Contact Lease Consultants today and you’ll be one step closer to getting the answers you’re looking for concerning lease advantages.
General Equipment Financing Questions
A common question Lease Consultants Corporation receives is what are the advantages of leasing, and we provide the answers concerning commercial financing that makes buying and selling equipment more affordable.
What types of equipment do you finance?
We handle commercial financing – as long as the equipment is being used for business purposes, we will process applications for all types of equipment.
Do you offer financing outside of the US?
No, we are only able to offer financing within the continental United States.
What are the benefits of financing instead of paying cash outright?
Financing preserves bank lines and other cash sources – they are free to finance other areas of business expansion. Financing also allows for the equipment to “earn its keep” – it pays for itself as it increases overall business income. A locked monthly payment makes for easier budgeting.
Are there any tax benefits?
For most small businesses, the entire cost of equipment and software purchases can be written off during the tax year that the equipment is received. (Not all assets qualify – consult your tax advisor – this is not tax advice.)
Are there any additional fees?
There are no application fees, documentation fees, or any additional fees associated with our standard programs.
Dealer and Manufacturers Questions
We deliver financing solutions & lease advantages designed to meet each industry’s unique challenges. Our expertise in your market allows us to quickly assist in growing your business.
How can my customers apply for financing?
They can apply one of three ways:
- 1. Submit a paper application (via fax or email, or upload a picture online – see link below).
- 2. Submit an online application. You can get your own custom link at EquipMoney.com (Link)
- 3. Call us at 800-325-2605 and a friendly Lease Associate will walk you through the application process.
Do you provide inventory financing?
Please contact Troy Jaros or Ann Hardisty at 866-541-1922 to inquire about Inventory Financing and details.
What is the minimum amount you will finance?
We do not have a set minimum for financing.
How long does it take to get funded?
Once our purchase order has been issued and final invoice is received, funding will occur within one business day (same day funding if invoice is received prior to 2 p.m. Central Time). Funding is done electronically thru ACH.
How does your process work?
Your customer submits an application to us. Once approved, you confirm the pricing and equipment details. We will handle the documentation directly with the customer via DocuSign (or it can be sent to you directly, if preferred). Once paperwork is signed and verified, we will issue a purchase order to you. You remit your final invoice to us once equipment is delivered/installed. We will fund you within one business day.
Can a service/maintenance agreement be included?
Yes – we can include a service/maintenance plan as part of the payment. Your customer makes one payment to us. The service portion is escrowed to you monthly, as payments are received.
Can freight/shipping, installation, labor, etc. be included?
Yes, items such as labor, installation, freight/shipping, and surcharges can be included.
Can a customer add equipment to their contract at a later date?
Yes – financing makes it very simple for the customer to upgrade or add additional equipment at a later date.
Equipment Financing Questions
We specialize in working with all types of businesses, from start-ups to established organizations, making their equipment purchases or funding solutions simple with flexible financing options.
Do I need to have a certain credit score to apply?
We do not have a minimum credit score – all are welcome to apply. In addition to the FICO, we take into consideration things such as the nature of business and time in business.
Will it affect my credit to apply?
No – we do a soft pull when processing your application, which will not affect your score.
How long does it take to get an approval once the application is sent?
We will begin processing your application as soon as it is received. Our goal is to have a decision for you within 24 hours. Well qualified buyers will receive instant credit approval up to $25,000.
How do I apply?
Is there a penalty for early payoff?
No, there is no penalty or fee for an early payoff. If you wish to pay off the remaining balance of your lease, call us at 866-541-1922 with your 5-digit lease number and we will let you know your pay-off amount.
What financing terms do you offer?
We offer terms ranging from 12 to 60 months on a variety of plans. We will help you find one that is sure to meet your business needs.
Will I own the equipment at end of term?
Yes, you will have the option to own the equipment at the end of the term. For most standard plans, the buyout at the end of the term is either $1.00 or the surrender of the Security Deposit made at the beginning of the lease.
How do I make payments?
Our monthly invoicing is handled through an online service called EBill Express (Link). You may remit payments electronically here, or set up a recurring payment. You may also mail a check to us.
How does financing help my business?
Financing preserves your cash and lines of credit for use in other areas. With your locked in monthly payment, you can easily budget for your equipment, all while it “earns its keep” by increasing your overall income. Financing also makes it easy to upgrade your equipment as your business grows.
Do you work with startup companies?
Yes, we work with startups.