What is LeaseBanker by FCL?
LeaseBanker by FCL is an established equipment leasing company with a powerful online presence to enable our customers to obtain fast equipment lease approvals. We have designed our site specifically to optimize the leasing process and allow for real time lease applications and quick approvals.
What kind of equipment can I lease through LeaseBanker?
The LeaseBanker by FCL program allows you to lease any kind of equipment you would like.
Will I get a competitive leasing rate?
Yes. In fact, LeaseBanker has consistently provided lower rates than our National competitors.
Is there a maximum or a minimum lease amount?
The minimum lease amount LeaseBanker will consider is $2,000.
My Equipment supplier requires a deposit. What are my options?
In this scenario, there are a few possible options. First, you may pay the deposit and lease the balance, or lease the entire cost of the equipment including the deposit. Also, you will be able to request a deposit reimbursement upon your application. This means that we pay the equipment supplier in full, and the equipment supplier will return your deposit.
Must the equipment I am leasing be insured?
Generally, you will need insurance. In most cases, your business insurance will cover equipment leases. If you do not have business insurance, you can simply request optional insurance coverage on your application.
Can I include services such as consulting and training in my lease?
Yes, partial funding is available for these costs.
Can I still lease equipment if I have already purchased it?
Yes. This what is known as a sale-leaseback. This option is typically available for equipment that has been purchased within the past 90 days.
Can I finance the remaining balance if I have placed a down payment on the equipment?
Yes, if you choose to make a down payment you can subtract that amount from the total owed on the equipment. For example, if you purchase $60,000 worth of equipment and make a $10,000 down payment, your lease would only finance $50,000. Remember, however, that you will not own the equipment until the lease ends.
Will LeaseBanker lease to start-ups?
Yes. LeaseBanker is willing to finance companies that have been in business for less than two years. However, because you are considered a higher risk company, you should expect to pay a slightly higher rate. Additionally, in many cases you may be required to provide a personal guarantee.
Can I get a lease if my company is in the process of acquiring another company?
In most cases this indicates strength in your business. In many cases, expansions will add multiple locations and additional officers. If this is the case, you will need to specify on your application what equipment is going to what location and the individual locations will need to be approved.
Can I get a lease if I have had a bankruptcy?
LeaseBanker by FCL is willing to review your situation and will consider financing companies that have had a bankruptcy. But because your company will be viewed as a higher risk, you should expect to pay a slightly higher rate.
If you have other questions which have not been covered here, contact us here.
LeaseBanker by FCL
FCL/LeaseFirst Inc.
5575 Poplar Ave. Suite 424
Memphis, Tennessee 38119
901-763-4080
(866) 340-7376
Fax 901-761-5862
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