Print/View All About Leasing
What is a Lease?
A lease is simply an agreement by a customer (lessee) to pay a monthly rental payment for a specific amount of time with a predetermined buy out - like one dollar for the right to use rental property by a leasing company (lessor). The customer is responsible for insurance, maintenance, and all other costs of ownership.
To Approve A Lease...
2+ YEARS IN BUSINESS Up to $150,000 Application only.
Over $150,000: Credit Application and full financial statement package.
0-2 YEARS IN BUSINESS Credit application and full financial statement package (if available - tax returns if not), personal financial statements (PFS) of principals and a business plan. Contact Us for business plan and PFS forms.
FINANCIAL STATEMENT PACKAGE:
Latest 2 year-end business financial statements. Recent interim statement if latest year-end statement is older than 6 months. Please include latest 2 tax returns if financial statements are not audited. PFS is 2 or less owners.
TERMS and Types of LEASES:
TERMS: You can have a lease ranging from 12 months to 72 months or even longer with some equipment like machinery, even longer. Typically you will open your lease with only one or two payments down and buy out your lease at the end with "one dollar" - or if you choose for tax purposes, "the fair market value (FMV)" . Check with your CPA on this type of lease.
PROGRAMS
We have many programs to help each individual situation. One of the best to help with cash flow is the "Skip Payment" program. You can skip the first four payments to get the equipment or project up and running and (or) skip specific months each year (great for seasonal businesses).
For those of you who sell equipment we have special "VENDOR" programs to streamline your sales process and make financing a breeze for your customer. We can set up the program in house or handle all the leases third party.
How Do I get Started?
Simply fill out a Lease Application. Choose from our Printable or On Line forms or you may Contact Us Directly.
