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Why do businesses lease equipment?
Many of our customers lease because we take the hassle out of equipment financing. We offer application only up to $100,000 and credit decisions in hours, not days; we can often finance industries traditionally thought of as high-risk (with the right credit); we finance equipment that doesn't always fit a load; and we offer flexible payment plans.
How quickly can I be approved?
Our goal is to provide a credit decision in four hour or less for transactions under $50,000. For larger transactions, we will have a credit decision in as little as eight hours.
Will a lease appear on my credit report?
After we review your credit application, it will be reported as an inquiry. Upon funding, only negative pay history will be reported.
What is the rate on my lease?
Equipment leasing is similar to a rental agreement. We purchase the equipment and you rent it from us - paying for the use of the equipment. Payment plan vary depending on the following factors: term, transaction size, equipment, credit quality, security deposit and the end-of-lease option selected.
How much will I be required to pay up-front?
Because we offer 100 percent financing, all that is required at lease signing is one security deposit (generally equal to one monthly payment) and anormal origination fee. Keep in mind, the secuirty deposit is refundable upon seccessful completion of the lease term.
What terms do you offer for lease financing?
Most of our leases are structured on terms of either 12, 24, 36, 48, or 60 months. WE will consider 72 month terms on a case-by-case basis.
Can I own the equipment upon completion of lease term?
With a $1 Buy-Out Lease or Equipment Finance Agreement, you will automatically take ownership of the equipment upon completion of lease term. With and FMV or Purcahse Option LEase, you have the option to purchase the equipment.
When will I receive my invoices?
Invoices are sent 27 days prior to the actual payment due date.
What if I want to end my lease early?
You may pay-off your lease at any time, but there will be no financial benefit. As a lessee, you have agreed to make a certain number of monthly payments and will be responsible for paying the sum of those payments.
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