FAQs

Who can lease?

Any company, association, non-profit organization, or individual that will use the equipment for a business or commercial use can lease.

What equipment can I lease?

Your small business can select most any type of business equipment from almost any vendor and then apply for a lease. Once you have chosen the equipment you need for your business, we will work with you and your chosen vendor to make the process simple and smooth.

Why lease - why not just borrow the money?

If you borrow money to buy and own equipment, you are using up available business credit, which, if used for other purposes, has the ability to earn a return much higher than the cost of the lease payments. Leasing offers a new source of business credit with the added benefit of being able to "expense" the payments in some instances.

What happens to my cashflow?

Leasing positively affects your cash flow in comparison to other equipment financing alternatives because there are minimal up-front costs. In addition, the lower payments increase your cash flow on a monthly basis allowing you to invest those funds in growing your business. The fixed nature of lease payments allows you to forecast your cash flow in the future leading to better planning and budgeting.

What are the up-front costs for a lease?

Up-front costs are as little as one lease payment and a nominal documentation fee. Unlike a traditional small business loan, which usually requires a large down payment, the required up-front payments are smaller and are applied to your total lease payments. We do not charge an application fee.

What is the typical approval process?

You fill out one simple credit application. In certain instances, other financial information may be required such as tax returns or financial statements. The supplied credit information is reviewed, and you will be notified directly of approval.

After approval - what next?

After you have been approved, lease documents are forwarded to you for your signature. After the signed lease documents are received we notify the vendor to ship you the equipment you need for your small business.

Can I add equipment to the lease?

Yes, you can add equipment to the lease at any time allowing the flexibility to adjust to changing industry and business circumstances.

What about sales tax?

Sales tax is added to your monthly lease payment each month and charged separately where applicable.

What about insurance?

For your protection and ours, it is required that the equipment be insured. You simply instruct your own insurance agent to send us a certificate of insurance.

Do you have additional questions that we can be of assistance with? Contact us.

To find out how business equipment leasing can benefit your small business, apply today!