YOUR COMPANY IS LOOKING FOR EQUIPMENT FINANCING AND LEASING SOLUTIONS!
CANADIAN EQUIPMENT LEASING FOR YOUR ASSET ACQUISITION NEEDS
You've arrived at the right address! Welcome to 7 Park Avenue Financial
Financing & Cash flow are the biggest issues facing business today.
ARE YOU UNAWARE OR DISSATISFIED WITH YOUR CURRENT BUSINESS FINANCING OPTIONS?
CALL NOW - DIRECT LINE - 416 319 5769 - Let's talk or arrange a meeting to discuss your needs
EMAIL - sprokop@7parkavenuefinancial.com
7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8
Equipment financing in Canada; as a Canadian business owner or financial manager, can you properly identify the best lease finance company solution for your asset acquisition requirements? Making the right choice and decision will make your firm a 'success story' for asset finance needs. Let's dig in.
FACTORS IN PICKING YOUR EQUIPMENT LEASE FINANCING PARTNER
There are actually different types of lease financing sources in Canada. Which one is right for you depends on a couple of key factors -
Size of the asset/financing in dollars
Your overall credit quality
The nature of the asset
Although there are different asset finance choices regarding who you will deal with, it's important to note that your process will relatively always be the same.
EQUIPMENT LEASES CAN BE BOTH SIMPLE AND COMPLEX DEPENDING ON VARIOUS FACTORS
That process includes negotiating pricing, terms and lease documentation. In transactions less than 100k with leasing companies in Canada, quite often, a simple one or two-page lease document suffices. For larger transactions, you might be required to address more complex documentation, but the industry prides itself on keeping things simple.
WHEN LEASING EQUIPMENT YOUR VENDOR IS PAID BY THE LEASING COMPANY
Other issues you have to cover off in a ' normal ' process include determining how and when your vendor/supplier will be paid - in most typical situations, the lease finance company pays your supplier directly. Equipment finance conserves cash outflows!
DON'T FORGET THE CRITICAL ASPECT OF ADDRESSING END OF THE LEASE OPTIONS AND OBLIGATIONS
Remember that your payments will begin when you have accepted the asset as being delivered/operable in any lease transaction, etc. Remember that while most clients we meet to focus on starting a lease, it's critical to focus on and understand end-of-term options. They might include upgrading, returning, disposal, etc.
We meet many new clients at 7 Park Avenue Financial that focus a little too much on ' lease payments' and ' what's my rate'! when it comes to solutions offered by Canadian financing companies.
6 EQUIPMENT FINANCING SOURCES IN CANADA
They are commercial leasing companies, captive financial firms that are aligned with a particular manufacturer, your vendor itself (some vendors will provide asset financing of their products), insurance companies, banks, and finally, a lease advisor who is properly aligned to ensure you select the right lease entity.
3 FACTORS TO DETERMINE YOUR BEST LEASING PARTNER
Which solution is best for your asset needs? The answer lies in issues we've discussed already, re $ value, your firm's ability to demonstrate commercial creditworthiness, and the type of asset you are financing.
DIFFERENT FIRMS HAVE DIFFERENT FOCUSES - THAT THE BENEFIT OF DEALING WITH 7 PARK AVENUE FINANCIAL AS YOUR TRUSTED LEASING PARTNER
Remember that all 6 different solutions have different focuses re geography serviced, deal size appetite, types of assets they prefer to finance, and credit strength preferences. When it comes to credit quality, almost any asset can be financed - that flexibility comes from the ability to alter terms, get a down payment, or address additional collateral requirements. Your interest rates on financing equipment will vary based on factors such as the size of the transaction, overall credit quality, type of asset or asset being financed, etc. Monthly payments in lease transactions are a factor of the term of the lease, interest rate, future value of the asset, and the loan amount - Any of these can be calculated if the others are known.
While some Canadian companies choose a business loan/ equipment loan versus a lease, factors as interest rate and conserving capital come into play in your final decision when considering equipment leasing companies.
CONCLUSION
Any equipment can be financed. Financing equipment is a part of everyday asset acquisition in Canada. New equipment and used equipment can be funded. A proven way to choose the right lease company is to ensure you're working with 7 Park Avenue Financial, a trusted, credible and experienced Canadian business financing advisor - ensuring your asset finance needs become a true Success Story via Canadian equipment finance.
Click here for the business finance track record of 7 Park Avenue Financial
Stan Prokop
7 Park Avenue Financial/Copyright/2021/Rights Reserved
