A Shortcut to Leasing Equipment and Business Finance Lease Solutions & Services in Canada
Strategies and Shortcuts for Equipment Lease Financing in Canada
We're going to cover off some great shortcuts for leasing equipment in Canada, and how the ability to get a business finance lease with the best rates, terms and structures becomes a financing services victory for your company.
Also, when you can add a host of other programs services and structuring that are uniquely suited to your business... well... clearly that's a win.
Doesn't it make sense to know what you are looking for prior to going out to get it - that's our first shortcut tip - determine whether you need an off the shelf lease financing services solution, or whether a customized business leasing equpment solution is required . A simple way to achieve this shortcut is to focus on the 5 elements of a lease, and which ones need special attention for a finance lease based on your company circumstances.
What are those key elements - simply the term of the lease, the interest rate associated with your credit quality, the size of your transaction, the monthly payment your cash flow budget can afford, and finally the end of term option that again, best suits your firms needs.
That's a mouthful, but most Canadian business owners and financial managers don't realize they have the ability to influence, and in some cases negotiate some of the key five elements - thereby creating your shortcut to leasing equipment finance success.
Let's delve into that further. Let's assume you know the asset or equpment that you want - you've evaluated your requirements and want a financing services program that best suits your company.
Now its time to take work on getting the flexibility you need to maximize those financial advantages. They include of course full financing of your asset with minimal or no down payment, flexible monthly payments geared to your cash flow and working capital concerns, the ability to use off balance sheet financing if you need it , or even in many cases generate a positive cash flow by leasing back equipment you own already .
In many cases you can achieve a quick shortcut to lease financing approval by working with your lessor on a term that works for both of you - it has to be a win win situation. On your side you want to match payments to economic benefits of the asset you are financing... the lessor is more concerned with asset value deterioration and your overall all credit worthiness.
If you are generally familiar with the finance lease business and leasing equipment industry in Canada you know it consists of a multitude of players , they all have different ownership , some foreign, they have different asset needs, and their pricing they provide you with is based on , guess what, their own borrowing practices !
The shortcut to best pricing and best structure is therefore knowing what leasing finance firm has the best appetite and expertise to provide you with a business finance approval that works .
In summary, if you want to achieve shortcuts in business financing services related to leasing equipment you would do well to speak to a trusted, credible and experienced Canadian business financing advisor who knows the business and will accelerate the shortcut to best asset financing you can hope to achieve .
Published by Stan Prokop
Stan Prokop is the founder of 7 Park Avenue Financial. See www.7parkavenuefinancial.com The company originates Canadian business financing for companies and is a specialist in working capital and asset b... View profile
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