What are the benefits of leasing?

Leasing offers numerous advantages over traditional financing methods which make it an attractive option for many organizations. Benefits include alternative strategy, off balance sheet financing, fixed regular payments, and financing 100% of equipment costs. In addition, leasing conserves working capital and may reduce the amount of taxes paid.


How does leasing affect my bank line of credit?

Leasing provides an additional source of funds that supplement existing credit lines. Established bank lines are unencumbered and remain available for operations, expansion and/or acquisitions.


When the lease period ends, can we purchase the equipment?

Yes. Options available include purchasing the equipment, continuing to lease, or returning it depending upon the purchase option you choose.


Can we “buy out” the lease before the term is over?

Yes, and you may receive a discount! We also offer the opportunity to upgrade or trade in for new equipment.


Who should sign the lease?

As in any financial arrangement, the lease should be signed by an authorized officer of the corporation, by one of the partners of a partnership, or by the owner of a sole proprietorship.


Who can lease?

Businesses, non-profit organizations, associations and municipalities all benefit from leasing. We cannot lease equipment to an individual for personal use.


What is the procedure for leasing equipment?

After the credit information provided on the lease application is reviewed, flexible terms are developed upon credit approval. The lease agreement is signed by the lessee and the vendor is paid within 48 hours of verification of delivery of the equipment. Payments begin 30 days after receipt of the equipment.


How is credit approval determined?

Factors determining approval include the type of equipment, financial statements, the length of time in business, type of business, references from financial institutions and trade businesses, and credit bureau ratings.


Will a down payment be required?

Yes, an upfront charge is generally your first month and last month payments in addition to any closing costs that may be required.


Is insurance required?

Yes, we require that the equipment be insured to protect you, because you need to protect your business operations, and your lessor.


Who is responsible for service and maintenance of the equipment?

You, as lessee, receive all the benefits of the “buyer” warranties. Therefore, you are responsible for the service and maintenance of the equipment. You can thus assure that the equipment is always in excellent condition.







As in any financial arrangement, we must determine a lessee’s ability to meet the obligations of the lease agreement. To process an application, we need the following types of information:


Length Of Time In Business: We can lease to a new business as well as established companies! We request that new firms include all personal guaranty information such as the last two year end personal tax returns and their start-up balance sheet. Existing firms can be done on an application only, but to attain the best possible rate available will require a financial package. Depending upon credit, we might require additional information.


Type Of Industry: Each application is reviewed on an individual basis. When making a credit decision, the potential lessee’s type of business is one consideration. Of course, companies with a history of success are naturally preferred, and those with high risk of failure may require special terms.


Checking Account Data: An applicant must have an established checking account with a history that demonstrates prudent business management policies. We evaluate both current and average balances, and usually require these to be a minimum of a low four-figure average with no overdrafts.


Business Reference: We require at least three trade references with whom we can verify payment history. It is preferred that references be provided with average payments equal to or exceeding the amount of the equipment to be leased.


Personal Credit Data: If personal credit data is required, we look for a favorable record from the reporting bureaus. Factors considered include the amount of unused, available credit in addition to payment and credit history. Applicants with favorable payment history, no tax liens, judgments, or bankruptcies are, of course, preferred.


Existing Lessee: A current or former lessee with a good payment history will usually be approved for a new lease application. However, we may request confirmation that previously supplied credit information is current.


Fast Decisions: In most cases, you can expect a decision on an application within 48 hours of our receiving all the required information. If we are not able to approve an application, we may suggest an alternate arrangement, or request additional information.