When the equipment has been delivered and is operational. We will conduct a “verbal authorization” where you will instruct us to pay the vendor and commence the lease.
We are able to offer equipment financing in all 50 states for nearly any type of equipment. Although we do have several industry specific focuses we can also act as a general equipment finance company.
Partnering with us will help build and maintain your business credit. All reporting is done your business’s credit, saving your personal lines of credit for your personal use. Additionally, financing conserves your cash and credit lines in case of an emergency or when your business really needs it.
In some instances the monthly lease payment is treated as an operating expense and creates a “line item deduction” against revenue. In other instances the equipment is depreciated and written off over the useful life of the asset. Because every business is unique, we encourage you to seek out a qualified accountant to assist with the specific situation regarding your business or organization.
The first and last payment is usually required, plus any documentation fees.
The lessor is the owner of leased equipment until you choose to purchase the equipment at the end of lease term. In the case of an EFA, the borrower automatically becomes the owner at the end of term.
A lease is flexible and can be tailored to your business needs. 95% of our customers opt for an Equipment Finance Agreement or EFA which results in the borrower owning the equipment at the end of the term. Terms typically range from three to seven years. The payment schedule can be fixed or timed to fit your needs. The most common is equal monthly payments.
The length of time in business, business borrowing history, and personal credit history and score are some of the factors used to make credit decisions for approval.
With most transactions that are under $100,000 the pre-qualification process is completed within 1 – 2 business days. We will then issue the final documentation and when the equipment is delivered we are ready to pay the supplier. In most cases the funding only takes a few days. The longest lead time is typically associated with the equipment availability.
A signed and completed credit application. We can typically issue approvals from $10,000 up to $100,000 based upon the application alone. Certain programs can qualify for up to $250,000 on an “application only” basis.
We believe in doing business in a forthcoming manner with no surprises. All fees and charges (usually only a small administrative / documentation fee) are disclosed in an easy to read invoice included in your document package.
Although we would love to have the lowest prices in every instance, we know it is impossible to achieve. We carefully set our lease rates at a competitive range depending on the size of the transaction, equipment type, credit quality and other factors. Our lease rates are often on the lower end of the spectrum due to the outstanding performance of our portfolio (minimum losses).
FINANCING SOLUTIONS FOR YOU AND YOUR CUSTOMERS
FINANCING FOR YOUR BUSINESS
Looking to add new equipment to your business? AP provides fast, flexible, knowledge-based financing programs, resulting in your equipment coming to you even faster!
FINANCING FOR YOUR CUSTOMERS
Increase your sales by providing flexible financing options for your customers. AP’s industry specialists know your market, product and services, and work with you and your customers to find the best financing solutions for their business.