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Equipment Leasing Basics

Equipment leasing allows businesses with limited cash flow to get necessary equipment right away. You can lease anything essential to your business — from furniture and computers to forklifts and utility vehicles. You need only make two advance payments before your lease begins.

Here's how it works: A third party funding source (the lessor) purchases the equipment you want. You then get the equipment and make regular payments for a period of time. If you get a finance lease, you have the option to buy the equipment at the end of the lease for a nominal fee. With a true lease, you can either give up the equipment or buy it at fair market value.

Another advantage to equipment leasing is you don't run the risk of owning obsolete machinery. You can set the limits of the lease or request a provision that allows you to upgrade the equipment during the leasing period.

Points to consider:

• What type of equipment do you need to lease?
• How many pieces of equipment do you need to lease?
• What is the total dollar amount you are looking to finance?
• How long has your company been in business?
• What is your company's annual revenues?
• Do you have any credit issues that could hinder the loan process?

Related articles - December 2008

Common terms:

• Commercial equipment leasing
• Construction leasing
• Equipment financing
• Equipment leasing
• Equipment loan
• Heavy equipment financing
• Heavy equipment leasing
• Machine leasing

Leading suppliers:

• Advantage Leasing
• Amerifund
• GCR Capital
• MJM Capital
• North American Capital
• Orange Capital Funding
• Somerset Capital
• Taycor Financing