I am spending 500.00 a week on a rental van for my business because of poor credit rating. I make weekly rental payments to Ryder that are eating up my profits, and putting me further into the poor credit rating category. We scrimp and save on everything we can just to make ends meet, and still they are not quite coming together. I am almost to a point of selling everything I own to come up with cash to get into an owned van. Where is all this business credit that was suppose to be opened up for us small guys. If I had what most lenders require, I would not be seeking the capital.
I understand the frustration you are feeling. On of my clients that runs an industrial maintenance company was having a similar problem. He was a new start up so no one would lend him anything. What we were able to do was, first establish a business checking account at a bank he wanted to deal with. Next we presented a loan officer at that bank with his formal business plan and we did not ask for a DIME. After a month of operations we went back to the same loan officer, showed how we were progressing toward our goals and got a business credit card. I know it does not sound like much but the card had a $10,000 cash advance limit so he had basically gotten a $10,000 line of credit to run on. He was also able to pay vendor bills with the credit card and extend the terms artificially. Here is how that works, first a vendor gave him net 30 day terms, at the due date he paid with the credit card and now he did not have pay the actual cash until the next credit card statement came. Even then he could make just the minimum payment. This was imporant because his customers are big manufacturing companies that have moved to 60+ day terms on most of their vendors.
If you could lease a new or used van that might solve your problems. You can try to work a deal with a local car dealer or you can contact Mike Curtis, I have gotten several contacts from him and his firm seems eager to lend for equipment leases.