We’re in the business of helping your business thrive.
Spring 2022 Important Update!
Export Development Canada (EDC) is offering loan facilities pursuant to the Trade Recovery Guarantee (TRG) program.
The TRG program provides qualifying businesses with access to up to $6.25 million. Customized to the needs of the client, working capital facilities are available through operating lines of credit or term loan facilities.
You may be an exporter and not even have defined yourself as being one!
You are only three steps away from applying.
- Determine if you are eligible
- Learn more about EDC TRG
- Apply for your TRG facility
Click here to find out if you qualify and apply today!
*An Authorized Accord Express Referral Partner
Considering new or used equipment for your business that will help you with:
- Increasing production
- Eliminating outsourcing costs and issues
- Increasing productivity through automation or CNC
- Updating your equipment to meet new technology demands
- Providing a new product or service to your clientele
- Replacing equipment that is causing you down time or costing you too much for maintenance
- Keeping current with your equipment to appeal to new clients or prospective business buyers
- Getting your business started
What is Equipment Lease Financing?
This form of financing is for businesses that want to own the equipment at the end of the term, hence the term Lease to Own Financing.
Equipment Lease Financing is
- Business to Business (B2B) Asset Based Lending / Financing and is a credible mainstream industry that gives you an alternative to bank loans and lines of credit.
- It helps reduce risk by diversify your debt.
- Terms and structures of lease financing for businesses are very flexible. We work with you to structure the lease that is best for your business.
- Credit approval can be done is as little as a few hours.
In short: the lender (us) purchases the equipment that you require for your business from the vendor of your choice. You have agreed that you will “rent” it back under the terms of the lease that include a predetermined purchase option* at the end of the term.
This purchase option can range from Fair Market Value to as little as a dollar.
Why Equipment Leasing?
Increased Buying Power:
Pulling the total cost of equipment from your cash on hand is not always possible or the best solution. Perhaps you need several pieces of equipment but only have the money for one. With Equipment Lease Financing your budget may well allow you to get all the equipment you need to grow. Smaller, periodic payments of a lease allow you to increase your purchasing power. “Cash is King” and having a healthy cash flow is very important to the success of your business.
Tax Advantages:
In most cases, lease payments are treated as an expense that is 100% tax-deductible in Canada. This can produce significant savings and put your money back into your company – where it should be! Talk to your accountant about how this might work for your business.
Easier Budgeting & Cash Flow:
Fixed monthly lease payments make planning easier. You can generate cash flow by making use of your equipment immediately. Your cost-to-income ratio is more likely balanced with a lease rather than a large up-front, non-leased equipment purchase. The equipment pays for itself while it works!
Preservation of Cash & Credit Lines:
Leasing your equipment allows you to preserve your cash and lines of credit for their intended purpose of operating expenses like stocking inventory, raw materials costs, or unexpected expenses. Remember that a line of credit is really a demand loan and not a great idea for equipment purchases!
Increased Production & Profit:
Old, worn-out, outdated equipment can greatly diminish your ability to produce for your clientele efficiently and profitably. Constant downtime for repairs can cost you greatly and potential clients may be swayed by updated technology. Additionally, should you be looking to sell your company in the future, updated equipment increases the value of your company. Equipment leasing enables you to upgrade and expand the services your business can offer, allowing for greater profit.
Fast, Convenient and Flexible:
You may need to move quickly to take advantage of opportunities and we get that. Our processes are easy and fast. We have a simple application process and approvals can be in as little as an hour. We can provide documents quickly and walk you through the details. We also structure leases to suit your business. Ask us about skip or seasonal payment options and terms from 6 to 72 months. *OAC. If you need to upgrade your equipment during a lease so you stay efficient and current with technology, we can do that too!
Things To Keep in Mind
Lines of Credit:
Using a line of credit for equipment purchases can be detrimental to your business. A line of credit is actually a “demand loan”. This entitles the bank to reduce or revoke the loan at any time. Interest rates are also subject to fluctuations.
Credit Cards:
Credit cards are typically a very high-interest form of financing and not recommended unless you are able to pay off the balance every month.
The Process
- Whether you are shopping for the equipment you need or have already found it from the vendor you choose, give us a call to go over your plans.
- We will source the best lease structure and terms for you and your business
- We contact your vendor and arrange the details
- After delivery we complete the payment to the vendor, and you go to work
We want you for a long time not just one time.
We stay in contact with you through the whole term of the lease and we let you know when important dates like your end of term purchase option is coming, so you are ready.
We are here for you always!
The Lease 1 Financial Advantage
- Unmatched Value: We offer highly competitive rates, unparalleled service, and deep expertise in equipment lease financing. No matter what business you are in or what equipment you need, we are the best choice to help your business thrive.
- Personal, Professional Service: We pride ourselves on our professional advice and handling every detail of your Equipment Lease. We are not a large faceless organization and for us, you are more than just a number. With Lease 1 Financial you get our complete personalized AND professional attention.
- Deep Expertise: With decades of industry experience, we are experts in Equipment Lease Financing. It’s our priority to make sure you understand all your lending options and the implications of choosing one financing arrangement over another. We help you find your ideal lease financing terms and structure.
- Convenience: Have you ever had to figure out who to call about your lease? Ever missed a buy out and ended up paying more than you should have? We track all the leases you do with us and notify you when important dates are coming up – like your buy out option! With us, you only make one phone call. We look after the rest!
- Shared Values: We get it. We’re businesspeople too. Any time you invest in your business and take on a financial obligation, there are implications for everyone who counts on your business to feed their family. We’re driven to help you succeed and every decision we make, product we recommend or phone call we answer comes with that at the front of our minds.
Some of the Industries We Serve
- Hospitality
- Health Care
- Manufacturing
- Service Trucks/Trailers
- Wood Working/Cabinet making
- Material Handling/Warehousing
- Janitorial
- Landscaping
- Packaging
- Recycling
- Golf Course Maintenance
- Health and Fitness
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Need Equipment Financing, But Don’t Think Leasing is an Option? Read This!
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Your business needs equipment financing, and you’ve decided the benefits of equipment leasing apply to your business. The next step is to apply for an equipment lease. How can you get approved for an equipment lease? In this post, we’ll explore what lenders are looking for and what you need to get approved. Then we’ll leave you with a few quick tips to help you in your lease application process. Why don’t some businesses get approved for an equipment lease? Some businesses don’t get approved for an equipment lease because they can’t provide assurance to lenders that they can
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You’re shopping around for the best lease financing deal, but the quotes you receive make it difficult to compare your options. There are too many variables in each quote. Calculating the cost of financing is the trick to accurately compare lease financing options. What will it cost you to borrow the money you need to make your equipment purchase?
