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Equipment Leases Equipment leases are a type of lease that a small business can use to buy new equipment for their business. Equipment leases are usually used to buy larger equipment. Equipment leasing is the process whereby a small business owner actually rents their equipment from the lender. The lender makes the purchase, and leases it to the small business owner. They charge a predetermined rate for an amount of time agreed upon by both parties. Once the lease is over, the business may then decide to purchase the equipment at fair market value, continue the lease agreement, or give the equipment back and lease new equipment. Equipment leasing is perfect for small businesses that are in their start up phase. They do not have much capital or revenue yet, but they need equipment to run their business, so they can use equipment leasing to meet their equipment needs. All they need is a good credit history and the ability to make the monthly payments. More Glossary Terms Explained here |
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