Equipment leasing and financing is up 16 percent over one year ago the Equipment Leasing and Finance Association reported. U.S. companies added $8.2 billion in loans, leases and lines of credit in order to finance equipment leasing in September. Most borrowers are using financing to “replace aging equipment” rather than for business expansion.
In related news, The Equipment Leasing & Finance Foundation forecasts that the equipment finance market will exceed $740 billion in 2013. According to the foundation and its recent research, “72% of companies use some form of financing, including loans, leases and lines of credit. 30% of companies anticipate increasing their equipment investment in the next 12 months, although smaller companies are more uncertain.”
In the event your company is considering leasing for your next equipment acquisitions, we have prepared the following articles to explain how leasing can help your business:
Differences between FMV, $1 Purchase Option, and 10% Purchase Option Leases
Looking for New Laptops for your Business? Seven Tips
How to Ensure a Complete and Accurate Business Credit Report
What Every SMB Needs to Know About Personal Guarantees for Equipment Lease Financing