Most leases for small and mid-size businesses require only an advance payment or two, compared to a sizable down payment required by most bank loans. We will work with you to structure a transaction that is most beneficial to your cash flow needs.
Do I need to submit any documentation along with my lease application?
In most cases, you don’t need to submit any additional information for transactions under $75,000.00. Transactions of $75,000 or more require your most recent two years financial statements (preferably audited) and an interim financial statement.
Do I need to provide insurance on my leased equipment?
Yes, you need to provide us with proof of insurance (naming us as "loss payee"). You can easily arrange the necessary coverage through your current insurance provider.
How many months should equipment be leased?
It really depends upon your particular situation and the type of equipment. Our leasing professionals will work with you to structure the best transaction for you taking into consideration factors such as useful life of equipment and cash flow requirements.
Can I move my leased equipment?
Yes, you can move most leased equipment anywhere in the United States. You do need to notify us at least 30 days prior to the move and provide proof of insurance coverage at the new location.
Can I add to my existing lease when I need more equipment?
Yes, you can add onto your existing lease at any time during your lease term, quickly and easily. We’ll simple recalculate your lease payments to include the new equipment (your lease term will remain the same, only your payment amount will change).
Does leasing affect my warranties?
Usually not. The same warranty usually applies whether you buy or lease your equipment.
What happens to the equipment at the end of the lease term?
It’s your choice. Our leases can be structured to give you the option of purchasing the equipment at the end of the lease term for $1.00, for an agreed upon percentage of the original cost, at fair market value, or returning the equipment to mbaleasing.com.
