Business Equipment Leasing
Business Equipment Leasing is a type of business loan service we offer at Stellar. Get our capital working for you with our short-term lease program.
If buying equipment is not an option for you, leasing is an excellent alternative. You can finance 100% of the purchase price, and costs include items such as shipping and setup, plus extended repayment terms.
- Equipment, either new or used, can be financed as long as it has a useful life of 3 years or more.
- Terms run 24 – 72 months, and sometimes up to 10 years for heavy equipment.
- Lease amounts range from $5000 – $500,000.
- APR’s go from 12% – 25% depending on term length, credit worthiness, and type of equipment.
- A minimum FICO score of 550 is required.
- Payments are structured to meet your needs, including seasonal or deferred payment options.
- Repayment is made through Direct Debit ACH or, in some cases, by check.
There are 2 ways you can use our leasing program, you can either get funding to lease equipment that you’ll need, or lease back equipment that you already own to provide yourself some working capital.
Some examples for equipment leasing are:
- Replacing rundown heavy machinery for construction companies.
- Upgrading medical equipment for doctors’ practices.
- Modernizing kitchen appliances for restaurants.
- Setting up computer systems or furniture for offices.
- Supplying furnishings for factories and warehouses.
There are many advantages to leasing:
- It frees up cash for other uses.
- Improves your credit score when you establish this new line of credit.
- Is quicker and easier than traditional financing with less paperwork and credit requirements, and lenders use the equipment you lease as collateral, therefore reducing their risks.
- It may be a better idea to lease equipment, such as computers and other technology, that go out of date quickly.
- You can deduct payments on your taxes.
- Upfront costs are lower.
- Maintenance and repairs are often included.
With most leases, you will own the equipment outright at the end of the leasing term.
The other part of our leasing program is a Reverse Lease, also called a Lease Back, on equipment you already own. Your equipment becomes collateral for funding with repayment terms of up to 60 months.
With more than 15 years of experience in the industry, we know this business and have built up a great network to help you out.
Contact Us, we’d be happy to answer any questions, and get you started with either of our business equipment leasing programs.