When starting a small business there are a lot of expenses involved; you need cash flow for leasing space, paying employees, taxes, fees, insurance, advertising, and more. This can be overwhelming considering the business is not yet off the ground and revenue has not yet been generated. One way to help reduce initial expenditures is to lease your equipment instead of buying it outright. This way, the use of your equipment in your daily business will help generate revenue while the price of the equipment is divided into more manageable payments spread out over time. But equipment leasing does more than assist with your initial finances, it continues to benefit your equipment as your business grows.
How Equipment Leasing Keeps Businesses Relevant
What Is Equipment Leasing?
When you need equipment as an integral part of your small business, it can often mean a lot of capital expenditure even when you don’t have the financial resources established yet. Equipment leasing allows you to take the one lump sum cost you would use to buy the equipment outright and break it into manageable payments over a longer period. This way, you can use your leased equipment to generate revenue instead of buying it and decrease your capital expenditure.
Equipment Maintenance
When you buy equipment, it costs more than just the initial purchase price; it also costs maintenance fees throughout the lifespan of the machine. When you lease equipment, you will have to take care of this maintenance to ensure your equipment is in proper working order. However, equipment tends to require more maintenance as it ages and with equipment leasing you can start your business with brand new, high-quality equipment. Some leasing companies will also include maintenance servicing packages in the leasing contract as a part of your regular payments, ensuring that your equipment always stays as effective as possible without you needing to pay lump sums for maintenance.
Upgrade Equipment
When you lease your equipment, you will be in a contract for a predetermined amount of time. Once that contract is complete, you can sign a new contract with new, upgraded equipment. Not only does this benefit your company by ensuring you have the most up-to-date technology available for your customers, but it also means that you will have fewer maintenance fees with your new equipment. You also have the option to improve your equipment with any add-ons that may have come out since your initial contract. The add-on prices will be added to your monthly fee and evenly divided with the rest of your equipment payments so that you can once again reap the benefits of new, high-end technology without the upfront costs.
Equipment Leasing With First Capital Leasing
If you are a small business owner and need expensive equipment for your business to operate, equipment leasing can help. Don’t settle for second-rate equipment and don’t let your customers settle either; getting top-quality equipment will give your company the edge it needs to make it through difficult times. No matter the type of equipment you need leased, First Capital Leasing can offer you flexible equipment financing. With over 85 years of combined experience in the commercial leasing industry, First Capital Leasing can help your small business thrive. To partner with a leasing company dedicated to helping you grow your business and succeed in your industry, contact First Capital Leasing at 1-888-251-3644 or fill out the online contact form.
FAQ
Q: Is there a minimum and maximum lease amount?
A: The minimum is $5,000.00 and there is no maximum amount. The application process is simple with our online form. And most approvals can be obtained in four hours or less.
Q: If my company is not based in Calgary or Alberta can I still use First Capital for equipment leasing?
A: Yes, while First Capital is based out of Calgary, our commercial leasing services are not limited to Calgary or Alberta.
Q: What Type of Equipment Can Be Financed?
A: First Capital Leasing offers the flexibility to finance any type of equipment that you require for your business. Some of the types of equipment we can lease include, but are not limited to:
- Transportation
- Fabrication and Machines
- Construction
- Materials Handling
- Agriculture
- Fitness
- Automotive
- Technology and Telecommunications
- Surveying Equipment
- Office Furniture
- Hospitality
- Medical/Dentistry
- Healthcare
- Software
- Beauty and Aesthetic
- Forestry