Equipment Leasing – FAQ

What is equipment financing?

Equipment financing is a loan provided by Liberty Capital Group to help businesses purchase the equipment they need to operate. You can borrow up to 100% of the equipment’s value and repay the loan over a specified term with interest.

What is equipment leasing?

Equipment leasing is a rental agreement where Liberty Capital Group purchases the equipment and leases it to your business for a fixed period. At the end of the lease term, you may have options to purchase the equipment, return it, or renew the lease.

What types of equipment can I finance or lease?

We finance and lease a wide range of equipment, including but not limited to:

• Heavy machinery
• Medical equipment
• Office technology
• Manufacturing tools
• Vehicles and fleets
• Construction equipment

What are the benefits of equipment financing?

Benefits include:

• Ownership of the equipment at the end of the loan term.
• Potential tax advantages, such as depreciation.
• Fixed interest rates and predictable monthly payments.
• Preservation of working capital and cash flow.

What are the qualification requirements for equipment financing?

Qualifications may vary, but generally include:

• A good credit score.
• Minimum time in business (typically 1-2 years).
• Financial statements and/or business tax returns.
• A detailed business plan for startups.

How do I apply for equipment financing?

You can apply online through our secure application form, or contact one of our financing specialists for personalized assistance. We’ll guide you through the required documentation and approval process.

What are the benefits of equipment leasing?

Benefits include:

• Lower upfront costs compared to purchasing.
• Flexibility to upgrade equipment at the end of the lease term.
• Possible tax deductions as lease payments can be expensed.
• Preservation of business credit lines for other uses.

What are the different types of leases available?

We offer several leasing options, including:

• Fair Market Value (FMV) Lease: At the end of the term, you can purchase the equipment at its fair market value, continue leasing, or return it.
• $1 Buyout Lease: At the end of the lease term, you can buy the equipment for $1, making it essentially a financed purchase.
• 10% Purchase Option Lease: You have the option to purchase the equipment at 10% of its original cost at the end of the lease term.

How do I apply for equipment leasing?

The application process is straightforward. Fill out our online lease application or contact our leasing team. We’ll review your information and guide you through the leasing options that best suit your business needs.

Can I finance or lease used equipment?

Yes, Liberty Capital Group offers financing and leasing options for both new and used equipment. The terms and rates may vary based on the age and condition of the equipment.

How quickly can I get approved and funded?

Approval times can vary, but many applicants receive a decision within 24-48 hours. Funding can occur shortly after approval, typically within a few days, depending on the complexity of the transaction.

What happens if I can’t make a payment?

If you encounter difficulties in making payments, it’s important to contact us immediately. We may be able to offer solutions such as restructuring the payment plan or other accommodations.

Are there any fees associated with equipment financing or leasing?

Fees can include application fees, origination fees, and documentation fees. These will be clearly outlined in your financing or leasing agreement.

See Terminology for more details on certain fees. Admin Fee, titling fess, sales tax, down payment, advance payment, balloon payment and many other factor that goes on each transaction that you much review your contract in details prior to consummating any funding with us or with anyone.