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What Is Equipment Leasing and Is It Right for Your Company?

July 2, 2019
By Michelle Black –

EquipmentNo matter how smart you are or how great your product may be, your business needs one very important ingredient if it’s going to thrive — the right equipment. The right equipment can help optimize performance and take your business to the next level, but it might be out of reach.

Thankfully, an equipment lease may be able to help you get the specialized machinery or technology your company needs now, even if you don’t have all the money you need to pay for ownership of the equipment up front or you’re not interested in equipment loans.

With an equipment lease, you get the right to use the equipment while you’re making monthly payments to a leasing company or financial institution.

What is an Equipment Lease?

Essentially, equipment leasing can be viewed as an alternative form of small business financing — most notably equipment loans. It’s a way to help you get what your business needs now with less money out of your pocket on the front end. However, you’ll generally need a decent personal credit score to qualify for the most attractive rates and terms. (more…)