Equipment financing lenders, as well as banks, use the Five Cs to evaluate loan applications: Character, Credit, Cash Flow, Capacity and Collateral. However, while banks look at small-to-medium size companies from a Fortune 500 perspective, equipment financing companies see applicants from a small business perspective, which highlights a sixth C: Common Sense.
Benefits of Leasing Equipment
Leasing equipment provides the lessee with all the following benefits of utilizing the equipment without having to pay the up-front costs or assuming the risk of ownership. A lease is one of the best ways for businesses to stay on top of the development curve. With so many new developments that occur (particularly in the technology areas) equipment leasing is less financially expensive.
Choosing the Best Type of Lease for Your Business
When it comes to leasing equipment, understanding what it can do for your business is only part of the equation. Understanding and choosing the best lease for your business is another matter altogether.
Future of Equipment Leasing
The future of equipment leasing is firmly hand in hand with business development, small, large and everything in between. Equipment leasing is synonymous with possibilities and what business does not benefit from possibilities?
Leasing Equipment Versus Buying
Short on cash, but need equipment? Consider leasing what you need. Leasing equipment may be a better alternative to buying, depending on your situation and needs.
Top Mistakes with Equipment Leasing
When negotiating on equipment leasing contracts, small business and corporate accounts should review all the legal terms in order to avoid the top mistakes associated with leasing equipment. These rules are applicable in multiple areas of equipment leasing from educational, computer and engineering equipment leases.