The question of whether to have a guarantor on an equipment lease or not is often the question for startup businesses. If you're asking yourself, should I have a guarantor on my copier lease, then read on...
Anything you can do to bolster your lease application, you should strongly consider. If you have a low credit score or are a new business, a guarantor can get your copier lease application approved. In addition, you may be able to secure a better interest rate on your equipment lease. Better lease terms mean the potential for more profit and flexibility that you might not have had if you hadn't considered a guarantor.
If you're in the position where someone from your board of directors or a private investor is willing to be a guarantor, you should always consider the option. Often, it is worth talking to an equipment lessor and explaining that a guarantor is a possibility because it may make them more comfortable with working with a startup business on an equipment lease. There's also no stigma attached to businesses that have guarantors, in fact, many leasing companies prefer it.
If you need more information on guarantors or equipment lease, please consider contacting the Graphic Savings Group.
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