Need Cash Fast for Your Business? Lease Buybacks Will Leverage Existing Assets
NO OBLIGATION! NO HIDDEN FEES!
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What is a Lease Buyback Loan?
Lease buybacks are very similar to equipment financing in that the lender is using the piece of equipment as collateral for the loan. Equipment loans are common for new purchases where business needs increase. However, sometimes you just need an injection of cash to be made available for various business expenses. Whether you need to cover payroll or an emergency expense, using your existing equipment assets as collateral for a loan could help bridge the gap. You benefit by continuing to use the equipment to generate revenue, while managing cashflow with a line item on your books that can be written off as an expense and is non-reporting. In most cases funding usually takes as little as 48 hrs to complete from the time the application is submitted. This could be a great option for a business that is cash strapped. Interest rates are dependent on credit worthiness, however they remain competitive in today’s market.
The required documentation to get started with lease buybacks is the same as equipment financing. Simply call us or submit a request for information and one of our loan originators will guide you through the application process.
What Documentation Should You Prepare?
The following supporting documents is what we need from you to begin originating a loan application for a lease buyback.
- Application Form (provided upon initial contact/consultation)
- Personal Financial Statement Form ***if funding amount is over $100,000 (provided upon initial contact/consultation)
- Copy of Government Issued ID
- Original Bill of Sale for equipment being financed