# Bad Credit Equipment 2026 - CCRIS Issues Malaysia CCRIS issues or bad credit? Equipment financing still possible in 2026. Here's your options. ## What is Bad Credit for Equipment Financing? **Common Credit Issues:** - Late payments on existing loans - CCRIS score below 600 - Bank rejection history - High debt service ratio - Default in last 2 years - CTOS negative listings ## Bank vs Alternative Financing 2026 | Requirement | Banks | Ing Heng | |-------------|-------|----------| | **CCRIS Score** | 650+ required | Flexible | | **Late Payments** | Not accepted | Considered | | **Bank Rejection** | Auto-reject | Review case-by-case | | **Debt Ratio** | Under 40% | Up to 60% | | **Approval Rate** | ~40% | ~80% | ## Why Banks Reject Bad Credit? **Bank Red Flags:** 1. **Late Payments** - Any missed payments in 12 months 2. **High Utilization** - Credit cards near limit 3. **Too Many Loans** - Multiple active facilities 4. **Recent Default** - Any default in 24 months 5. **Judgments** - Court judgments against you ## 2026 Bad Credit Still Possible **How Ing Heng Approves:** **Primary Focus:** - Equipment value and quality - Business viability - Current repayment capacity - Project contracts (if applicable) **Secondary Consideration:** - CCRIS score reviewed but not primary - Credit history context important - Reason for issues matters - Recovery efforts valued ## Real Approval Examples **Case 1: Late Payment History** **Situation:** - 3 late payments in 2024 - CCRIS score: 580 - Banks: All rejected - Business: 3 years operation **Ing Heng Approved:** - Excavator: RM 180,000 - 0% down payment - 5-year term - Focus on business cash flow **Case 2: Bank Rejection** **Situation:** - 2 bank rejections in 2025 - Reason: High debt ratio - Business: Growing construction - Need: Additional excavator **Ing Heng Approved:** - Excavator: RM 200,000 - Equipment value as security - Income-based assessment - 48-hour approval **Case 3: CCRIS Default** **Situation:** - Default during MCO 2021 - Settled in 2022 - Banks: Still rejecting - Business: Recovered well **Ing Heng Approved:** - Lorry: RM 120,000 - Considered settlement effort - Current strong cash flow - 0% deposit possible ## Bad Credit Equipment Options 2026 **Option 1: Equipment-Secured Loan** - Approval based on equipment value - Lower credit score requirement - 0-20% down payment - Any equipment age accepted **Option 2: Income-Based Approval** - Focus on repayment capacity - Project contracts considered - Business bank statements reviewed - Fast approval process **Option 3: Joint Applicant** - Add partner/director with better credit - Improve approval chances - Lower interest rate possible - Shared liability **Option 4: Shorter Term** - 3-year term instead of 5 - Lower total interest - Faster equity build - Easier approval ## 2026 Bad Credit Requirements **We Need:** 1. **Equipment Details** - Quotation or proforma - Equipment age and condition - Seller information 2. **Business Documents** - SSM registration - Business license - 6 months bank statements 3. **Repayment Evidence** - Current contracts - Invoice copies - Future project pipeline 4. **Credit Explanation** - Reason for credit issues - Recovery steps taken - Current situation ## Equipment We Finance with Bad Credit **High Approval Rate:** - Komatsu excavators (PC200, PC300) - CAT excavators (320, 336) - ISUZU, FUSO, HINO lorries - Toyota forklifts **Medium Approval Rate:** - Hitachi, Hitachi excavators - Prime movers - TCM, Komatsu forklifts - Construction equipment **Case-by-Case:** - Specialized equipment - Older machines (7+ years) - Multiple equipment requests ## Improving Approval Chances 2026 **What Helps:** 1. **Strong Equipment Choice** - Popular brands (Komatsu, CAT) - Good condition - Reasonable price - Resale value 2. **Business Stability** - 1+ year operation - Regular income - Growing trend - Good management 3. **Repayment Plan** - Clear source of funds - Project contracts - Monthly budget prepared - Realistic proposal 4. **Honest Disclosure** - Explain credit issues - Show recovery efforts - Provide documentation - Demonstrate responsibility ## Bad Credit vs No Credit **Bad Credit:** - Has credit history - Some negative items - Can be explained - Recovery possible **No Credit:** - No credit history - New to financing - Clean slate - Easier approval **Both accepted at Ing Heng** ## 2026 Bad Credit Interest Rates **Credit Score Impact:** | CCRIS Score | Interest Rate | Down Payment | |-------------|---------------|--------------| | 700+ | 4.5-5.0% | 0% | | 650-699 | 5.0-5.5% | 0-10% | | 600-649 | 5.5-6.5% | 10-20% | | 550-599 | 6.5-7.5% | 20-30% | | Below 550 | 7.5-9.0% | 30-50% | **Ing Heng Flexible:** - Focus on overall profile - Business strength matters - Equipment value important - Case-by-case assessment ## Common Bad Credit Situations **Situation 1: MCO Impact (2020-2021)** - Business affected by pandemic - Late payments during lockdown - Settlement efforts made - **Status: Approvable** **Situation 2: Business Downturn** - Temporary cash flow issue - 2-3 late payments - Business now recovering - **Status: Approvable** **Situation 3: Personal Issues** - Medical emergency - Family situation - Temporary income loss - **Status: Approvable** **Situation 4: Overcommitted** - Too many loans - High debt ratio - Restructuring needed - **Status: Case-by-case** ## Documentation for Bad Credit Approval **Required Documents:** 1. SSM registration 2. Business license 3. 6 months bank statements 4. Latest 3 months invoices 5. Equipment quotation 6. Credit explanation letter 7. Settlement proof (if applicable) **Optional but Helpful:** - Future contracts - Letter of recommendation - Auditor confirmation - Supplier references ## Bad Credit Success Tips 2026 **Tip 1: Be Honest** - Disclose all issues upfront - Explain what happened - Show recovery efforts - Build trust **Tip 2: Show Strengths** - Business stability - Equipment quality - Repayment capacity - Future potential **Tip 3: Start Small** - Prove repayment capability - Build relationship - Upgrade later - Establish track record **Tip 4: Consider Options** - Used equipment (lower cost) - Shorter loan term - Some down payment - Joint applicant ## Get Bad Credit Assessment CCRIS issues or bad credit? Contact Ing Heng for equipment financing assessment. Approval based on equipment value and business viability. --- **Bank rejected?** See [Bank Rejected Equipment 2026](/blog/bank-rejected-equipment-2026-second-chance).