LeaseQ Equipment Financing

LeaseQ Equipment Financing Review

Lease Q is a business financing offering by LeaseQ Inc., based in Burlington, MA. Founded in 2012, LeaseQ Inc. offers access to small business loans in 50 states (and Washington, DC).

Lease Q FAQ

What are Lease Q’s rates?

Lease Q offers a fixed APR business financing product that ranges from 0% APR up to 99% APR.

Does Lease Q charge an origination fee?

Yes, Lease Q charges a loan origination fee.

What limitations does Lease Q set on the purpose of the business loan?

Lease Q considers business loan applications for business purposes, such as:

• Equipment Purchase

What types of small business loans does Lease Q offer?

Not all small business loans are made equal. The type of business loan you choose will determine the range of interest rates and terms you receive. Lease Q provides access to the following business loan types:

• Unsecured Term Business Loans
• ACH Cash Flow Loans

Does Lease Q charge prepayment fees?

Yes, Lease Q charges additional fees to borrowers who pay off their small business loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a business loan early.

What do you need to qualify for LeaseQ Equipment Financing?

LeaseQ Equipment Financing does not require borrowers to have been in business for a minimum number of years. Businesses don't have to meet a minimum annual revenue to be considered.

Applicants with a credit score of at least 500 and up to 850 may be eligible for LeaseQ Equipment Financing.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the LeaseQ Equipment Financing product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by LeaseQ Equipment Financing.

To qualify, applicants may need to provide the following documentation:

• Proof of income
• Proof of identity