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Q. What equipment can I lease?
A. Just about any commercial equipment for use in business, government or non-profit institutions.
Q. What dollar amount can I finance and for what term?
A. Our minimum lease size is $3,000. Application only programs up to $75,000. Larger transactions are also acceptable, up to $5,000,000. Terms range from 12 to 72 months.
Q. Are there any application fees or closing costs?
A. There are absolutely no fees or costs to apply for a lease. Other than an advance payment or security deposit at lease signing, only a nominal documentation/processing fee is required to commence the lease. For the average size transaction, this fee is $150.
Q. Does the equipment have to be new?
A. No. We provide lease financing for used and/or new equipment--in fact, we can even buy back equipment recently purchased and lease it back to you! Talk to a sales representative to find out how to tap into the equity in your current line of equipment.
Q. How long does it take to be approved?
A. Complete approvals take 24-48 hours (depending on how fast your bank and trade references respond to us.) But, depending on the size of the transaction and credit-worthiness of the customer, lease approvals and documentation can be completed same-day.
Q. How do I know I will get the best price on the equipment that I want?
A. Because you will negotiate your own best price, with the vendor or your choice. Atlas Financial only purchases the equipment that you have selected at the price you have agreed to.
Q. What about "software" and other "soft" costs like training, installation etc.
A. We can provide up to 100% financing for "software only" leases. Our standard lease includes allowances for costs like training, installation, initial maintenance and consulting fees.
Q. Who is responsible for insuring the leased equipment?
A. This is the lessee's (your) responsibility. You will be asked to provide proof of insurance coverage.
Q. Do I need "perfect credit" to get a business lease?
A. Not usually. We can deal with a wide variety of credit challenges--past slow pays, past paid liens, an occasional charge-off even an older, adjudicated bankruptcy! We will look closely at your payment since the credit issues were first reported for evidence that you have gotten your finances back in order. (Our goal is to find reasons to make transactions work.)
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