How to Get Financing to Start Your ATM Business (2024)

So, you want to start an ATM business but you need some business financing for ATM Equipment?

Well, to start an ATM business, you really only need $5,000. That would get you your first machine ($2,000 – $2500), depending on the type of ATM Machine you want, then that leaves you about $2,500 – $3,000 for vaulting (the money that goes in the ATM). However, the smarter way to start is to preserve your cash-on-hand for loading ATMs and get ATM Equipment financing for the ATM Machines.

There are a few ways you can get equipment financing to start your ATM Business. Let’s review them.

Small Business Loans (SBAs)

Lots of new IADs turn to credit cards to start their business. It’s a great way to buy your first ATM since the initial investment is typically under $2,500. Sometimes, if you have a good location you can pay this off without incurring too much interest.

You can also try to apply for interest-free credit cards. The downside to applying for your own credit cards is that you can only get so many and every time you try, you get an inquiry on your credit report. This can often hurt your score, which in turn, lowers your chances of getting another credit card if you need more cash to grow your ATM business.

Remember to note that if you plan to apply for these yourself, you’ll need a decent credit score. Close to 700, for instance. Once you apply for one or two, you’ll probably lock yourself out of getting additional cards or other types of loans since all the application inquiries will show up on your credit report. But, if you have a great credit score and only need another $10,000 or so in credit card credit, then this might work for you.

Another alternative: We were able to secure IADs access to a 3rd party lender that helps you get around this limitation. They may be able to save you loads of time and hassles. Read below to find out more about what ATMDepot has set up for their IADs ⬇

ATMDepot has secured a way for you to see if you qualify for 3rd party business funding. It’s a great way to get cash if you have locations waiting for ATMs and you NEED to find the money to buy machines. You can see if you qualify here to get financing to start your ATM Business.

This Third Party Offer enables IADs access to cash. Normally, they charge $30 for the application, but, you’ll get it free. First, you’ll fill out the quick pre-qualification app. Then, a financing rep will give you a call to collect the rest of your info and a soft inquiry will run (soft inquiries do not show up on your credit report). Lastly, he/she will let you know what you’ve been approved for in your area based on your credit, and that’s it!

How Does It Work?

You will know within minutes whether or not you have been approved. If you proceed with the loan, the 3rd party loan provider will work on your behalf to secure multiple revolving Credit Cards (up to ten) with varying amounts of credit. The total available line of credit could be between $25,000 and $100,000 based on your creditworthiness.

Obviously, you don’t have to use it all, but when you initially need business financing, it’s best to get approved for as much as you can. You never know how many locations you might get and you certainly don’t want to be in a position where you need to find additional financing down the road.

With the 3rd party offer, they work to secure all your credit cards to include up to 18 months of no interest. You complete the online form, they qualify you for free and do all the work to secure your loans without inquiries on your credit report.

What Will It Cost Me?

While there is no upfront fee, a flat rate fee charges when / if you secure the credit. ATMDepot was able to secure $1,000 off their normal fee for loans higher than $25,000.

You don’t pay anything out pocket.

Upon approval and when you receive your first revolving line of credit, a flat fee of $2,997 charges to the first credit card you receive. This way, you’re not out of pocket and have up to 18 months to pay the fee and any other charges you incur on the cards received.

How Do I Apply?

ATMDepot proudly offers our IADs a way to apply for business lines of credit with one click and no charge. There is no charge to check, and no inquiry will go on your credit report.Click the button below or the link to the right to see you if you qualify.

Disclaimer: As with any business loan or business line of credit, be careful how you use it. Use your credit wisely by building your business. We don’t recommend using the credit for anything other than buying ATMs or for other uses that will help grow your business. Use however / how much you need. Normally, the cards aren’t used for obtaining vault cash, however, if you speak with the loan provider, you may be able to pay an additional small fee to pull cash off the cards.