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Equipment Leasing

Equipment Financing| Leasing

Equipment Financing
When most people think of equipment, they don’t think of office furniture or a pizza oven. However, in terms of an equipment lease, these are considered equipment just like a large milling machine or construction implement. Any tangible asset other than property or buildings, used in the operation of a business may be considered business equipment.  As such, there is potential to finance or lease the equipement whether you currently own or need to purchase.

Did you know?
Lease payments are usually 100% tax deductible, which allows you to deduct the payments as a business expense. 
Sample List of Business Equipment We Can Finance

We provide lease financing for a wide range of equipment in a number of different industries, including:

  • Manufacturing: production equipment, material handling equipment
  • Transportation: tractors, trailers
  • Construction: loaders, backhoes, cranes
  • Business Services and Information Systems: computers, furnishings, fixtures, hardware, software, furniture
  • Resource Equipment: logging equipment, electric shovels, compressors, drilling equipment
  • Medical & Health Services: x-ray machines, ultrasound machines, furniture
  • Agriculture: combines, ploughs, tractors
  • Restaurant Equipment: fridge, ovens, freezers

How Does Equipment Leasing Work?

In simple terms leasing has some similarities to a loan, however it’s the lender that buys the equipment and then leases (rents) it back to you for a flat monthly fee. Most equipment leases come at a fixed interest rate and fixed term to keep those payments the same every month. Rates can vary depending upon the leasing company and your credit profile (anywhere between high single digits and 30% or more), so it makes a lot of sense to shop around before you commit. At the end of the predetermined lease term, the business owner may be able to purchase the equipment at fair market value, or a predetermined amount—sometimes for as little as $1.

Leasing is particularly attractive to business owners who need equipment that becomes outdated quickly, or is expected to suffer a lot of wear and tear over the course its useful life, because it allows the business to regularly update equipment at the end of the lease term. 

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