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Equipment Leasing

Almost any piece of equipment with a useful life of 3 years or more can be leased. The minimum lease amount is normally $5,000.

Equipment that is typically leased (new or used) includes heavy machinery, restaurant equipment, computers and software, medical technology, and furniture. If an item costs more than $5,000 and has a useful life of 3 years or more it can typically be financed.

Most leases are structured so that the business will own the equipment at the end of the lease term.  Equipment leasing is an excellent way to purchase business equipment with 100% financing and extended repayment terms.

Normally a minimum FICO credit score of 550 is required.

Typical lease terms are from 24 to 72 months. Heavy equipment leases can run for 10 years or more. Interest rates on leases vary greatly depending on credit worthiness, length of term, and type of equipment being financed.

Lease amounts range from $5,000 to $500,000 and APR's can range from 6% to 29%

 

Reverse Lease / Lease Back Agreements

If your business currently owns valuable equipment and you are looking for working capital, you can get a reverse lease.

You pledge your existing equipment as collateral. The leasing company provides funding with repayment terms of up to 60 months.

 

Is Leasing Right For Your Business?

Leasing is an excellent tool to finance equipment. Leases can finance 100% of the purchase price, including costs like shipping and setup. 

A business can use leasing to update or expand their capabilities. Whether they are doctors in need of the latest equipment, or a restaurant needing to upgrade their kitchen, the advantages of leasing often play a major role in their continued growth and success.

Even in today’s difficult credit markets, new start-up organizations can take advantage of equipment leasing.

 

Benefits of Leasing:

Keep your Cash: Leasing lets you conserve cash for other needs.

Improve your business credit: When you lease equipment, you are basically establishing a new line of credit with the lessor.

Avoid down payments and costs: A quality lease program will not only cover 100% of the purchase price, it will also cover "soft costs" like taxes, shipping, setup, and training.

Structure your payments to fit your budget: You may be able to structure your payments to meet your needs by taking advantage of options such as deferred or seasonal payment plans.

Quicker and easier than bank financing: Unlike traditional financing, there are fewer paperwork and credit requirements. The equipment you lease acts as collateral in the transaction. This lowers the risks for the leasing company.

Always get a second opinion: Once you have chosen the equipment, most sellers will refer you to their preferred leasing company. Always get a second opinion. You may end up paying thousands of dollars more than you need to.

Shop wisely: Many business owners make equipment purchases from a vendor because of the vendor’s leasing terms. You may be able to find the same equipment for a lot less from a vendor that does not provide financing. You could save thousands of dollars by using an outside leasing company.

 

Toll Free: 1-800-563-4780

E-mail: info@sbacinc.com

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