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| Superior Boiler Works has leasing options available through TCF Equipment Finance for those interested in leasing as an alternative to outright purchase. Their contact information is: | ||
| TCF Equipment Finance | Contacts: | |
| 11100 Wayzata Boulevard, Suite 801 |
Paul Butze | |
| Minnetonka, MN 55305 Voice: 800-442-7811 Fax: 800-986-0429 |
Assistant Vice President Email: pbutze@tcfef.com Cell: 651-295-3881 Hastings Office: 651-438-2794 |
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| Chris Haldorson | ||
| Sales Associate Email: chaldorson@tcfef.com |
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Lease payments can provide improved cash flow when compared to loan payments or cash purchases. The first lease payment is usually less than a loan down payment and any applicable sales tax is collected over the life of the lease, not paid in advance. In real dollars, lease payments actually decrease over time due to inflation. Leasing affords a variety of options to match payment terms to business cash flow, whether cash flow is project-based, seasonal, related to expansion, etc. |
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Leasing allows you to match payment plans to the equipment’s expected useful life. Leasing provides flexibility at the end of the term to allow you to either take ownership of the equipment or walk away and acquire new technology. The result is a managed solution that allows business to maintain the most current technology. |
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Lease terms are usually shorter than the depreciable life of the equipment and lease payments can be treated as equipment rental expense-- resulting in a faster write-off of equipment and tax savings. Please consult your accountant for the exact application for your business. |
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Leasing permits acquisition of equipment now and preserves bank credit lines for other opportunities. This tends to expand your available lines of credit for future growth. |
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Lease payments can be structured to match equipment use and cash flow needs. Payments can be structured as monthly, quarterly, semi-anually, or annually. |
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Leasing typically does not require a large down payment. You can finance up to 100% of the equipment cost. In many cases, service, supplies, installation, warranty and other soft costs can be included in the lease. This gives you more money to invest in other revenue-generating activities and makes it easier to afford multiple products or just save it for times when you need cash most. |
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Once approved, the terms and payments are guaranteed. Even though interest rates may rise, lease payments will remain the same. |
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Often corporate branch operations, hospitals, non-profit organizations and municipalities are able to acquire equipment through a lease arrangement without board or home office approval for a capital expenditure. Lease payments are treated as rental expense and no capital outlay is required. |