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The Benefits of Leasing Equipment through a Leasing Firm Instead of a Bank

Established in 1988, Balboa Capital Corp. strives to build strategic partnerships with members of several different industries and provide them with suitable equipment financing options. The company understands that business owners must survey all possible choices when making a decision about leases and other financial matters. This is why the equipment leasing company keeps all payments on a lease the same, no matter how the current market and inflation rates change. If a business leases equipment through a bank, it is susceptible to inconsistent terms and rates over the length of the lease.

 

Leasing Equipment
Leasing Equipment Public Domain, Posted by cdn.wn.com

Furthermore, Balboa Capital reviews only the equipment financed as a debt source when evaluating a client for a possible lease. When banks lease equipment, they may research the client’s personal home loan, medical, auto, or credit card debt. These issues can sometimes contribute to a loan being denied, while equipment leasing companies utilize a simpler method that makes the whole leasing process easier and more efficient. Leasing through an equipment leasing company also allows clients to maintain a sufficient amount of capital with their banks.

 

Clients should consider the speed involved in obtaining a loan to finance equipment. Balboa Capital usually obtains a credit decision for financing within 24 hours on app-only transactions. Banks, on the other hand, can sometimes get caught up in the process of surveying a client’s credit history and detailed financials. Lastly, another benefit of using an equipment leasing company is the reporting of the lease as a monthly expense instead of a debt, while a bank loan is reported as a debt on a credit report. Visit the Balboa Capital website at www.balboacapital.com for more information about equipment leasing.