Does Your Business Need To lease Finance New or Used Painting Equipment?
Painting equipment leasing can be acquired for a wide range of new and used painting equipment and painting equipment accessories.
The business equipment leasing companies are are going to be most interested in these types of applications are going to want to see strong cash flow and proof of the business’s ability to make monthly leasing payments.
For smaller items, individually or as a group, where the amount of the equipment leasing amount is under $25,000, the equipment leasing approval process is focused primarily on the business credit of the applicant and the personal credit of the actual business owners if no formal business credit has been established.
As the amounts get larger, then the credit granting and approving process is more involved, looking into historical financial statements of the business and the personal net worth of guarantors.
For larger painting equipment items such as a paint booth, there is more security value available to the lender as long as a resale market exists for the assets in question.
Smaller assets on their own do not provide much security value and the lending decision falls back more onto credit, cash flow, and personal guarantees or corporate guarantees.
Get Painting Equipment Leasing That Meets Your Business Needs
For many small businesses, cash flow can be tight at times and it may be beneficial to look at an operating lease with a larger lump sum amount left at the end of the lease to purchase the asset out right.
This can help to minimize the monthly payments in the short term and provide the business with ample time to plan for purchasing the asset at the end of the lease if that is what the owners intend to do.
An equipment leasing facility can also be in the form of a capital lease which acts and behaves much the same as an equipment loan for accounting and tax purposes. The biggest difference is that the leasing company owns the asset which affords them more control in the event that the lease falls into default and they have to realize against their security.
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