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FAQ's

For answers to Frequently Asked Questions, click on a link below. If you still have questions, please don't hesitate to call or email our Lease Specialist.

Why lease?
Who can lease?
What is the process for leasing equipment?
What factors are used to determine creditworthiness?
What if my company or personal credit is not strong?
What is the minimum lease amount?
What types of leases are available?
How do I apply for a lease?
How are lease payments determined?
How long does it take to approve my lease?
What happens once my lease is approved?
When will the Purchase Order be issued to the vendor?
What is the true definition of "Fair Market Value"?

Why lease?
Leasing offers fixed payments; provides financing for 100% of the equipment cost; allows businesses to pay for equipment while it is being used to generate income; and conserves both working capital and bank lines of credit.
Why lease?
Leasing offers fixed payments; provides financing for 100% of the equipment cost; allows businesses to pay for equipment while it is being used to generate income; and conserves both working capital and bank lines of credit.
Who can lease?
Corporations, Proprietorships, LLC's, Partnerships, and other Business entities using the equipment for business or commercial use.
What is the process for leasing equipment?
You fill out a simple, one-page lease application. (In certain instances, other financial information may be required such as financial statements or tax returns.) The supplied credit information is reviewed and upon approval the lease documents are prepared and sent to you for signing. Once we receive your signed documents, we issue a purchase order to your equipment vendor. Upon delivery of the equipment and acceptance by you, the equipment is paid for and the lease commences.
What factors are used to determine creditworthiness?
Type of business, time in business, financial condition, banking relationships, trade references, and Dun & Bradstreet or other credit bureau ratings.
What if my company or personal credit is not strong?
Call us to speak with one of our Leasing Specialists. It doesn't hurt to get a second opinion.
What is the minimum lease amount?
$5,000 is our minimum lease amount.
What types of leases are available?
We offer $1.00, 10%, and Fair Market Value lease purchase options.
How do I apply for a lease?
Applying for a lease is easy. You can print out our on-line lease application and fax it to us. You can also request that an application be emailed to you.
How are lease payments determined?
The monthly payment is based on the term of the lease, cost of the equipment, and the type of lease you choose.
How long does it take to approve my lease?
Lease applications can be approved within one day of our receiving complete information.
What happens once my lease is approved?
After lease details are confirmed with you, lease documents will be sent (overnight) for your signature.
When will the Purchase Order be issued to the vendor?
Once we have received signed documents from you, we will fax a purchase order to the vendor.
What is the true definition of "Fair Market Value"?
We hear the term Fair Market Value often discussed as a purchase option at the end of a lease. FMV is the amount that would be paid by an able buyer to a willing seller in an "arms length" transaction. At no time can a buyer be related to a seller under normal business practices.
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