NanoImages has teamed up with Crest Capital to provide our customers with various simple leasing options to support the acquisition of new equipment.
About Crest Capital
Established in 1989, Crest Capital has always been about consistency. It has provided the funds that help businesses grow in hassle-free financing options for small and medium-sized ventures.
At present, Crest Capital offers vehicle, software, and equipment leasing and financing, with loan amounts that range between $5000 up to $1 million. With guaranteed low rates and flexible terms, you can simply choose the equipment you need from the seller of your choice.
Crest Capital Equipment Financing Details
Loan amount: $5000 – $1 million
Loan terms: 2-7 years
Interest rate: as low as 5%
Equipment leasing is a financing option that allows business owners to rent equipment from a vendor or leasing company for a set period. Included in the list of equipment up for lease are machinery, vehicles, computers, our tabletop SEMs, and more.
At the end of the lease, the business owner has the following options:
- Return the equipment
- Renew the lease
- Purchase the equipment
Overall, equipment leasing generally becomes more expensive in the long run than purchasing or traditional financing, but it can result in reduced monthly payments for businesses.
How it Works
In a traditional business loan setup, a lending institution provides capital to a business that will then repay that amount, with interest, over time.
Pros and Cons
Just like other financing options, equipment leasing has its advantages and drawbacks. Each one will help businesses determine if leasing is the right solution for their current needs.
Some of the pros of equipment leasing include:
- Trying or testing out equipment for short periods is made possible
If a business determines at the onset that it doesn’t need specific equipment for the long haul, it makes sense just to lease it instead of purchasing or securing a loan for it.
- Businesses can change out equipment regularly
Since it’s impractical for most businesses to purchase new equipment every year or two, short-term leasing allows them to outfit their company with the latest hardware or machinery.
- Lower monthly payments
Equipment leasing requires lower monthly expenses from businesses than if they’re going to purchase the equipment with a line of credit or loan. Therefore, leasing is the best option for business owners who don’t have the capital to purchase new equipment outright.
Similarly, with equipment financing, businesses get capital to acquire a piece of equipment. They’ll then repay the loan over time with interest. Once payments are complete, the business becomes the owner of the equipment it bought.
However, the process of equipment leasing works differently. A lender, vendor, or financing company lets a business rent the equipment it needs for a certain period instead of purchasing it or seeking financing for it.
The business then makes monthly payments for an agreed-upon number of months. Once the lease period ends, they’ll have to return the equipment, renew the lease, or buy the equipment should they choose to.
Meanwhile, the disadvantages of equipment leasing include:
- The business won’t have any equipment at the end of the lease
If the business still requires the piece of equipment after the end of their lease, they have a decision to make at that point. To buy the equipment, renew the lease, or opt for another arrangement instead of just owning the equipment the way they would at the conclusion of their loan payments.
- The business can’t consider the piece of equipment as an asset
Depending on the type of equipment lease you have, businesses lose the ability to consider the piece of equipment an asset, which can make a difference when they’re applying for a business loan or assessing the value of the business.
Why Equipment Leasing Through Crest Capital is a Feasible Solution
When a business chooses to finance or lease equipment, the cost of the equipment is spread out over a multiple-year term, keeping more working capital available to fund investments such as additional payroll or facility expansion. Rather than waiting till funds become available, the business has the (profit-generating) equipment when it is needed. Even the equipment vendor benefits as well, with a quicker sales cycle and 100% cash upfront.
Crest Capital makes the financing process very simple. Read more about these lease options and get a fast, no-obligation no-hassle estimate of your monthly payments from our lease options page.