you in limbo, wondering about the state of your finance application. Our business is based on trust and not mistrust.
How can I get restaurant equipment financing with bad credit?
The best thing you can do is speak to our loan specialists, such as our Top Financial Resources team. Trying to acquire a loan with a bad credit history by yourself will be hard. Be honest and open about your credit report, and if you can pay down or even consolidate your present debts, it will improve your prospects.
Ways to lease Garland 36ES33 36E with bad credit
When leasing any restaurant equipment, there are two kinds of leases: capital leases, also known as finance leases- and operating leases. These two are differentiated by how the lease contract is designed and if the lease’s effective intent is eventual ownership of the appliance by the lessee.
Generally, capital leases are any lease where the appliance ownership is converted to the lessee at the end of the term or if a purchase option is reasonably certain to be exercised. Also incorporated is any lease for a significant section of the equipment’s remaining life and any lease where the lease payments equal a substantial percentage of the leased equipment’s total value. Typically capital leases are seen on longer-term leases for costly equipment, as well as equipment that is anticipated to remain functional for ten years or more. Capital leases come with the added advantage of depreciation, and business owners can even make excessive use of accelerated depreciation utilizing Sectio 179. In line with current updates to capital lease criteria, more leases are being classified as capital.
Think of an operating lease as an effective lease that does not meet the criteria to be regarded as a capital lease. If the leased asset has a shelf life that significantly exceeds the length of the lease, and there is no expectation that the lessee will take ownership of the appliance at the end of the term, then the lease is regarded as an operating lease. Operating leases have provided an advantage to the restaurant owner in the past by enabling the asset and corresponding liability to be kept off the business’ balance sheet. This benefit remains for leases with terms below 12 months. Nonetheless, updated accounting guidelines instruct business owners to list the equipment and liability for all leases over 12 months. The odds are that not unless you are leasing equipment with a long-shelf-life for a short period, you are going to be using a capital lease. Nonetheless, you will want to ensure you read your lease contract carefully and understand the difference between operating lease vs. capital lease so you can take proper advantage of tax savings and account for the lease properly on the books.
Tips to finance commercial electric range with bad credit
If you are a restaurant owner facing the challenge of financing a commercial electric range with bad credit, you are not alone. Following Fair Isaac Corporation (FICO), about a third of the United States population has a poor credit rating, which FICO denotes credit scores from 300 to 629. The best part is you can still get financing or leasing, even with bad credit. Even though we will finance restaurants with bad credit, there are some measures you can take to increase your chances of approval, such as knowing your 5 C’s. There is a popular concept in the lending world known as the five C’s of credit. This means- character, collateral, conditions, capital, and capacity. These are the five most popular criteria a lender will assess when determining if to lend you. Getting to know your 5 C’s will help you put your best foot forward when working with a lender.
Here are ways you can boost your 5 C’s
- Check your credit rating: Obtain a copy of your credit rating and look for issues that you can address, including liens, judgments, and late payments. Remember to dispute inaccuracies and keep on monitoring your credit.
- Assess your cash flow: Check your balance sheet to free up cash by getting rid of unnecessary overhead.
- Reduce unnecessary debt: Be very deliberate with your purchases. If you do not need to replace a piece of equipment immediately, consider if repair is a viable option. You can also look for a second-hand electric range.
- Create a business plan: When speaking to a lender, be ready to talk about your market and how you will use the leasing equipment, and how that will assist you in increasing your revenue.
- Consider your security: Lenders want to reduce their risk, and so the condition and reliability of the appliance you select might affect a lender’s willingness to make a deal.
Can I lease other Garland 36E Series Heavy Duty Range with bad credit?
Several commercial electric ranges exist, and which one is ideal for your business will depend on your specific needs. At Top Financial Resources, we finance all commercial equipment. Other Garland 36E Series heavy-duty ranges you can finance or lease at Top Financial Resources with bad credit include:
- Garland 36ES32-3 36E Series Heavy Duty Range
- Garland 36ES32 36E Series Heavy Duty Range
- Garland 36ES39 36E Series Heavy Duty Range
- Garland 36ES38 36E Series Heavy Duty Range
- Garland 36ES36 36E Series Heavy Duty Range
- Garland 36ES35 36E Series Heavy Duty Range