What is Leasing?
Leasing is a form of financing that can be used for business purposes, to acquire new equipment or machinery.
The leasing contract is in fact a tripartite agreement between a lessee (the tenant), a lessor (the one who offers the financing) and a third party (the one who sells the good to the lessor).
Leasing: a tool for your business growth
It’s an attractive solution for financing equipment, providing cash flow and tax advantages that allow companies to perform operations that would not otherwise be possible to finance, at least as easily.
Equipment leasing: what can you finance?
There are many types of equipment that can be financed with leasing. It all depends on your needs and certain aspects such as the term options.
Finco Financial Group is an equipment leasing company specializing in construction, agriculture, forestry, industry, transportation and logistics, as well as office equipment.
We offer solutions for different types of businesses, companies and startups.
Our expertise includes financing of equipment such as: all types of trucks, trailers, cranes, excavators, tractors and much more.
BENEFITS OF EQUIPMENT FINANCING AND LEASING
KEEP YOUR BANK BORROWING CAPACITY
When you apply for a lease it doesn’t affect the bank borrowing capacity of our business. That means that the amount of your equipment leasing won’t be added to your bank borrowing credit capacity, helping you get the equipment you need more easily.
SPEED OF APPROVAL
We are confident to say that we can get you an approval in 48 business hours or less, often within the same day. We work on every case in the most efficient and fastest manner to provide the best financing solutions.
PAYMENT ARE 100% TAX DEDUCTIBLE
Financing equipment through leasing is a great option as lease payments are 100% tax deductible, providing a huge fiscal advantage while helping your business’s cash flow.
SALES TAX SPREAD ON THE LEASE TERM
At the time you transfer the ownership of your equipment, our lenders pay the tax for you. That means you can keep that money in your cash flow and pay the tax along the term.
What are the terms offered by a lessor?
The terms of a leasing agreement vary from one case to another. The main factors that determine the conditions are the type of equipment being financed, your credit rating and the length of the financing period.
A benefit of working with us is that we work with over 25 financial institutions in Canada and can offer you the best terms and conditions. Contact us to find out more about the options available for your specific case.
Is leasing a good fit for my business?
Many companies benefit from leasing to get the equipment they need to grow their business. The best way to determine if equipment leasing is a good choice for your business is by evaluating the opportunities and benefits that new equipment can provide (e.g., completing more contracts) and comparing the financial impact between purchasing and leasing/financing. In most cases, companies choose leasing (with or without a purchase option) because it minimizes the impact on their cash flow.
Why choose Finco for your equipment financing?
Over the years, we have specialized in several types of commercial equipment. This allows us to understand the needs and possibilities of each client we work with. In addition, being an independent broker, we have access to over 25 lenders across the country, allowing us to find the best financing terms for your specific needs. Don’t hesitate to contact us or apply directly online to find the right leasing contract for your equipment financing.
NEED TO FINANCE EQUIPMENT FOR YOUR BUSINESS?
Whether you are looking to finance or refinance new or used equipment to support your business, we are the commercial finance experts you need.
WORKING WITH FINCO MEANS:
- Financing options tailored to your needs
- 25 financial partners to get the best terms
- A quick and easy process to help your business
- A financing partner who understands your reality
Blog posts related to equipment leasing
Our equipment financing blog offers more specific answers about leasing for different types of equipment, for the professional sectors in which we specialize. Below are some articles that may be of interest to you.
Are equipment lease payments tax deductible?
Equipment leasing can offer businesses a number of important tax benefits in Canada. Find out about all it in this article.
Tractor financing: here’s what you need to know
In this article, we look at the best way to finance a tractor, either through a loan or a lease.
Leasing construction equipment: the complete guide
Learn about the key benefits of equipment leasing for construction companies.
Industrial equipment leasing
The industrial sector requires specificities when evaluating different financing solutions. In this article, we present the benefits of leasing.
FAQ ABOUT FINANCING AND LEASING
How to account for a lease?
How to calculate the lease?
What is the difference between leasing and credit leasing?
Leasing is a mechanism for companies and professionals that allows them to finance movable or immovable goods in a way similar to renting, which may include an option to buy at the end of the contractual period.
Leasing is a method of financing movable and immovable property which, in addition to companies, can also be used by individuals.
3 easy steps for your equipment financing needs
THE FINCO EXPERIENCE PROCESS
1. FIND THE EQUIPMENT
Find the equipment – It can be a private sale from an individual or an equipment listed by a dealer.
2. FILL OUR APPLICATION FORM
Fill our application form – Contact us and we’ll send you our application form in order for you to fill it.
3. GET APPROVED
Get approved – Get a response within 24 to 48 hours.