The Equipment Leasing Experts
-- Our 22nd Year!
Equipment Leasing
For Equipment, Vehicles or Software Costing
$50,000
to $5 Million
True ● Off Balance
Sheet ●Capital ●Operating
●
TRAC
First
Capital's Commercial Equipment Leasing program can
be utilized for equipment costing from
$50,000 to $5 million or more!
First Capital Will provide:
 | A detailed Commercial Lease Proposal Agreement. This will detail the approval we anticipate being able to obtain for your company and requests a small good faith deposit. |
EASY Documentation for a Commercial Lease:
|
Standard One Page QuickLease™ Credit Application |
|
2 Years of financial statements*--audit or review level (only) OR business tax returns |
AND
| Interim financial statements* (internally prepared to within 90 days) |
| Commercial Lease Business & Equipment Profile--This brief form will provide our credit analysts with an overview of the applicant's business methodology, markets, the equipment and its anticipated effect of the operations of the business and its finances. |
|
For closely held companies D & B rated 4A1,
4A2, 5A1 or 5A2, no personal information on the principals
(owners of 10% or more of the business) will be required. We
require the principals of all other closely held firms to provide a)
Personal Financial Statements (signed and current to within 90 days) and
b) signed copies of their most recent 2 years of personal tax returns. |
*Note: We DO however require a signed proposal, application and business & equipment profile.
Basic Commercial Lease Credit Guidelines (Many, many factors are considered)
| Recent Profitability. Business should be reporting profits for the last 3 years. Neutral or positive trends. |
|
Positive Retained Earnings. |
|
Tangible Net Worth: 1.5 x lease request |
|
Working Capital 1.1:1 or greater. |
|
Adequate cash flow coverage for existing operations AND to service new lease obligation. Cash Flow Coverage 1.2 or greater |
|
Comparable debt and/or borrowing references. |
|
Solid bank references. |
|
Satisfactory D&B rating. Demonstrating a history of meeting trade obligations within agreed-to terms. |
|
Satisfactory explanation of all credit inquires made / new debt acquired within the last 6-12 months. |
|
No unsatisfied tax
obligations. Full explanations of pending legal matters |
Notes:
|
NO DOWN PAYMENT, NO POINTS & NO CLOSING COSTS. Only one (or two) monthly payments and a $350 documentation fee due at closing. |
| No business plans or projections required. |
|
Tailor this lease to your exact needs with First Capital's Cash Flow Friendly Options (take a look!) |
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