Equipment Leasing

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The Advantages of Equipment Leasing

Equipment leasing gives businesses flexible financing options. Whether you’re in need of new equipment or want to keep your cashflow free, it’s a great option to consider. Don’t let your business suffer with outdated Equipment. Equipment Leasing provides you with a way to get equipment you need with the minimal money upfront. There are many things to consider when looking at an equipment lease deal. For example, having an equipment lease will not tie up your line of credit and allow you to deduct lease payments as business expenses.

Financing in 3 easy steps

Types of Equipment Leases

Master Lease

The Master Lease is a pre-approved credit line allowing for multiple transactions (takedowns) over a period of time.

Express Lease

The Application Only Lease does not require financial disclosure. Approvals are granted from $5,000 to $150,000 and usually within a 24-hour period.

Commercial Lease

The Commercial Lease requires a full financial credit package and typically provides for lower finance/lease rates.

Municipal Lease

The Municipal Lease is for the non-profit organization. Our Municipal Lease is a straightforward agreement for lease amounts up to $1,000,000. In most cases, there is no need for Uniform Commercial Code (UCC) filings, legal “opinion letters,” or financial statements on leases less than $100,000.

Software Only

The Software Only Lease allows for 100% software financing, including installation, training, and service.

Purchase/Sale Leasebacks

This type of finance involves Providence taking existing strong collateral equipment in which you own outright. We conduct a quick desktop appraisal for this asset and immediately lease the equipment back to you. This solution allows companies to infuse cash into their business.

No Pay for 90 Days Lease

The 90 Day Deferral program allows the lessee to skip the first three scheduled lease payments.

Buy

Must pay 100% of cost upfront
Impacts balance sheet if money is borrowed
High upfront capital costs
No payments; 100% paid upfront
Hard to upgrade equipment
Payment schedule does not match cash flow

Lease

100% financing options available
No money borrowed
Low front-end costs
Fixed payments and possible tax benefits
Easy to upgrade and add equipment
Payment schedule matches cash flow

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Benefits of Leasing Equipment

Leasing provides customized payment plans.

We can tailor your payments to meet the cash flow, budget, and cyclical fluctuations of your business.

Leasing with us is quick and easy!

You can usually receive an approval within 24 hours, allowing you to rapidly acquire your new equipment with minimal documentation or red tape.

Leasing conserves cash.

Since leasing provides 100% financing, you aren’t required to hand over a large down payment.

Leasing protects you from obsolescence.

We have a variety of end-of-lease options that give you the opportunity to return, renew, or purchase the equipment.

Leasing can provide tax advantages.

Most lease payments can be deducted from your corporate income. (Ask your tax advisor how this can work for you!)

Leasing can include additional soft costs.

You may be able to include training, maintenance, and installation costs in your lease-finance agreement.