Types of Equipment Leases
Find the equipment lease program that best suits your business.
Master Lease
The Master Lease is a pre-approved credit line allowing for multiple transactions (takedowns) over a period of time.
Express Lease
The Application Only Lease does not require financial disclosure. Approvals are granted from $5,000 to $150,000 and usually within a 24-hour period.
Commercial Lease
The Commercial Lease requires a full financial credit package and typically provides for lower finance/lease rates.
Municipal Lease
The Municipal Lease is for the non-profit organization. Our Municipal Lease is a straightforward agreement for lease amounts up to $1,000,000. In most cases, there is no need for Uniform Commercial Code (UCC) filings, legal “opinion letters,” or financial statements on leases less than $100,000.
Software Only
The Software Only Lease allows for 100% software financing, including installation, training, and service.
Purchase/Sale Leasebacks
This type of finance involves Providence taking existing strong collateral equipment in which you own outright. We conduct a quick desktop appraisal for this asset and immediately lease the equipment back to you. This solution allows companies to infuse cash into their business.
No Pay for 90 Days Lease
The 90 Day Deferral program allows the lessee to skip the first three scheduled lease payments.
Buy
Must pay 100% of cost upfront
Impacts balance sheet if money is borrowed
High upfront capital costs
No payments; 100% paid upfront
Hard to upgrade equipment
Payment schedule does not match cash flow
Lease
100% financing options available
No money borrowed
Low front-end costs
Fixed payments and possible tax benefits
Easy to upgrade and add equipment
Payment schedule matches cash flow
Learn about the
Benefits of Leasing Equipment
Leasing provides customized payment plans.
Providence Capital does not take the one size fits all equipment lease program approach. We can tailor your payments to meet the cash flow, budget, and cyclical fluctuations of your business.
Leasing with us is quick and easy!
Providence Capital makes equipment leasing a quick process. You can usually receive an approval within 24 hours, allowing you to rapidly acquire your new equipment with minimal documentation or red tape.
Leasing conserves cash.
Leasing will allow you to finance 100% of the equipment. You aren’t required to hand over a large down payment freeing up capital to be used elsewhere.
Leasing protects you from obsolescence.
We have a variety of end-of-lease options that give you the opportunity to return, renew, or purchase the equipment.
Leasing can provide tax advantages.
Most lease payments can be deducted from your corporate income. (Ask your tax advisor how this can work for you!). Learn about how Section 179 can save your business money on equipment transactions.
Leasing can include additional soft costs.
You may be able to include training, maintenance, and installation costs in your lease-finance agreement.
Equipment Leasing FAQs
What is equipment leasing?
Equipment leasing is a business financing solution that lets you acquire the equipment you need without paying the full cost upfront. Instead of making a large cash purchase, you make fixed monthly payments over time.
How does equipment leasing work?
With equipment leasing, your business selects the equipment it needs, submits an application, and if approved, the equipment is financed through a structured payment plan. This helps preserve working capital while giving you access to the tools your business needs now.
Is equipment leasing better than buying?
Equipment leasing can be a better option for many businesses because it reduces upfront costs, helps conserve cash flow, and can make it easier to upgrade equipment as technology or business needs change.
Can I finance 100% of my equipment cost?
Yes. Many equipment leasing programs offer up to 100% financing, which means your business may be able to acquire equipment without a large down payment.
How fast can I get approved for equipment leasing?
Approval times can vary, but many businesses can receive a fast credit decision, often within 24 hours, depending on the lease program and documentation required.
What types of equipment can be leased?
Many types of business equipment can be leased, including heavy equipment, medical equipment, restaurant equipment, office equipment, manufacturing equipment, software, IT equipment, and more.
Can I lease used equipment?
Yes. Many equipment financing companies can finance both new and used equipment, depending on the equipment type, age, value, and condition.
Do I need strong credit to qualify for equipment leasing?
Credit requirements vary by lender and program. Some lease options are designed to be more flexible, while others may require a full financial package for the best rates and terms.
Are there tax benefits to equipment leasing?
In many cases, lease payments may be tax deductible as a business expense. Some businesses may also benefit from Section 179, depending on how the transaction is structured. You should always check with your tax advisor.
Can soft costs be included in an equipment lease?
Yes. In some cases, soft costs such as installation, training, maintenance, and related services can be included in the financing structure.
What happens at the end of an equipment lease?
Depending on the lease structure, you may have options to return the equipment, renew the lease, or purchase the equipment at the end of the term.
Is equipment leasing available for multiple industries?
Yes. Equipment leasing is commonly used across a wide range of industries, including construction, healthcare, manufacturing, food service, technology, energy, and professional services.