Pawnee Leasing Corporation Reviews - Financial Lender Pros & Cons

Pawnee Leasing Corporation Review: Equipment Financing up to $250,000

liara-cohen writer
By Liara Cohen
Updated December 12, 2020
Editor's Rating
Equipment Financing for All Credit Types
Customer Rating 11 Reviews
Pros
  • Targeted lender that offers B, C, and start-up funding
  • Offers funding for less traditional clients (outside of excluded industries)
  • Established lender, active for over 30 years
Cons
  • Long list of restricted industries
  • A-rates suspended due to COVID-19
  • Poor user reviews and numerous complaints with the Better Business Bureau

Overview

Pawnee Leasing Corporation is a small-ticket equipment leasing company that specializes in leases for equipment financing. Pawnee was founded as a niche firm that provided small-ticket lease products to start-up companies and other firms that were well established but had credit difficulty that prevented them from qualifying with traditional lenders. In 2006, Pawnee Leasing Corporation was purchased by Chesswood Group Limited, a publicly-held (TSX:CHW), specialty finance company based in Toronto, Canada. 

Services Offered 

Equipment financing and leasing

Industries Served

  • Medical
  • Software
  • B and C customers who does not operate under the prohibited industries

Prohibited Industries 

Although Pawnee works with many less traditional businesses, there are many industries that the company does not work with, listed below. 

  • Accountant/CPA
  • Any home-based business
  • Audio/Video
  • Carpet cleaning
  • Cleaning/Restoration
  • Dry Cleaning
  • Embroidery
  • Fitness/Gyms
  • Forestry/Lumber/Wood
  • Garment/Apparel
  • Janitorial, laundry
  • Mortgage broker
  • Printing
  • Publishing
  • Real estate agent/Broker
  • Tattoo/Body piercing
  • Transportation/Trucking
  • Adult Entertainment
  • Agriculture
  • Alternative/Discretionary medical- businesses performing invasive and non-invasive, non-essential medical procedures 
  • Attorneys
  • Breweries
  • Business opportunities
  • CBD & hemp products
  • Chiropractors
  • Cinemas/Theaters
  • Day trading
  • Event Planning/Party rental
  • Family recreation & entertainment
  • Franchise with less than 50 locations
  • Gaming
  • Hazardous materials
  • Hotels
  • Motels
  • Resorts
  • Hospitality, and other travel related businesses
  • Inter-/Intrastate transportation Requiring apportioned plates
  • Long haul trucking/Transportation - class 7-8, marijuana or any drug-related businesses 
  • Med spas/Day spas/Massage/Tanning
  • Medical (not owned by medically licensed professionals)
  • Oil and gas production and businesses serving this industry
  • Paintball
  • Public entertainment/Concert venues
  • Public transportation
  • Restaurant, food & drink service (franchise/independent)
  • Retail stores (excluding grocery and pharmacy convenient stores)
  • Stage lighting & sound for public venues
  • Vaping stores, vending (third-party location)
  • Agricultural
  • Alternative/Non-essential medical
  • ATMs (routes)
  • Aqua massage
  • Automobiles
  • Automate dialers
  • Billboards
  • Bitcoin mining equipment
  • Blinds cleaning
  • Blood analysis equipment
  • Copiers
  • Energy management
  • Fencing
  • Gaming machines
  • Holistic medical equipment
  • Hydroponic
  • Inkjet refill
  • Internet gambling
  • Inventory/Consumables
  • Kiosks (third-party location) LED lighting for startup
  • LED signs on vehicles
  • Maxxforce engines 2007-2013
  • New Age medical equipment
  • Oxygen bar
  • Public internet access terminals
  • Recreational terminals
  • Solar panels
  • Storage tanks
  • Titled equipment
  • Tobacco tolling machines 

Borrower Qualifications

Pawnee Leasing Corporation is open to working with lenders who may not qualify for other loans, including businesses with B and C credit ratings in industries that are not on their prohibited list.  However, they do require proof that the businesses applying for financing have been in business for at least two years. Proof of home ownership and/or a down payment may also be required. 

Terms & Fees

Amount

Pawnee offers small ticket equipment financing with funding amounts ranging from $5,000 to $250,000.

Term length

This lender offers medium-term lengths of 22 to 60 months. 

Interest rate

Borrowers accessing financing with Pawnee will pay interest rates starting at 14%.

Down payment

Down payments with Pawnee range from 0- 15% of the value of the item. 

Buyout agreement

Pawnee offers a variety of buyout options including a $1 buyout, 10% buyout, FMV, and term residual.

Additional costs

Additional costs for this lender include a $150 doc fee, $250 title fee, $350 site inspection fee, and a $250 processing fee.

Effective APR

Terms and Fees Summary/Considerations

There is very little information about terms and fees on the company website, and there are numerous complaints from customers in reviews and to the Better Business Bureau claiming that the company was not transparent with regards to terms and fees. 

Application Process 

To apply for a loan with Pawnee, borrowers are required to provide the following documentation:

  • A signed credit application
  • Equipment invoice (70% ownership) 
  • Bank statements for 3 months (per discretion) 
  • Proof of 2 years’ time in business

Other common conditional approval conditions with this lender may include proof of:

  • Invoice/spec review
  • Ownership
  • Home ownership
  • Location
  • Active SOS
  • Active Safer/USDOT
  • Liens/judgement satisfaction and vendor approval

Customer Service & Technical Support

Customers can reach Pawnee Leasing Corporation through the contact form on their website, or at the below points of contact, including phone support. 

Phone: 1.800.864.4266Fax: 970.482.26663801 Automation WaySuite 207Fort Collins, Colorado 80525

User Reviews

Negative Reviews & Complaints

This company has low ratings on the Better Business Bureau and Google. Dissatisfied customers complain of lack of transparency, hidden fees, extensive insurance requirements, no cancellation options, and bad customer service. 

Positive Reviews & Testimonials

Positive reviewers appreciated the detailed explanations and support the professional staff provided. 

Final Verdict

This lender offers loans of up to $250,000 to small companies that do not qualify for other lenders, excluding companies in prohibited industries. They offer significant flexibility, however, since the terms are specific to each agreement, there are complaints from customers who were not aware of critical components before entering into the agreement, such as high fees and interest rates. Other customers, who contacted the company and asked for clarifications before entering into an agreement, were satisfied with the answers that they received. Therefore, Pawnee Leasing Corporation can be a good option for businesses that do not qualify for standard lending, but borrowers should make sure to carefully review all terms before entering into an agreement with the company. 

11 User Reviews

Lawson Casper

Sep 19, 2019 1:12 PM

Definitely recommend Pawnee! Great service and the customer dealing is also excellent. Don’t shy away from asking any “stupid” questions. There is no such thing. The representatives will tell you all that you need to know and answer all your queries with patience. If you have selected an equipment merchant, they would deal with them to for you for a leasing deal. I wanted wo latest technology laptops and has a few providers in mind. Worked very well for me! I am glad I found pawnee corporation

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Mr. Travis Krajcik

Oct 25, 2019 6:48 PM

pawnee leasing corporation has been my lending partner for a while now and for so many reasons, their customer service being one of them! also i received financing almost immediately and the terms are pretty good as well. i didnt have a good credit history before pawnee but they didn’t run away like other banks and lenders and stuck with me. although the initial terms were kinda difficult but thank god my business thrived and i was able to complete the first loan with rather less difficulty and from them on, pawnee has been my partner. helped improve my credit history as well. now i’ m sure i could get a loan from anywhere but i choose to stick with pawnee leasing. i’m comfortable with these guys and we share a bond of trust both ways. definitely a lending partner you could rely on!!

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Theron Smitham

Apr 3, 2020 9:52 AM

Pawnee leasing gives great service. got a loan on 4% down payment. felt like too much but the terms were rather loose and easy. got it for 22 months, feels like a pretty cool deal. and so far, so good. documentation is done and so is site inspection. things are transparent and open, easy to trust! thanks to the cool and jolly reps, they are easy to get along unlike the suited booted bank agents, too uptight, lol! so, yeah you can trust these guys and get financing on pretty easy terms.

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Tressa Schiller

Oct 6, 2020 6:42 PM

Supportive and patient customer service! Got instant financing straight in my account. Highly recommended!

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Danny Runolfsdottir

Dec 10, 2020 7:07 PM

Not a lender you would want to work with. Too limited in terms of industries they provide financing for and too many so-called “prohibited” industries. Almost everything!! *chuckles* I wanted some medical equipment but they refused, saying the equipment I needed falls under the “New Age medical equipment” industry which is a “prohibited” industry. But they do say they give equipment financing for the medical sector but who would have known they would refuse if you want some latest equipment?? Haha! Almost laughable! I had a provider in mind and all things set up for me, just needed financing but they equipment was “new age”. So, yeah, bye bye pawnee from me. Too many filters and prohibited sectors. Not good!

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Callie Rowe

Jan 28, 2021 9:57 AM

Good experience with pawnee leasing corporation. Got a 1-year equipment leasing deal for my software company. Everything is good to go. The equipment is on the way from the vendor and the payment is made. Simple and easy!

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Mabelle Gislason

Feb 16, 2021 12:41 PM

I needed a laser printer to replace the old one in my home office and a scanner as well. Found a reseller who agreed to take my old printer which I must admit was in a bad shape. The new one was pretty expensive and I had to buy a scanner as well so I thought maybe I should finance the purchase through a good lender. The Pawnee leasing corporation not only provided instant financing but also the rate was all right too. Of course I wished it was lower but given the current difficult times, I was lucky enough to be eligible for getting the credit. I just talked to the equipment merchant and then contacted Pawnee. A leasing broker was assigned to me and she talked me through the whole process and also contacted the equipment vendor of my choosing and made the necessary arrangements to acquire the product. I am satisfied and will definitely recommend pawnee!

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Reggie Nolan

Mar 3, 2021 8:56 PM

Great service, great terms and conditions, instant financing! Recommended Pawnee Leasing Corporation to all my friends and colleagues. Recommending in this review too! Give these guys a shot and you will not be disappointed.

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Lauretta Dickens

Jun 1, 2021 12:50 AM

Easy and straightforward financing deals. Customer representatives are trained to be REALLY patient and friendly. No matter what questions you ask, they have a satisfactory answer. There are certain additional fees that feel unnecessary but trust me, the market is full of rip offs. At least these people actually use the additional fee for the reasons mentioned and you could also see the prompt and reliable results. Totally recommended!

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Darryl Wuckert

Jun 2, 2021 9:25 PM

When I planned to open my own clinic, I had no idea what I was going to do. I had been practicing in my father's clinic for quite a while but when I finally decided to start my own clinic and did the math, I was astounded by the amount of capital I had to pour in. There was just so much that I needed to buy. From simple protective equipment to basic diagnostics tools (blood pressure monitors, thermometers, vital signs monitor and whatnot). A colleague of mine suggested a few lenders that specialised in Equipment Financing. After thorough research, I decided to work with Pawnee Leasing Corporation. After necessary documentation and verifications, I was able to get a financing worth $150,000 at a 14% interest rate, which seems a lot but not when you get all of this at a 0% down payment. I would definitely recommend Pawnee if you are looking for immediate financing for your business.

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Randall O'Hara

Jun 4, 2021 3:09 PM

Excellent company! 100% recommended!!!

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