# Bank Rejected Equipment 2026 - Second Chance Bank rejected your equipment financing? You're not alone. Here's how to get approved in 2026. ## Why Banks Reject Equipment Financing? **Common Bank Rejection Reasons:** 1. **CCRIS Issues** - Score below 650 - Late payments visible - High credit utilization 2. **Business Age** - Under 2 years operation - New company registration - Limited financial track record 3. **Equipment Age** - Over 5 years old - High mileage - Not bank's preferred brand 4. **Debt Ratio** - Debt service ratio over 40% - Too many existing loans - High credit card balances 5. **Documentation** - Incomplete tax returns - Missing audited accounts - Irregular income proof ## 2026 Bank Rejection Statistics **Industry Data:** - 60% of SME loan applications rejected - 70% of used equipment financing rejected - 80% of startup equipment loans rejected **Ing Heng Approval Rate:** - 75% of bank rejected cases approved - 85% of used equipment requests approved - 70% of startup applications approved ## Real Bank Rejection Cases We Approved **Case 1: Construction Company - 2 Bank Rejections** **Bank Rejection Reasons:** - CCRIS score: 585 - 3 late payments in 2024 - Business: 18 months only **Ing Heng Approval:** - Equipment: Komatsu PC200 (RM 180,000) - Down payment: 0% - Term: 5 years - Approval: 48 hours - **Reason:** Strong current cash flow, good equipment choice **Case 2: Logistics Business - 3 Bank Rejections** **Bank Rejection Reasons:** - New business (8 months) - No audited accounts - High existing debt **Ing Heng Approval:** - Equipment: 2 ISUZU lorries (RM 240,000) - Down payment: 10% - Term: 5 years - Approval: 72 hours - **Reason:** Project contracts in hand, equipment value **Case 3: Forklift Purchase - All Banks Rejected** **Bank Rejection Reasons:** - Used forklift (8 years old) - Small loan amount (RM 35,000) - Director's CCRIS issues **Ing Heng Approval:** - Equipment: Toyota forklift (RM 35,000) - Down payment: 0% - Term: 4 years - Approval: 24 hours - **Reason:** Equipment still valuable, business viable ## Bank vs Alternative Lender 2026 | Criteria | Bank | Ing Heng | |----------|------|----------| | **CCRIS Score** | 650+ required | Flexible (500+) | | **Business Age** | 2+ years | 6+ months OK | | **Equipment Age** | Under 5 years | Any age OK | | **Down Payment** | 10-20% | 0-20% flexible | | **Approval Time** | 2-4 weeks | 24-72 hours | | **Documentation** | Extensive | Simple | | **Rejection Rate** | 60% | ~20% | ## 2026 Second Chance Approval Process **Step 1: Quick Assessment (1 hour)** - Bank rejection reason review - Equipment details - Basic business info - **Same-day feedback** **Step 2: Documentation Review (24 hours)** - Alternative documents accepted - Business financials review - Equipment valuation - **Fast turnaround** **Step 3: Approval Decision (24-48 hours)** - Focus on repayment capacity - Equipment value primary - Business viability - **Decision within 2 days** **Step 4: Equipment Delivery (48-72 hours)** - Agreement signing - Equipment release - Start operations ## What Makes Us Different? **Our Approval Criteria:** 1. **Equipment Value** (40% weight) - Brand and model - Age and condition - Market demand - Resale value 2. **Business Viability** (30% weight) - Current operations - Income stability - Growth potential - Management capability 3. **Repayment Capacity** (20% weight) - Cash flow analysis - Project contracts - Future pipeline - Realistic budget 4. **Credit History** (10% weight) - CCRIS reviewed but not primary - Context important - Recovery efforts valued - Honest disclosure ## Equipment We Finance After Bank Rejection **High Approval:** - Komatsu excavators (PC200-PC400 series) - CAT excavators (320-360 series) - ISUZU lorries (all models) - FUSO, HINO lorries - Toyota forklifts **Moderate Approval:** - Hitachi excavators - Prime movers - TCM forklifts - Used equipment (5-10 years) **Case-by-Case:** - Specialized equipment - Very old machines (10+ years) - Multiple units (5+) - Difficult situations ## 2026 Approval Improvement Tips **Improve Your Chances:** 1. **Choose Equipment Carefully** - Popular brands - Good condition - Fair market price - Resale value 2. **Show Business Strength** - Current contracts - Regular income - Growth trend - Good management 3. **Offer Some Down Payment** - Even 5-10% helps - Shows commitment - Lowers lender risk - Better terms possible 4. **Shorter Loan Term** - 3 years vs 5 years - Lower total risk - Faster approval - Build credit 5. **Add Joint Applicant** - Partner with better credit - Share liability - Improve approval odds - Lower interest possible ## Documentation After Bank Rejection **Required Documents:** 1. **Business Basics** - SSM registration - Business license - Director's NRIC 2. **Financial Documents** - 6 months bank statements - Latest invoices (3 months) - Contracts (if available) 3. **Equipment Info** - Quotation or invoice - Equipment details - Seller information 4. **Bank Rejection Letter** (if available) - Shows rejection reason - Helps address issues - Not required but helpful **Alternative Documents Accepted:** - Online banking screenshots - Invoice copies - Contract agreements - Supplier letters ## Common Bank Rejection Scenarios **Scenario 1: Young Business** **Bank said:** "Business under 2 years" **Reality:** 8 months operation, growing **Ing Heng:** Approved based on current performance **Result:** Equipment operating, repayments on time **Scenario 2: Used Equipment** **Bank said:** "Equipment too old (7 years)" **Reality:** Well-maintained, valuable brand **Ing Heng:** Approved based on equipment condition **Result:** Machine still working perfectly **Scenario 3: CCRIS Issues** **Bank said:** "CCRIS score 590, late payments" **Reality:** MCO impact, recovering well **Ing Heng:** Approved based on recovery efforts **Result:** Business improved, good payment history **Scenario 4: High Debt Ratio** **Bank said:** "Debt service ratio 55%" **Reality:** Existing loans, but high income **Ing Heng:** Approved based on total cash flow **Result:** Managing all payments well ## 2026 Second Chance Success Stories **Success Story 1: Excavator After 2 Rejections** **Background:** - Contractor, 3 years business - 2 bank rejections for excavator - CCRIS score: 605 - Equipment: Komatsu PC200 **Ing Heng Solution:** - 0% down payment - RM 180,000 financed - 5-year term - 48-hour approval **Outcome:** - Equipment delivered in 1 week - Completed 3 major projects - Repayments on schedule - Credit score improving **Success Story 2: Forklift Fleet After 3 Rejections** **Background:** - Warehouse business, 1 year operation - 3 bank rejections for forklifts - No audited accounts - Equipment: 3 Toyota forklifts **Ing Heng Solution:** - 10% down payment - RM 120,000 financed - 4-year term - 72-hour approval **Outcome:** - Forklifts operational - Warehouse efficiency up 40% - Business expanded - Profit increased ## 2026 Approval Guarantee? **No guaranteed approval, but:** - 75% of bank rejected cases approved - Honest assessment given - Clear reasons if declined - Suggestions for improvement **When We Can't Help:** - Equipment in very poor condition - No visible repayment source - Business not operational - Fraudulent information ## After Bank Rejection - Next Steps **Step 1: Don't Panic** - Bank rejection is common - Many alternatives available - Not end of the road **Step 2: Understand Why** - Ask bank for reason - Know your rejection cause - Address specific issues **Step 3: Try Alternative** - Contact Ing Heng - Get second opinion - Fast assessment **Step 4: Improve Chances** - Choose right equipment - Prepare documentation - Consider down payment - Be honest about situation ## Get Second Chance Approval Bank rejected your equipment financing? Contact Ing Heng for second chance assessment. 75% of bank rejected cases approved in 48 hours. --- **CCRIS issues?** See [Bad Credit Equipment Financing](/blog/bad-credit-equipment-2026-ccris-issues-malaysia).