Business Equipment Leasing
Virtually every company relies on technology, equipment and other
types of materials to keep business moving forward. You may need
machines for your manufacturing plant, furniture and computers for your
office, industrial kitchen equipment for your restaurant or other
materials for your specific industry. Many businesses choose to lease
rather than own when it comes to these types of needs.
Financing equipment allows your business to stay competitive without impeding cash flow. As a business banking leader in the local community, West Bank is here to help with your commercial equipment leasing needs.
To understand how leasing can fit your financial goals, contact West Bank , visit your nearest Financial Center, or connect with a banker online. All credit is subject to approval.
What are the Benefits of Equipment Financing?
Whether you need computers for your design business or shelving for
a retail space, you have the option of buying new or used equipment —
or leasing. Buying allows you to have an asset you can liquidate at a
later point. Leasing your equipment comes with its own benefits:
Leasing can help you fund necessary equipment. In
many cases, purchasing all the equipment and supplies you need to start a
business or to expand your company can be overwhelming. Your budget
simply may not allow for the purchases. For startups, capital equipment
leasing spreads out the cost and monthly payments, making it easier to
afford what you need.
Leasing lets you keep technology up to date. In
most industries, companies need the latest equipment to stay
competitive. When you lease equipment, flexible terms allow you to
upgrade when needed so you’re not stuck with equipment that becomes
obsolete, and your business stays on the cutting-edge of your industry.
Leasing helps you manage cash flow. With leasing,
you don't have to invest a significant amount of money into equipment or
technology up front. With monthly costs instead, it's easier to manage
cash flow.
Leasing works to preserve working capital and credit lines. When you utilize leasing for your equipment needs, credit lines and working capital remain available for other overhead costs.
When you need to decide between buying and leasing, carefully
consider your business needs and costs. Leasing can be more flexible and
can help free up cash flow. Purchasing may offer you an asset (albeit a
depreciating asset), but it requires a larger upfront investment.
Speak with an Expert about your Commercial Equipment Financing
The business banking experts at West Bank will help you
determine the best solution for your equipment financing needs. Benefits
of leasing with West Bank include:
- Up to 100% financing of equipment
- Fast, local credit decisions
- Flexible financing with a fixed rate on terms up to 60 months
- Sales and use tax paid monthly
For medical and dental practices – customized payment schedules,
longer terms, and additional financing purposes (for example
installation, training, shipping, etc.)
West Bank offers a full range of products and services to meet
the needs of your business, delivered with the personalized service only
a local, community bank can provide. Contact us today to learn
how we can help your business move forward.