Choose Leasing

Purchasing updated equipment on a regular basis is out of the question for many business owners. While most owners make the best of the equipment they have, some owners are looking are turning to equipment leasing to assist in upgrading their outdated equipment. Equipment leasing allows businesses to acquire equipment and resources needed through financing solutions that have been proven to work for centuries. Equipment leasing offers a solution for businesses of all sizes.

The Benefits of Equipment Leasing:

• Keeping your cash free for marketing, working capital, or seasonal cash flow needs.
• Profits are generated when you use your equipment, not by owning it. Use updated equipment to grow your business without purchasing costly equipment.
• Tight budgets often keep businesses from acquiring the equipment they need to grow. Equipment leasing utilizes small monthly expenses rather than large totals. ExecuTech specializes in offering options to businesses. Options that can help any budget for any business.
• ExecuTech also offers 100% financing. This will allot you to use your equipment immediately with simple monthly payments instead of large upfront fees. With a bank loan, there is a down payment and compensating balances required. Other leasing companies may require first and last month’s payments, ExecuTech doesn’t require any payment until your first ACH after install of the equipment.
• Equipment will grow inefficient over time. Leasing new equipment ultimately ends up paying for itself over time.
• Some equipment leasing programs allow businesses to claim lease payments as an operational expense. This allows opportunity for deductions.

Make the ExecuTech decision today and start leasing your equipment.
Phone: (360)713-0695

If you would like to offer leasing as a solution to your customers click [ Vendor Profile ] then fill out, endorse, and submit to our office via fax or email:

Fax: (877)996-0040

Email: kylem@elgleasing.com

Equipment leasing is on the rise

If your company still is not offering a leasing option, or you would like to evaluate the rates/factors you have with your current lessor, contact us today and make the ExecuTech decision. (360)713-0695

How Leasing Works

A Lease is a rental agreement for a specific term that is generally non-cancelable. Leasing activities are generally divided both in format and organizational structure into commercial leasing and consumer lending.
Today we are going to write about commercial leasing only. Consumer leasing is a highly regulated business, requiring federally mandated disclosures, and providing for penalties for non-compliance that can be as onerous as those imposed for violations of consumer lending laws. One of the major advantages of commercial equipment leasing is that it is essentially an unregulated industry. While there are statutes and case law concerning commercial leasing, there is no regulator who regulates this industry and no license is required. This is only true as long as the lease can be accurately characterized as a "True Lease".
A true lease I an alternative to buying a product for cash or borrowing to obtain it. It is a means by which a business of person obtains operating privileges and responsibilities associated with ownership of an asset, without assuming the ownership risks or rewards of deprecation or appreciation in the market value of the asset.
To be considered a true lease, the documentation must provide for the use of the product of goods for a specific length of time at a specific cost. The lessor assumes all ownership risks. If the transaction includes an option for the proposed lessee to obtain or assume ownership for abdominal price during the term of the lease or at the termination of the lease, it is not a true lease. IT is a "financing" and is subject to all the rules, regulations, licensing, and usury penalties that the state or federal jurisdiction can impose. Regardless of any special negotiations regarding tax credits of other benefits, a true lease always has the characteristic that it will not allow transfer of tile at any time. An option to buy is frequently a part of lease transaction. However, the option is exercisable after the lease has been satisfied, must be for the fair market value of the equipment, and must be, in fact, an option exercised at the discretion of the lessee and not a "put" requiring purchase.

History of Leasing

Product leasing, as an alternative to ownership, is not a new industry.  While leasing is surely a devise of the twentieth century financier, its origins may be found in the days of ancient Rome, when ship manufacturers frequently rented of leased their vessels to merchants and traders who wished to sail the Mediterranean Sean.  Since that time, the leasing concept has been widely embraced and expanded to include a broad range of products.  The business equipment and automobile industries have demonstrated to business management the usefulness of the lease, not only as a serviceable financial tool, but also as an effective means of marketing.  These firms developed profitable approaches to implement their business strategies through leasing.

Leasing as a financing tool started to grow rapidly in the 1950's and 1960's.  At that time, the financial community witnessed significant increases in the leasing of heavy equipment form a firm that did not manufacture it, and in personal property leasing, such as automobiles.  During this period National Banks started financing leases, making the tool a more acceptable one.

As business started discovering the accounting aspects of leasing it became more desirable as an alternative to paying cash, or financing equipment on a loan.  Various tax incentives have increased its popularity also.

Today equipment leasing covers practically every kind of equipment, and every kind of business.  It is done by all kinds of financial organizations from small finance companies to Wall Street.  It has become one of the most important elements in providing the tools to build the American economy.

Medical Equipment

We posted yesterday in regards to the growing medical industry. The Equipment Leasing and Finance Association (ELFA ) released today that the medical industry is expected to be the #1 industry for leasing in 2011. We are gearing up for this by adding more medical equipment to our approved list. If you are a medical supply or medical equipment distributor we would love to look at your leasing needs.
Contact us today (360)713-0695

Medical Equipment Leasing Comes to the Rescue

Recent increase in the Healthcare industry due to a growing elderly population, increasing national expenditure on healthcare; and a growing need for medical procedures, products, and services; alternative payment methods are needed. Leasing is growing traction in this industry over standard financial avenues. ExecuTech Lease Group specializes in Medical Equipment Leasing and is ready to start looking at your business. If you would like another avenue to utilize for your equipment leasing. Contact us today.

(360)713-0695
kylem@elgleasing.com

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LEASE PROCESS FLOW

1.        Credit

a)      For ExecuTech to be able to pull credit, one of the 3 follow will need to be submitted

1.       A completed and Signed Merchant Processing Application

2.       A completed and Signed ExecuTech Lease Agreement

3.       A Completed and Signed ExecuTech pre-application

b)    Fax or Email one of the three documents to your program manager.  (See welcome letter for program manger contact information)  

d)    EXECUTECH will pull credit from the bureaus and fax or e-mail our response usually within 15 minutes if received by 4PM Pacific Standard Time. Responses include:

•        Approved

•        Declined

•     Pending – We will request additional information

2.        Complete the Lease Package

Lease Package includes:

a)    ExecuTech Lease Agreement completely filled out where the Merchant has signed for the business and the personal guaranty.

b)    A Copy of a Merchant Processing Application with merchant signature.

c)    A voided bank check from the merchant of where EXECUTECH will ACH draw the monthly payment (ACH is required on all leases).

d)    Merchant’s federal tax ID number and merchant’s bank number.

e)    Please Note:  Additional information including financial statements may be required for transactions over $5,000. Applicable taxes must be added to each invoice or payment (depending on state).

f)     Send the COMPLETED lease package to your program manager.

 

3.        Verification

Upon Installation

a)         Upon completion of equipment installation, immediately notify ExecuTech.  You can do this one of three ways (see welcome letter for contact information).

1.       Calling from the merchant’s location

2.       Having the merchant contact us directly

3.       Contacting ExecuTech directly yourself

b)      Unless previously provided, please have the serial number and MID Number ready at the time of confirmation.

c)      EXECUTECH will walk the merchant through a verbal checklist to make sure they understand the terms and nature of the lease.

•        NOTE: We MUST verify with the person who signed the lease.        

e)      ExecuTech is available for verbal confirmation Monday through Friday, 8am-5:00pm PST. 

f)       Submit signed and dated Delivery and Acceptance certificate via fax or email.

4.                   Funding

To fund, EXECUTECH must have:

a)      An email or fax copy of the completed and signed lease package including Delivery and Acceptance Certificate.

b)      We must have a copy of the merchant’s voided check so we can set up the ACH debit account with their bank.

When we have a complete package in hand, we will ACH funds to your account.  ExecuTech offers Next Day ACH if all documents are submitted to by 11:30am PST.  If you have any questions about the process, please contact your program manager.

Congratulations!  You have just funded your first deal with EXECUTECH Leasing Group.