As a business owner you love informed choices. When you are looking for asset acquisition via equipment financing you need leasing companies and business financial services advice on the best way to achieve finance success - and that requires being informed on equipment leasing.
So whats the scoop on the current equipment finance situation in Canada? Most business owners know that the ability to achieve the business financing you need became extremely difficult over the last couple years. Leasing companies were affected just like others - in fact many companies disappeared, were bought up, and most importantly, lost critical sources of their own funding - the bottom line..? They were looking for financing just like you!
The good news. You may have even seen the commercials ' Leasing is back!’. Those commercial refer to auto leasing, we're talking today about fixed asset financing for your Canadian company - and that includes everything from machinery to technology to heavy equipment, software, office equipment, you name it .. Our last transaction was for school buses..!
So, if leasing companies are back, let's just ensure you have a solid understanding of the benefits of lease business financing and, more importantly, who you should be working with.
Asset Financial services via leasing is simple - its a ' loan ' in which your leasing company purchases the equipment for you ( or from you.. via n equipment lease back ) and then of course leases it back to you at a monthly rate for a specific period .
Is it appropriate for your firm? Thousands of companies utilize this form of business financing everyday, in fact stats show over 80%! Another great thing about the best leasing companies in Canada is simply their ability to finance any asset for firms of any size, including start up.
The best Canadian leasing companies tend to differentiate themselves by the customer market they tend to specialize in - In Canada the industry is dominated by captive finance companies ( firms which lease only their parent company products and services ) as well as segments devoted to small ticket, mid ticket and large ticket asset financing.
We have always felt that the best firms provide quick turnaround on approval that seems to be a key focus for many clients looking for quick approvals for their asset finance needs. So ensure you understand the approval process, which typically is just an application, and, if the size of the transaction requires, your firm’s financial statements which are revived for only purpose - ensuring you have the ability to pay back the lease!
Your best leasing companies in Canada will ensure you understand the cost of financing. That cost is a mystery to many business owners and a frustration to even more. Buts it's really quite simple, it’s the interest rate inherent in the lease, as well as any purchase options or obligations at the end of the lease, and finally, any misc costs or admin costs identified in your transaction.
So how do you find the best leasing companies in financial services in Canada? We recommend that you seek the help of at trusted, credible and experience Canadian business financing advisor in business financial services. That will allow you to get a competitive quote, as well as achieving the best structure to your deal . He or she has solid intimate knowledge of the equipment lease industry in Canada and therefore has the ability to generate savings based on overall rate, term and structure of your transaction.
Stan Prokop - founder of 7 Park Avenue Financial -
http://www.7parkavenuefinancial.com
Originating business financing for Canadian companies , specializing in working capital, cash flow, asset based financing . In business 7 years - has completed in excess of 50 Million $$ of financing for Canadian corporations .Info re: Canadian business financing & contact details :
http://www.7parkavenuefinancial.com/leasing_companies_business_financial_services.html
