With an equipment lease, the lender (funding source) is the owner of the equipment, and the borrower (end-user) has the right to use the equipment for a specified length of time (lease term) and a specified monthly payment. The title to the equipment remains with the funding source until the end of the lease term, at which time the end-user can either purchase, return, or continue to lease the equipment. Most lease options offered by Scarlan Capital Group are either $1.00 purchase option leases or fair market value (FMV) options not to exceed 10% of the original equipment cost. With these options, the title is transferred to the end-user at the end of the lease term. Equipment leases are available to any type of business essential equipment including all types of capital equipment, heavy machinery, FF&E, hardware, software, and soft costs such as installation and consultation.
With an equipment loan, the borrower (end-user) retains title to the equipment and the lender (funding source) has a security interest in the equipment as collateral for the loan. While most equipment loans require an initial down payment between 10-20% of the equipment’s invoice cost, we offer equipment loan programs that will finance 100% of the invoice price with no down payment requirements.
- Utilize our products to purchase new equipment, used equipment, or refinance existing equipment debt
- Finance up to 100% of the equipment cost
- Approval and funding within 48 hours for requests less than $250,000
- Ability to fund equipment purchases for most industries and start-up businesses