Pandemic Life has Changed Equipment Leasing—Here’s What That Means for Your Business

It’s pretty clear by now that few areas of our lives escaped the reach of COVID-19. The good news? Change often brings new opportunities for those who are willing change along with it.

From the initial lease estimate to the final paperwork, equipment leasing has seen its share of changes. Companies are moving online and going digital, banks are cautious and our clients in all sectors are seeing shifts in their industries. If your business has seen changes over the last year, you know how important it is to stay nimble and look for ways to adjust with the times.

Equipment leasing is changing right along with you.

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Answers to Your Questions About this Common Form of Business Financing

Equipment leasing is a financing agreement in which business equipment is purchased by a leasing company (lessor) and rented back to the business owner (lessee) for a prearranged length of time at a flat monthly fee. At the end of the lease term, the lessee may either buy out their lease for $10 or 10% determined at the start of the lease, trade up for a newer model, or close the lease by returning the equipment.

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How to Get the Right Equipment for the Job Without Breaking the Bank

Need another forklift for your warehouse? A telescopic boom lift for electrical maintenance? Ready to take on arborist contracts that require a good aerial lift? Business growth is a good thing, but new equipment always comes with a price tag.

If making large equipment purchases in cash is simply not an option for your small business, you owe it to your cash flow to look into the leasing option. Not all financing is created equal. With a lease you likely won’t need a down payment, the paperwork is simpler and quicker, you can arrange to make payments only when the equipment is working and you have flexibility to upgrade if necessary. If the goal is to own the equipment outright, you can opt for lease to own financing and streamline the purchase process. Let’s look at 7 ways leasing can help you get what you need.

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Answers to Your Equipment Leasing Rate Questions – No Head Scratching Required

If you’re in the market for a new equipment lease, you might be thinking about leasing rates.

• What’s a “good” rate?
• How do I find the best equipment lease rates for my situation with a minimum of hassle?
• Will my rate change over the course of the lease?
• How does equipment leasing compare to other forms of credit?

No one wants to spend a lot of time on financing, but as a business owner you’ve got to watch the bottom line. We get it. In this article we’ll go over the four questions above and help you map out your options and find the solution that’s right for your company.

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Avoid Surprise Costs on Your Next Equipment Lease Before You Sign

Equipment leasing is designed to make expensive equipment affordable. Your lease will break down the purchase costs overtime and allow for minimal cash spending on the initial purchase.

Like any big transaction, you can expect some fees and costs associated with starting an equipment lease. Of course, not all fees are respectable or necessary. Protecting your cash from a bad deal is obviously important.

In this article, we’ll explain the 7 most common fees – which costs are legitimate and which costs are not.

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How Lease to Own Financing Can Break the No-Cash = No-Contracts Cycle

Big tools are a big expense.

The costs associated with big ticket equipment like an excavator can be daunting. Sure, the right machine will mean new opportunities, new contracts and a better bottom line. But what if you simply don’t have the cash? Without cash you can’t get the equipment you need to make cash. It can be a frustrating cycle.

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