Equipment Leasing Lease Finance Financing Assets 7 Park Avenue Financial

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        Financing & Cash flow are the biggest issues facing business today 

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Financing assets in Canada is based on the premise that your business requires these assets to stay both competitive and probable. The reality of acquiring assets for your business of any type is understanding that they typically depreciate in value - that’s why lease finance works! Want the ' good stuff ' on this accepted and popular asset finance strategy?  Let's dig in.

A commercial lease finance company is more often than not your best partner to acquire and pay for assets on your behalf - and that means any kind of assets - plant equipment, rolling stock, software, technology, etc. Almost any asset can be financed.

So how does a truly effective lease financing solution work? Simple actually - you lender purchases the equipment on your behalf - they outlay the full purchase price and you ' lease ' it back over a fixed period of time - typically from 2-7 years.

Numerous benefits accrue to your form when you acquire assets through lease acquisition. Simplicity is often the key driver here, as many applications can be adjudicated in a manner of days, if not hours! Typical info you might need to provide is a description of the assets, or perhaps a quote from a vendor, your business financials, and miscellaneous info required to prove that the asset will generate cash flow and revenue and profits to grow your business.

That simplicity becomes a little more challenging by requiring you to ensure that you have picked the right type of lease/ financing partner. Here it might be good to get the assistance of an industry professional.

Not only the type of lease you pick is important - it’s also critical to ensure your company knows your rights and obligations at the end of the lease. Most clients wish ownership of the assets or technology to revert to their company at the end of the lease term. However in certain cases many businesses should look at operating leases to simply use the assets with the lease term - that often lowers the monthly payment. Bottom line - it's all about knowing what value the asset has to your business at the end of the lease term.

Looking for some good news in these challenging troubled times? Well the reality is that lease finance solutions are available to pretty well every firm, from start-up to established corporation. Even the largest well known public companies of significant size use equipment leasing for cash flow and balance sheet reasons.

Quite frankly, as is the case in a lot of banking scenarios transactions for smaller or start-up firms are based significantly on the credit history and business experience of the owners, so Canadian business owners should be prepared to demonstrate the proper credit history and business acumen.

There is no limit to the amount of financing that is available in Canada for lease financing. During the economic crunch of 2008 and 2009 many lease firms actually got assistance from the government to keep the wheels of lease financing moving. Markets have stabilized and funding is generally as abundant as it ever was for the right types of assets and credit quality.

Our bottom line today?  Lease financing is very simple and has clear benefits. As we noted the challenge is in getting approval for the right transaction in terms of credit approval, rate, and overall lease structure.

Seek out and speak to a credible, trusted, and experienced advisor in this area to ensure you are making the best use of this valuable Canadian business financing strategy.

Stan Prokop