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Capital Resources, LLC  Equipment Leasing | Equipment Finance

FAQ -- Frequently Asked Questions About Vendor  Leasing

Frequently Asked Questions
About Our Vendor Leasing Programs

 
  1. Why is Capital Resources better than the competition?

  2. How can I lease equipment from Capital Resources?

  3. What equipment does Capital Resources finance?

  4. Does Capital Resources work with equipment vendors?

  5. Why should an equipment vendor develop a relationship with Capital Resources?

  6. What kind of service does Capital Resources provide?

  7. How do I use leasing to close more sales?

  8. My customers arrange their own financing.  Why should I offer leasing?

  9. My customers all pay cash.   Why should I offer a lease program?

  10. My customers think leasing is too expensive.  How do I handle this objection?

  11. Does it cost me anything to offer a leasing program to my customers?

  12. What kind of equipment can be leased?

  13. How long does it take to get paid?

  14. Is my company liable if a Lessee stops paying?

  15. How long will it take to get an approval?

  16. What if my customers decide they want to finance additional equipment or upgrade the equipment?

  17. What kinds of lease terms are available?

  18. Why should my customers lease?

  19. What about sales/use tax?

  20. Who can finance or lease?

  21. Are my customers qualified to lease equipment?

  22. How do my customers apply for a lease?

  23. How is the monthly payment calculated?

  24. What factors are used to determine credit worthiness?

  25. How much do my customers have to pay up front?

 

 


  • Why is Capital Resources better than the competition?
    Leasing is more than just a numbers game; leasing is service that you can count on every day.  We have a salesperson dedicated to each vendor.  Our sales people not only have an expertise in equipment leasing, they have an understanding of your industry.  More importantly, they develop an understanding of your company and your specific objectives.  Our vendor programs are designed specifically to meet the customer’s needs; and every customer’s needs are unique. Once a program is designed, we provide initial training for you and your sales force as well as follow up training and support throughout the entire program.  You and your customers will deal with Capital Resources throughout the entire relationship.  We value your business too much to hand it over to someone else.  Return

  • How can I lease equipment from Capital Resources?
    For transactions under $75,000 the lessee has the option of completing and electronically submitting a secure on line lease application for immediate processing.  For transactions over $75,000, we require an application and the last two years of  financial statements or the last two years of complete income tax returns.  All applications are immediately processed for free.  Once approved (usually within hours for application only programs), we will generate a one page lease approval form and send it to the lessee and/or vendor.  To complete the transaction, the lessee authorizes a simple lease agreement written in plain English with terms that everyone can understand. When we receive and approve the executed lease contract and vendor invoice, Capital Resources pays the vendor immediately--not days or even weeks later.  It’s that simple!!  Return

  • What equipment does Capital Resources finance?
    Capital Resources
    leases all types of equipment
    including titled commercial vehicles.  However, a high concentration of our current vendors manufacture or sell computer (hardware or software), point of sale, telecommunication, office, medical, tooling, printing, mailing, laundry, restaurant, material handling, patient care, and similar types of production equipment.  Return 

  • What are Capital Resources' credit requirements?
    Generally, Capital Resources prefers to lease equipment to lessees that have been in business at least 24 months.  Some unacceptable credit information for small and mid size companies includes a bankruptcy within the past ten years, open federal and/or state tax liens, real estate tax liens or open civil suits in excess of $1,000.  Return

  • Does Capital Resources work with equipment vendors?
    Absolutely!  Teaching equipment manufacturers, distributors, and resellers to use leasing to help sell their products is one of the most efficient means for Capital Resources to distribute its financial products.  Depending on the equipment cost, up to 88% of the lessees choose the leasing company that is recommended by the equipment vendor. Return

  • Why should an equipment vendor develop a relationship with Capital Resources?
    Every sale proposal should be presented with a lease-financing alternative.  93% of the customers that "want to lease" and receive a sale only proposal, assume that the vendor does not have the ability to lease their equipment. To avoid the hassle of searching for additional funding, the customer will simply do business with the equipment vendor that can provide immediate financing for their products.  Capital Resources role is to provide the required funding to your customers to insure they do business with you and not your competition. Return

  • What kind of service does Capital Resources provide?
    Our customers say our service is outstanding!  
    Capital Resources has invested heavily in technology to assist our people in providing the highest quality of service.  In addition, Capital Resources is continually evaluating changes in technology to insure that our service remains outstanding.  If you are an equipment vendor looking to increase sales, or an end-user looking to conserve working capital, Capital Resources can help.  We provide the competitive price and personal service that will meet your objectives and maintain a lasting relationship--not just a one shot deal. Return

  • How do I use leasing to close more sales?
    The first thing you need to do is to eliminate offering your customers a total cost proposal and concentrate on selling your products based on a monthly payment that is within your customer's monthly budget.  Then your customers are assured of receiving all the equipment they need.  In addition, by presenting a much more affordable monthly lease payment, you can convert those customers who are reluctant to make a buying decision due to the objection of having to make a large upfront cash outlay.  Your customers will often find that leasing produces a greater monthly operating profit.  As a result, they will return to lease more equipment. Return

  • My customers arrange their own financing. Why should I offer leasing?
    By allowing your customer to arrange their own financing, you lose control of the sale.  Your competition may try to unhook your deal, your customer may get cold feet or their financing alternative may become too cumbersome to complete.  The approval process for leasing is generally faster and easier than other types of financing, thus preventing your customer from changing their mind.  If your competition becomes a factor in the transaction, your lease representative will often know and inform you immediately. Return

  • My customers all pay cash.  Why should I offer a lease program?
    While some of your customers are paying cash, many other potential customers are leasing their equipment.  In addition, many of your customers that paid cash for their equipment, may have been able to afford better or more equipment if they had been given a lease option.  If your cash customers leased their equipment instead of paying cash, they may have been able to use the cash to expand their businesses, thus requiring more of your equipment. Return

  • My customers think leasing is too expensive.  How do I handle this objection?
    Leasing is a competitive source of funds. It is easier, faster and more convenient than borrowing.  It allows a business to grow by freeing up working capital for general expenses, inventory and any unforeseen emergencies.  Eight out of ten companies use leasing to finance their equipment acquisitions. It is not expensive.  Return

  • Does it cost me anything to offer a leasing program to my customers?
    No.  In fact, leasing will help you maintain profit margins.  You will increase sales by offering your clients additional options, and making it more affordable for them to acquire your equipment.  It costs you nothing to mention leasing to your customer. Return

  • What kind of equipment can be leased?
    Virtually any equipment utilized by a business can be leased, new or used, including soft costs such as freight, installation and training. Return

  • How long does it take to get paid?
    Once the equipment is delivered and accepted, it takes 24 hours or less  for you to receive the check for your invoice.
    Return

  • Is my company liable if a Lessee stops paying?
    No.  Unless you have executed a special program agreement  that includes a recourse or remarketing provision.  The credit worthiness of a lessee is not your risk. Return

  • How long will it take to get an approval?
    Processing of your customers credit application will begin immediately upon submittal.  The credit application may be completed on-line or you may have your customer download and fax it to us.  Once we have received all the necessary information, the credit decision will be provided to you and your customer within 24 hours. Return

  • What if my customers decide they want to finance additional equipment or upgrade the equipment?
    As your customer's business grows and their needs change, you can add or upgrade them at any point during the lease term.  If the nature of your customers industry demands that they have the latest technology, leasing can help prevent their equipment from becoming obsolete. Return

  • What kinds of lease terms are available?
    A variety of leasing products are available that allow us to tailor a lease to fit your customer's month-to-month cash flow requirements.  Lease terms usually range from 12 to 84 months with various end of term options. Return

  • Why should my customer lease?
    Leasing provides a great deal of flexibility in how your customers manage their equipment acquisitions.  Whether your customers are a small or large company, leasing allows them to structure their equipment acquisition to best suit their time frame and payment structure. Return

  • What about sales/use tax?
    Your customer is responsible for any and all sales/use taxes. Return

  • Who can finance or lease?
    Any company, organization or association can lease.  At present, we do not lease equipment to individuals for personal use. Return

  • Are my customers qualified to lease equipment?
    The general guidelines for business leasing are:
            24 months in business
            Commercial checking account or proof of business
            $20,000 minimum order Return

  • How do my customers apply for a lease?
    Complete a quick, easy and secure on-line application.
    Complete a fax application on-line. Print it and fax it to us.

 

 

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