YOUR TRUSTED SOLUTION FOR AG , COMMERCIAL & MUNICIPAL EQUIPMENT FINANCING & LEASING SINCE 1989!
Let EquipLease Financing help you grow and expand your current operation with programs designed to meet your needs. With over 40 years of experience and knowledge of the marketplace, we have the ability to help you reach your goals
Anything new or used over $10,000
a. New equipment is possible with up to a 50-60% p.o. with hour limitations
b. Payments monthly, quarterly, semi-annual, annual or the harvest plan
GRAIN STORAGE , DRYING & HANDLING EQUIPMENT
Up to 7 year terms
Let EquipLease Financing help you lighten your load. Whether it's an equipment upgrade or a focus on profitability, find out how EquipLease can assist you in reaching your goals.
New or used from $10,000 up to $20 Million
A loan provided against a signed contract that your business has won.
ACCOUNTS RECEIVABLE FINANCING
You sell unpaid invoices and receive most of the money owed in a short time.
HOW LONG OF A TERM CAN I LEASE FOR?
Typical terms are 36 to 60 months with the possibility of 84 months on certain equipment.
CAN I DEFER OR SKIP PAYMENTS?
Yes, we offer deferred, skip and seasonal payments that fit into your cash flow.
WHAT IS THE RATE?
The rate will depend on the term, equipment cost, type of equipment and credit worthiness.
WHAT ARE THE CREDIT REQUIREMENTS?
The individual or business must maintain a satisfactory and clean credit history (no bankruptcies or tax liens.)
CAN I RETURN THE EQUIPMENT AND STOP MAKING PAYMENTS?
No, the lease is non-cancellable. (And neither is your bank loan)
DOES ALL THE EQUIPMENT HAVE TO COME FROM THE SAME VENDOR?
No, you can acquire equipment from multiple vendors or an auction.
CAN I LEASE USED EQUIPMENT?
Yes up to 20 years old (depending on type of equipment).
WHO HAS RIGHTS TO WARRANTIES AND LICENSING FOR THE EQUIPMENT?
Warranties and/or licensing offered by the manufacturer are passed on to you, the Lessee.
HOW LONG DOES THE LEASING PROCESS TAKE?
Typically 1 to 2 days, with only an application and financial statement up to $150,000
WHAT IS THE FIRST STEP TO GET THE LEASING PROCESS STARTED?
Call and I will email an application. Then you can return it via fax or email.
Bill Mapes and his associates have over 40 years of experience dealing with the complex environment of equipment financing and leasing. While so many municipal entities, not-for-profit organizations and tribal councils are struggling with their budgets, we offer an immediate solution with multi-year lease purchase options enabling you to acquire vital equipment now and then make installments over a period of years!
FOR MORE INFORMATION CONTACT:
Shelly Mapes at 316-616-8100 or via email at email@example.com
1. Flexibility in Lease terms – monthly, quarterly, semi-annual and annual payments
2. No Prepayment fees
3. Minimal down payment is required
4. Non-Appropriation Clause – this specifies that the lease may be terminated in the event funds are not available in subsequent fiscal years
5. Ownership plan – the lease can be 3-10 years but after completing payments, you own the equipment
6. 100% of the equipment cost can be financed/leased as well as training and maintenance
7. Vendors – you may use multiple vendors to furnish equipment under a single lease agreement
8. Low Interest Rates – municipal agencies can obtain lower rates than commercial financing
9. No Bonds needed – skip the lengthy and expensive process of issuing bonds. This means quick delivery without waiting which increases productivity.
10. No Balloon or Residual payment at completion
Because the acquisition costs are spread over multiple fiscal years, a municipal lease removes the budgetary constraints, permits the immediate purchase of needed equipment, allows an upgrade of the equipment and provides the ability to obtain additional units.
What can be leased:
Computers and tablets, copiers, software, telecommunications, IT infrastructure, energy saving projects (HVAC, LED lighting, roofs, boilers, etc.) and modular classrooms basically anything that is “essential use”.
Characteristics of lease purchase financing/leasing:
1. Voter approval is not needed. Funding comes from annual operating budget.
2. A lease's APR compares favorably with Bond Issues when issuance costs and staff time are taken into consideration.
3. Proves effective for terms under 10 years and less than $10 million.
4. Lease documentation is more simple and the process moves faster. Staff time and soft costs are minimized.
5. No additional fees or reporting requirements.
6. Leases renew on a year-to-year basis and are dependent on annual operating budget thus are not considered debt keeping future bond alternatives open!
7. Early buyout options are available.
8. Finance or lease only what is needed.
9. Provides ability to terminate without penalty if funding is not available.
10. Matches expected useful life of leased property to the term of the lease.
Characteristics of bond issues:
1. Need voter approval – risk loss of referendum with cost of election and advertising.
2. Issuance cost will be high and measurably affects true borrowing rates.
3. Appropriate for large issues and long terms to lock in low rates.
4. Bond issuance process is slow, consumes staff time and incurs hidden expenses and overhead costs.
5. Costs continue after bonds are sold – trustee fees, compliance reports, footnote disclosure and added audit fees, periodic rating agency reviews and fees.
6. Restricts future bond issues because of covenant constraints.
7. Will have call provisions with prepayment penalties after a period of time.
8. Bond issues may not exactly match capital needs. Excess bond proceeds may end up in general fund and earn less than the borrowing rate or general funds will be used to make up balance of cash needed.
9. Commits the government entity to fixed payments regardless of local economy cycles.
10. Bond term may exceed life of the equipment.
EquipLease Financing - Serving our customers since 1989.
Financing & Leasing of new and used Ag, Commercial & Municipal Equipment Nationwide.
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