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Business Financing

Equipment Financing

Is leasing equipment right for you?

Leasing may be a good option for your business when you have limited capital or you need equipment that might require upgrading every few years.

  • Finance up to 100% of the purchase price plus up to 20% for soft costs such as taxes, freight and delivery
  • Finance $50,000 and up—and get a possible reduction of your taxable income.Footnote1
  • Get a competitive fixed rate and have funds disbursed directly to the equipment dealer
nformation about true tax lease and lease purchase features.True tax leaseLease purchase
Use it forAcquiring equipment and deciding at the end of the term whether to buy it.Acquiring equipment and keeping it beyond the financing term.
At end of leaseYou can renew the lease, return the equipment or purchase the equipment at fair market valueYou own the equipment for $1
Term5 years5 years
Fees
  • Origination fee of 1.0% of amount being financed
  • $250 documentation fee (waived if client signs up for ACH payments)
  • No annual fee or additional closing costs
  • Origination fee of 1.0% of amount being financed
  • $250 documentation fee (waived if client signs up for ACH payments)
  • No annual fee or additional closing costs
Loan-to-valueUp to 100% (plus up to 20% for soft costs
such as taxes, freight and delivery)
Up to 100% (plus up to 20% for soft costs
such as taxes, freight and delivery)
Additional advantagesYou will typically have no down payment and lower monthly payments vs. other financing options.You will typically have no down payment and you will own the equipment at the end of the term.
CTA button rowGet started Send us an email to begin your financingGet started Send us an email to begin your financing

Loan-to-value ratio

The ratio between the unpaid principal amount of a loan, or credit limit in the case of a line of credit, and the appraised value of the collateral. Expressed as a percentage. For example, if you have an $80,000 first mortgage on a home with an appraised value of $100,000, the LTV is 80% ($80,000 / $100,000 = 80%).

True tax lease

The term "true tax lease" is an Internal Revenue Service classification that helps define the tax benefits to the lessor (the owner of the equipment) and the lessee (the individual or business leasing the equipment). The lessor receives any owner-related tax benefits such as depreciation or tax credits. The lessee benefits, too, by being able to claim lease payments as an operating expense which, in turn, lowers taxable income.

Soft costs

Soft costs are costs associated with the purchase of an item that are not part of the item price. For example, taxes, freight charges and delivery fees are soft costs.

Lease purchase

A leasing arrangement that allows you to assume ownership of the equipment or vehicle at the end of the term for $1.