Extra benefits of equipment leasing with 1st Commercial Credit:
With 1st Commercial Credit's equipment leasing programs, you'll experience:
Additionally, the cost of new equipment goes beyond the labeled price and may also include shipping, taxes, and other expenses. 1st Commercial Credit's financing means having these expenses covered to avoid upfront costs. If you are not sure whether equipment leasing is a good option for your business, contacting 1st Commercial Credit for further assistance is a great idea. We will explain more in detail how to get started, the leasing process, and the different types of leases available.
Businesses will experience the power of financing when choosing 1st Commercial Credit. We will give you the ability to offer customers access to leasing options best suited to their business needs. Your business can enjoy the competitive advantage of our streamlined finance platform. 1st Commercial Credit’s quick and straightforward financing helps you improve sales by offering more convenient purchasing experiences than your competition. Our financing programs benefit all kinds of clients, from equipment manufacturers to distributors and other referral businesses.
An Equipment Leasing Agreement is a financial agreement in which the equipment is purchased to be rented for a certain period with the opportunity to buy it at the end of the rental period. There are a few difference between an equipment lease and an equipment finance agreement that are important to understand. With equipment leasing, the business owner does not own the equipment until the end-of-lease option is exercised, which is different from a loan (EFA). In simple words, equipment leasing is obtaining machinery, vehicles, or other equipment on a rental basis.
This financing alternative avoids the need to invest capital in equipment. Ownership rests in the hands of the financial institution or leasing company, while the business makes actual use of it.
Business owners opt for leasing instead of buying to keep equipment costs down. Almost any type of equipment can be leased, including computers, heavy machinery, and even office spaces. The kind of industry you're in and the kind of equipment you're considering are significant factors in determining whether to lease or buy.
For example, suppose you're opening an office with many employees and require a dozen computers. In that case, the best decision is equipment leasing. According to the Equipment Leasing Association of America, many U.S. companies (approximately 80%) lease some or all of their equipment.
This specific service is different from a loan because business owners do not own the equipment until the lease is completed. Business owners often struggle when trying to obtain the equipment needed without putting their cash flow at stake. We offer the perfect solution for companies in this situation with our business equipment leasing programs. 1st Commercial Credit’s equipment financing products and services are customized to fulfill your unique business goals and needs. We also work with owners to create payment options that work for your specific situation. The cost of new equipment can be very expensive and goes beyond the labeled price when adding the shipping, taxes, and other expenses