Data Points for Apple Business Leasing

[Anonymous]

For Apple (Cupertino) leasing for businesses, I know for a fact that leasing would go through the Apple Finance Team and process through Wells Fargo or Direct Capital for approval.  I got this information directly from an Apple store business consultant.  What he didn't directly answer when I asked, is which bureau is pulled and what score is needed. Anyone knows this information for either Wells Fargo or Direct Capital or both?

[Creditaddict]

I'm not sure what they pull but I have done Direct Capital and it literally came back in less than a minute through email after submitting online and it said it was being processed... NO PG.

I was approved for $7500.

I did end up leasing (2) 27" iMac with $1 buyout and they said I would loose the rest of the financing and wouldn't be able to get approved again most likely until I had paid this lease quite far but I was thinking about ipads like a month later and submitted a new app and it spit back the same approval I had before minus my current purchases, so indeed it looked more like a credit line they kept on their end but you only have time windows that it's open for new leases before having to apply again.

It does take a couple days for the store to send over the details of your purchase and then Direct Capital to draw up and email over the lease agreement to sign so you can't just go in and shop and pickup that same day.

I had to add Direct Capital to my insurance for the lease amount - no biggie. They pull the payment automatically each month from my business checking... easy.

[Anonymous]

Creditaddict it sounds like you found a website and applied without initially going through Apple?  Do you mind revealing what the credit score might have been?  I can understand if you dont care to mention it.

[Anonymous]

I found the link:  https://www.apple.com/retail/business/financing/

[Creditplz]

I got a $15,000 approval through Direct Capital, didn't take it cause they ended up wanting a PG cause they couldn't verify I was in business for 2+ years.

[Creditplz]

Oh and I never had business credit, they approved the business based of revenue.

[Creditaddict]

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@Anonymous wrote:

I found the link:  https://www.apple.com/retail/business/financing/

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Yes. Not sure score as it was business only and I don't pay for any of those reports.

[BizCreditHunter]

I applied through the Apple website and was approved by CIT Direct Capital for $12,500.  It was an instant approval with no personal guarnatee. We only ended up leasing 1 iMac to replace an older 27" mid-2011 iMac.  I don't know what they pulled, but business was established in 2012 with thin DnB (2 reporting, one at $10K), and Experian file with only 2 old tradelines.