Equipment Leasing FAQs
Get answers to all of our frequently asked questions on all things relating equipment leasing and TCS Equipment Finance.
If you have a question about our services please let us know. You can email us at ContactUs@TCSEquipmentFinance or call us at (385) 645-8800 we are happy to help.
What types of equipment do you provide leases for?
We lease all types of equipment. If you can depreciate it, we can lease it. We even do leases for software and other intangible assets for the right credit profile.
Please click here for information on the industries we serve and typical types of equipment we provide leases to.
What is your minimum lease amount?
Our leases generally start at $100,000.
What is your maximum lease amount?
Depending upon the underlying credit, we can fund transactions up to $15MM.
Can I upgrade or add equipment during the lease term?
Yes. Our leases are flexible and allow for upgrades. Typically, this is done as a co-terminus add-on schedule.
What are my options at the end of the lease terms?
This depends on the lease structure selected upfront. We have a number of structures available. Please see the lease structures section of the website for more information.
How long does it typically take TCS Equipment Finance to provide funds for the lease?
Once the lease documents are returned, funding typically takes between 1-3 business days.
Do you conduct credit checks?
Business and personal (if applicable) credit checks are completed on all of our transactions.
What are your credit requirements?
Generally, customers that have a minimum of three full years of financial statements plus the latest year to-date interim statements. We prefer audited or reviewed financial statements. Our credit review will primarily focus on the cash flows of the business to support the repayment of our lease. We take care to find non-cash add-backs to cash flow that other banks or lenders may miss. Additionally, we are open to structuring a transaction with additional collateral until the business is cash-flowing satisfactorily once again.
What do you need to get started with getting me an equipment lease?
It’s simple – use our Quick Quote form and apply now. A Relationship Manager will contact you to guide you through the quick and easy process.
When will the vendor be paid?
Vendors are typically paid within 1-3 business days from your authorization.
Is my lease payment a tax write-off? And are there other tax benefits to leasing equipment?
Talk with your tax advisor about your specific situation, but oftentimes the full lease payment can be deducted as a rent expense.
Are lease rates variable or fixed?
Our lease rates are fixed for the duration of the lease from the acceptance date of the equipment.
Will you provide my company with a lease if we have other types of loans?
Yes! Most of our clients have many sources for funding their business. There is power in having multiple funding partners. Having multiple funding partners prevents one banking relationship from dictating how you run your business and ensures you get financing at the most competitive terms.
Are your rates competitive with other types of funding sources?
We continually strive to provide competitive funding options for our clients.
What can I include under the lease?
Leased property generally includes the cost of the property plus installation or other project related costs such as freight, taxes (if charged upfront in your State) and customization/build-out costs.
Are there location limitations to your services?
The equipment can be located anywhere in the United States and in Canada on a case-by-case basis.
We are proud to have clients with equipment in Utah, Colorado, California, Washington State, Illinois, Wyoming, Connecticut, Virginia, South Carolina, North Carolina and beyond.