Clicklease Small Business Financing Review

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Clicklease Small Business Financing

APR Range

Unknown

Funding amount

Up to $20,000

Term

Up to 6 months

Min. credit score

520

Time to funding

As soon as the same day

For equipment financing, Clicklease is an option for lenders looking to lease equipment until they own it. As you make payments towards the piece of equipment you get closer to owning that equipment. However, instead of doing this through the company you purchased the equipment from, you do it through an equipment financing company, like Clicklease.

Pros

  • Best option for loan requests under $25,000
  • No hard credit pull
  • Possible tax deductions from financing
  • Flexible terms and credit score
  • Monthly payments

Cons

  • Restricted to equipment purchases
  • Doesn’t build business credit (borrower may be able to self-report to credit bureaus)

Clicklease Small Business Financing

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APR Range

Unknown

Funding amount

Up to $20,000

Term

Up to 6 months

Min. credit score

520

Time to funding

As soon as the same day

For equipment financing, Clicklease is an option for lenders looking to lease equipment until they own it. As you make payments towards the piece of equipment you get closer to owning that equipment. However, instead of doing this through the company you purchased the equipment from, you do it through an equipment financing company, like Clicklease.

Pros

  • Best option for loan requests under $25,000
  • No hard credit pull
  • Possible tax deductions from financing
  • Flexible terms and credit score
  • Monthly payments

Cons

  • Restricted to equipment purchases
  • Doesn’t build business credit (borrower may be able to self-report to credit bureaus)

Equipment Financing

In the equipment financing application process, you apply, are approved, and then, if you meet their qualifications, are offered financing to pay for the piece of equipment you need. Your repayments will then act as “lease-to-own” payments. You will repay the total cost of the equipment over the agreed-upon term, with added interest. Remember that the amount of interest can vary significantly though, depending on where you get your financing, your business, and who you are as a business owner, the loan amount, and other factors. For this  reason, it’s important to consider all of these aspects when deciding whether or not to accept financing, whether you’re evaluating Clicklease or other potential financing options.

Loan amount rage$500-$20,000
Time in businessNo minimum
Minimum credit score520
Minimum monthly revenueNo minimum
Repayment scheduleMonthly
FeesOne-time documentation fee
Funding speedAs soon as same day

Evaluation

Here are some factors to consider about Clicklease when deciding whether or not to get your equipment financing from them.

Fast Funding Times

If you’ve ever applied for small business financing before, you probably know it can be quite a rigorous process. Sometimes it takes days or weeks to get an answer about your application and then more time after that until you see funds. However, with Clicklease, funds can arrive for the equipment on the same day your loan is approved.

Financing Range For Smaller Purchases

Clicklease can offer instant approvals for funding amounts from as little as $500 up to $20,000. That can be enough to cover the equipment many business owners might need to keep things running smoothly. Such funding would typically be expected to be repaid over 24 to 60 months.

Typical Fees & Rates

There is a one-time documentation fee for using Clicklease. It also provides the option to repay early, which will reward you with a 5% discount for doing so. Another big benefit of financing with Clicklease is that all of the payments you make towards your equipment can be completely deductible as a business expense. This can be a huge financial benefit for your business at the end of the year and is a significant upside to consider when deciding if Clicklease is right for you.

Flexible Loan Requirements

There are a few things about Clicklease to note before applying. There is no minimum time in business or monthly revenue requirement, and even businesses with poor credit are still eligible. They do not perform a hard credit pull, so your application is risk-free with no worries attached about how it could impact your credit score. Having said that, certain types of businesses are not eligible for financing from Clicklease, like those in the cannabis industry. Businesses located in North Dakota are also not eligible for financing from Clicklease.

Repayment Options

Equipment financing from Clicklease comes with terms from 24 to 60 months, depending on the piece of equipment, its cost, and other business factors. The financing is all lease-to-own for the equipment purchased by Clicklease, meaning each of your payments gets you closer to owning the equipment that you financed. Thanks to Clicklease’s flexible repayment policy, you can make repayments to pay off your equipment sooner and, therefore, get closer to owning it on a schedule that makes the most sense for your business.

Good Customer Reviews

Clicklease has an A+ rating from the Better Business Bureau, and, on average, their reviews are 4 out of 5 stars with the BBB.


Ready to compare Clicklease with other financing options? Check your eligibility on Lendio and get multiple financing offers for your small business in one place.

*The information contained in this page is Lendio’s opinion based on Lendio’s research, methodology, evaluation, and other factors. The information provided is accurate at the time of the initial publishing of the page (November 22, 2022). While Lendio strives to maintain this information to ensure that it is up to date, this information may be different than what you see in other contexts, including when visiting the financial information, a different service provider, or a specific product’s site. All information provided in this page is presented to you without warranty. When evaluating offers, please review the financial institution’s terms and conditions, relevant policies, contractual agreements and other applicable information. Please note that the ranges provided here are not pre-qualified offers and may be greater or less than the ranges provided based on information contained in your business financing application. Lendio may receive compensation from the financial institutions evaluated on this page in the event that you receive business financing through that financial institution.

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