Crest Capital Review

Pros

• Few additional fees
• Long-term financing available
• The application process is fast and easy
• No collateral required
• Customer service is helpful

Cons

• Not available to startups
• Rates can be expensive

What Is Crest Capital?

Crest Capital offers a variety of online leasing options designed to facilitate ownership or temporary utilization of a wide variety of business-related equipment.

Crest Capital provides a reasonable alternative to bank-based equipment financing with decent rates and a convenient lending process. The downside is that if you qualify for financing from Crest, you could probably qualify for financing from a bank. If you can’t meet Crest’s relatively high qualification standards, however, you may want to have some equipment financing alternatives in mind.

Services Offered By Crest Capital

Crest Capital offers equipment leases, a form of equipment financing that can be used to either purchase or rent a piece of equipment.

Similar to installment loans, regular payments are made to the lender (known as the lessor). Unlike installment loans, there is a residual payment at the end of the lease (which could range from $1 to the fair market value of the equipment). Once this is paid, the lessee owns the equipment. In some cases, the lessee can return the equipment.

Equipment financing from Crest Capital can be used to purchase a variety of equipment for industries such as:

• Agricultural
• Automotive diagnostic
• Foodservice
• Forestry
• Health
• Industrial/Manufacturing
• Medical
• Office
• Packaging
• Printing
• Retail
• Software
• Technology
• Vehicles (except passenger cars)

While Crest Capital offers good options for businesses that need equipment, borrowers that need funding for other purposes won’t find what they’re looking for here — a factor that did impact our rating for services.

Borrower Qualifications

Here are the prerequisites for getting financing from Crest Capital:

Rates & Fees

Here are the terms and fees for Crest’s equipment financing:

Crest’s equipment financing options are very comprehensive; agreements don’t involve any liens or collateral beyond the equipment being financed.

If you’re looking at the types of leases offered by Crest Capital, it’s easy to get overwhelmed by unfamiliar terminology. While Crest Capital provides a good amount of information about its leases, here’s a brief breakdown to give you an idea of what you can receive:

• Equipment financing agreement: An EFA is a loan that is structured a bit like a lease, except that liability for the equipment is transferred to you as though you were the owner.
• $1 buyout lease: Fully finances the cost of equipment. At the end of the lease term, you can purchase the equipment for $1.
• 10% option lease: This option has smaller monthly payments and gives you the option to renew, buy, or return the equipment to Crest Capital. If you purchase the equipment, you’ll pay 10% of the equipment’s cost.
• Fair market value lease: Similar to the 10% option lease, only you will pay the fair market value at the end of your term.
• Guaranteed purchase agreements: Offers an agreed-upon purchase price at the end of the term.
• First-amendment lease: Set one or more defined points during the terms of the lease at which you choose to buy or continue the lease.
• Operating lease: Short-term lease in which the title for the equipment remains with the lessor.

These leases can be combined with a number of repayment options and schemes detailed in the company’s FAQ.

Application Process

You can fill out Crest’s application online or print and fax it if you prefer. In addition to some basic information about your business, you’ll need to provide a bank reference, information about the equipment you want to have financed, and the seller’s name and contact information. You will, of course, want to make additional information available regarding your revenue and provide proof that you are, in fact, the owner of your business as well as how long you’ve been in business.

Crest will do a soft pull on your credit afterward. Funding decisions are typically made within four hours, but it may take longer if you’re seeking more than $250,000 in financing. In that case, you should also expect to provide two years of financial statements and tax returns as well.

Overall, Crest Capital’s application process is pretty quick and painless, particularly for borrowers who are seeking less than $250,000 in financing.

Sales & Advertising Transparency

Crest Capital provides a moderate amount of information on its website. You won’t find much information about fees, however. The company claims there’s no obligation if you want a quote, but you will have to provide your information to get it.

In addition to its website, you can also find Crest Capital on social media, although updates on these sites are pretty infrequent.

Customer Service & Technical Support

In my experience, customer support is friendly and easy to deal with, applying only a small amount of sales pressure. Customers generally seem to have had positive experiences with Crest’s staff.

Crest Capital offers several ways to get in touch. You can reach the company by phone, through email, or via a contact form on its website. There are plenty of helpful resources on its website, in addition to the The Lease Guy blog, which offers lots of useful information about interest rates, tax write-offs, and more.

Crest Capital also has profiles on YouTube, LinkedIn, Facebook, and X/Twitter, although most of these profiles aren’t very active.

User Reviews

Crest Capital’s user reviews are overwhelmingly positive. The company boasts an A+ rating on the BBB, where it also has no complaints and a rating of 4.64 out of 5. It’s also received a 4.5 out of 5 rating on Facebook and is recommended by 90% of reviewers.

Negative Reviews & Complaints

All in all, there are surprisingly few negative reviews for a company that’s been around as long as Crest has. Some possible issues you might encounter:

• Additional fees
• Confusion surrounding multiple lease options
• Lack of transparency for rates and terms

Positive Reviews & Testimonials

Crest has a page of client accolades for those interested, as well as the aforementioned positive reviews left on BBB. As is the case for many equipment funders, there aren’t a ton of independent user reviews floating around. Crest is well-regarded for its:

• Good customer service
• Numerous equipment financing options
• Overall transparency
• Easy application process

Final Verdict: Is Crest Capital Equipment Financing Worth It?

The versatility of the company’s product offerings and its willingness to accommodate a wide array of circumstances make Crest Capital a solid way to finance equipment purchases. Unfortunately, the credit and time-in-business requirements may make these services unavailable to some businesses.

Despite this, established businesses with no credit issues will find that working with Crest Capital is a fast and easy way to get business equipment for an affordable price. Crest Capital earns a solid 3.8 out of 5 in this review, as well as our recommendation for a reputable equipment financer.

As always, you’ll still want to scrutinize any offers you receive and, if possible, get offers from different lenders before you commit to one. Start your search with our picks for the best equipment financing companies for small businesses.

Business Loan & Funding Products Review Methodology

Merchant Maverick has been researching and reviewing business lenders since 2015. Our writers have tested over a hundred different funding products, including traditional term loans, online loans, lines of credit, start-up loans, merchant cash advances, and equipment financing. In each review, we evaluate rates and fees, services, eligibility requirements, application process, sales and advertising transparency, customer service, and user reviews.

Read more about how we rate business loans and funding products.

When comparing different lenders and loan products, we consider many data points, including the ease and transparency of the application process, interest rates, repayment structure, sales ethics, time to funding, revenue and time in business qualifications, and credit score requirements. Our lists of the best funding products include only those we’ve deemed worthwhile from multiple vantage points, and often share qualities such as widespread accessibility across fifty states, low rates, flexible requirements, and competitive borrowing amounts.

We spend an average of 10-15 hours researching and updating each one of our lists, making sure the loans and funding products included meet our internal standards for quality and reputation.

Find Funding for Any Credit Level

BusinessLoans.com	Visit Site Read our Review

Explore a wide range of business loan options at BusinessLoans.com. With no minimum credit score requirement, find the perfect funding solution for your needs. Get Started.

Find Funding for Any Credit Level

BusinessLoans.com	Visit Site Read our Review

Explore a wide range of business loan options at BusinessLoans.com. With no minimum credit score requirement, find the perfect funding solution for your needs. Get Started.