Specialty Equipment - Lease Financing
Many times the chores of finding an Equipment Loan can be as involved as getting a Commercial Mortgage Quote. For this reason, more and more companies are using the services of a Business Equipment Leasing Specialist to streamline the process. Every business uses equipment of some sort. Gyms use Gym Equipment, Construction Companies use Construction Equipment and nearly every business uses Computer Equipment Leasing from time to time.
But don't brokers cost money? Generally speaking; NO. Most time the Commercial Equipment Financing Broker will be set up with many different lenders and will be paid by the lender the Equipment Lease Financing ends up with.
On some complicated deals there may be a retainer requested by the broker to cover their expenses while they are working for you, but if your deal is relatively simple like Gym Equipment Leasing for products like a Treadmill or Weight Lifting Equipment you can expect there not be an upfront fee. If you are looking to finance a very difficult transaction with equipment that is very unique, then the broker may ask for a fee up front as there will be extensive work in placing your loan. Similar to a Business Mortgage the amortization period will vary. In Business Equipment Leasing the term is usually from 1 year to 10 years depending on many factors including the industry, age of the equipment, the credit list goes on.
In your quest for the Best Business Equipment Financing you can expect to have to fill out a Commercial Loan application which will generally include a Personal Net Worth Statement. The application will use your business credit information as well as your personal credit information. You will need to supply up to the last 3 years of financial statements as well as your interim financial. All this information may not be needed for your Equipment Lease Financing but you should be prepared to furnish it.
Wade Henderson is a recognized Professional in Commercial Lending with over 14 years
Experience in the Business Finance Field and a strong reputation for getting the
deal done.
Commercial Equipment Lease * Business Equipment
Lease * Equipment Lease
Financing * Equipment Loan