Business Equipment Leasing Solutions with Platform Funding

Answer: There are several types of leasing, each designed to cater to the different needs and preferences of the lessor and the lessee. Some common types of leasing include:

1. Operating Lease: An operating lease, also known as a service lease or a rental agreement, is a short-term lease where the term is significantly shorter than the asset’s useful life. In this type of lease, the lessor retains the risks and rewards associated with asset ownership, including maintenance and depreciation. At the end of the lease term, the lessee typically returns the asset to the lessor.
2. Finance Lease: Also known as a capital lease, a finance lease is a long-term lease where the term covers a substantial portion of the asset’s useful life. In this arrangement, the lessee assumes most of the risks and rewards associated with asset ownership, such as depreciation and maintenance. The lessee may have the option to purchase the asset at the end of the lease term for a nominal amount.
3. Sale and Leaseback: In a sale and leaseback arrangement, a business sells an asset to a leasing company, which then leases the asset back to the business. This enables the business to free up capital in the asset while retaining the right to use it.
4. Leveraged Lease: A leveraged lease involves a lessor, a lessee, and a lender. The lessor, typically a leasing company, borrows funds from the lender to purchase the asset, which is then leased to the lessee. The lease payments are used to repay the lender, and the lessor retains any residual value in the asset at the end of the lease term.
5. Direct Lease: In a direct lease, a manufacturer or dealer of the asset leases the asset directly to the lessee without involving a third-party leasing company.
6. Master Lease: A master lease is an umbrella agreement that covers multiple assets leased by the same lessee from the same lessor. This type of leasing simplifies the leasing process by consolidating multiple individual leases under a single agreement, making it easier to manage and administer.

Each of these leasing types has its own unique features and benefits, so it’s essential to understand the differences and choose the most suitable option based on your specific needs and circumstances.

Answer: Leasing is a great way to get the necessary equipment or vehicle without worrying about the initial cash investment or monthly payments.

With vehicle lease financing, you pay for only the portion used, so you don’t have to worry about making large monthly payments. You also can save money on taxes by using a lease structure that allows you to expense the payment rather than depreciate it.

The turnaround time for equipment leasing is much shorter than for other financing forms, which means you can get what you need faster. The shorter time frame also means your capital is working for you sooner and longer—and it protects against technological obsolescence.

Because equipment leases have fixed rates, there’s no need to worry about rising interest rates throughout the contract term. Fixed monthly payments make budgeting easier and help ensure the lease pays for itself in due time.

Answer: Applying for a leasing program with Platform Funding is a hassle-free process. Our streamlined approach involves filling out a short online application form and providing your business’s 3-4 most recent months of bank statements along with an invoice for the equipment you are looking to lease.

Here’s how the process works:

Step 1 – Secure online application
To begin the funding process, simply visit our Get Funded page and securely fill out our simple and easy-to-use application form. We value your privacy, so rest assured that our online platform is entirely secure. Along with the application form, we’ll only need 3-4 recent business bank statements to start assessing your funding application.

Step 2 – Personalized leasing plan
Our dedicated specialists will work with you to understand your business’s leasing needs and design a tailored plan that aligns with your repayment preferences. We’ll take the time to analyze your situation carefully and present you with the best leasing options that caters to your unique requirements.

Step 3 – Your leasing is approved
Once your leasing is approved with one of our funding partners, you’ll get your equipment. Our team is always available to answer any questions or provide assistance, and our specialists are on standby to help you with any future funding options. Whether you call or visit our Get Funded page, we’re always ready to help you grow your business.