Apple Business Financing

[IodineNightSky]

I’ve recently expanded my small business and app’d for Apple Biz Financing. Asked for 15k and they approved for 10k online. Looks like it’s 36 month lease option.

I have a thin biz credit file.

First I want to ask if this Apple Biz Financing account will report to my biz credit.

Next, I’m looking at leasing a couple iMacs and a MacBook - less than the 10k approved. Does the balance of the 10k remain or dissolve?

Any good or bad experiences w/ them (looks like it’s run through Direct Capital)?

[jaxstraw]

This is all I could find.

Doesn't say anything about leasing

While I have no experience with them during my search I did come across some things on the BBB site that were interesting with other businesses who leased or financed.

Direct Capital just reports your business credit to Dun & Bradstreet but doesn’t report to personal bureaus for their equipment finance. They won’t report to personal or business bureaus for their short-term loan.

[Anonymous]

The company that handles this for Apple business lease is not a great company to deal with.  They will likely require a PG if your file is thin and your approval amount is only considered to be a soft approval max.  IMO you should go for a Dell business account.

[Anonymous]

But you can't buy Apple products with a Dell acct. lol  Besides, as long as you pay the bill on time there shouldn't really be any problems?

At least they report to Dun & Bradstreet, that's worth something. Since several BIZ cards already, or only report to the Bureaus. 

This account might be useful if it's treated as an installment versus revolving though, or did I read that wrong?

[Creditplz]

I had it.... first they wanted to verify identity which is okay, then they ask for a 20% deposit on any order, then they lower your CL... then they tell you to kick rocks! Got approved for 25k back in 2017?.

Never used it... it was too hard to, then they started adding provisions.

[jaxstraw]

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@Creditplz wrote:
I had it.... first they wanted to verify identity which is okay, then they ask for a 20% deposit on any order, then they lower your CL... then they tell you to kick rocks! Got approved for 25k back in 2017?.

Never used it... it was too hard to, then they started adding provisions.

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This was similar to what I was seeing on the BBB site complaints.

Such a shame.

You would think a company as highly successful and large as Apple would use a reputable firm for their business lending.

Especially since so many possible accounts are extremely brand loyal to Apple and Mac products.