Equipment financing is the solution to acquire large, expensive items to maintain or grow your business when you don’t necessarily have the cash to make the purchase. We provide a contract for the use of a specific piece (or multiple pieces) of equipment for a specified period of time (generally 24 to 60 months), at a fixed monthly payment amount, which is agreed upon in advance.
Leasing business equipment is synonymous with the use of an asset. You don’t pay your employees a salary in advance – you pay them as they contribute. It should be no different with a contributing asset like business equipment. Leasing enables you to pay as you use the equipment, not before.
Your simple lease application will usually be approved within 24 to 48 hours! Applications can be completed via phone, fax, or online over our secure server.
We lease all sorts of items that you’ll need for your company, including, but not limited to, computers, software, yellow iron, machinery, and equipment for all industries – from construction to woodworking, metalworking to medicine, technology to landscaping.
Certain types of leases can be advantageous to most businesses in that monthly lease payments can oftentimes be deducted as an operating expense. This clearly reduces the net cost of the lease. Consult with your tax and legal advisor about the potential tax benefits of leasing and other types of financing.
Nope! Unlike many other leasing institutions, Providence Capital does not charge for any application fee or consulting fees.
There are several end-of-lease options from which you can choose, including the following: purchasing the equipment, 100% financing, upgrading to a new model, continuing to lease, and returning the equipment.
A benefit of leasing with Providence Capital is that you can purchase equipment from any reputable vendor of your choice. Select your equipment and options, negotiate your best price and let us do the rest!
Absolutely! One of the many benefits of leasing includes the ability to “bundle” a number of equipment items into a lease including software, service, and installation costs. This way, you can make one simple monthly payment for an entire system or equipment line.
Most leases are written for 24, 36, 48, or 60 months, depending on the type of equipment. Leases for items that depreciate rapidly (such as computers) are usually shorter terms. Expensive, durable machinery can be leased for terms up to 84 months.