Frequently Asked Questions
What is leasing?
Leasing is a simple agreement between the leasing company (lessor) and the user (lessee) of the equipment. The agreement covers the use of equipment for a monthly payment (rental) which can be structured to meet a company’s cash flow needs, as a tax write-off or to meet certain financial reporting requirements.
There are many advantages to leasing. A few of the advantages are.
- Frees working capital by providing 100% financing including tax, freight and installation;
- May cost less than other financing alternatives (including traditional bank financing);
- Lease payments are often 100% deductible from income before taxes; and
- Leasing is more flexible than conventional financing with terms from 1 to 5 years or longer. Deferred, seasonal and skip payment programs are also available.
Can I buy from vendors I choose?
Yes! You simply shop for the equipment you need to grow your company, negotiate price and we handle the financing, whether it is one vendor or multiple vendors.
Can I finance used equipment?
Yes! As long as the equipment is in good working order, it can be financed.
Do I need to submit financial statements?
No! Alliance can provide financing up to $150,000 in equipment cost with a simple one-page credit application – NO FINANCIAL STATEMENTS REQUIRED!
Can I finance equipment I already own?
Typically we can provide financing for equipment up to one year after it has been paid.
What is the minimum and maximum dollar amount I can finance?
Our normal finance programs begin at $10,000 and go up to $5 million. Exceptions can be made for transactions under $10,000.
How long does the process take?
For transactions $150,000 and under, approximately 4 hours. For transactions up to $250,000, approximately 48 hours and for transactions above $250,000, 3-5 business days.
What is my buy out at the end of the lease term?
There are several different options to choose from. One option is to purchase the equipment for one dollar, similar to a typical bank loan. Another option is to purchase the equipment for a predetermined percentage of original cost, usually 10-30%. Or you may choose a Fair Market Value lease which offers the option of returning the equipment, buying the equipment for Fair market Value, or continuing to lease the equipment for another 12 months.
How do I get started?
Simply call us at 877-406-3222