Equipment leasing lets your business use the equipment it needs by making fixed monthly payments instead of paying the full price upfront. Providence Capital Funding offers flexible lease and financing options for new and used equipment, with funding as fast as a few days.
Types of Equipment Leases
Find the equipment lease program that best suits your business.
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
Learn about the
Benefits of Leasing Equipment
Leasing provides customized payment plans.
Providence Capital does not take the one size fits all equipment lease program approach. We can tailor your payments to meet the cash flow, budget, and cyclical fluctuations of your business.
Leasing with us is quick and easy!
Providence Capital makes equipment leasing a quick process. 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.
Leasing will allow you to finance 100% of the equipment. You aren’t required to hand over a large down payment freeing up capital to be used elsewhere.
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!). Learn about how Section 179 can save your business money on equipment transactions.
Leasing can include additional soft costs.
You may be able to include training, maintenance, and installation costs in your lease-finance agreement.
Equipment Leasing FAQs
What is Providence Capital Funding?
Providence Capital Funding is an independent equipment leasing and financing company based in Brea, California, in operation since 2004. It provides lease and financing options for new and used equipment to businesses nationwide.
How fast can I get approved for equipment leasing?
Many businesses receive a credit decision from Providence Capital Funding within 24 hours, and funding can happen as fast as a few days after paperwork is received. Actual timing depends on the lease program and the documentation required.
Do I need strong credit to qualify for equipment leasing?
Not necessarily. Providence Capital Funding works with businesses across a range of credit profiles, and requirements vary by program. Larger requests may need financial statements to qualify for the best rates and terms.
Is equipment leasing better than buying?
Leasing tends to suit businesses that want to preserve cash or upgrade equipment regularly. Buying can make more sense if you plan to keep the equipment long-term and own it outright. Many businesses use both, depending on the equipment.