Investment Leasing Company's Working Capital / Merchant Cash Advance Loan Program (WCLP) provides working capital to companies when a standard lease is not just the perfect fit since cash is needed for any business purpose. Our Equipment Finance Agreement Program (EFA) provides capital to companies when an equipment lease is not quite right for the acquisition of new or used equipment, software, or commercial vehicles and is very similar to a lease. The following table will help you compare our loan programs with our lease programs:
FEATURE
|
WCLP |
EFA |
LEASE |
ABLE TO FINANCE EQUIPMENT, SOFTWARE, VEHICLES |
YES |
YES |
YES |
ABLE TO FINANCE DELIVERY & INSTALLATION FEES |
YES |
YES |
YES |
| BEST IF YOU NEVER LEASED AND PREFER LOANS |
N/A |
YES |
NO |
REIMBURSE PAID INVOICES |
YES |
YES |
SOMETIMES |
SALE LEASEBACK |
YES |
YES |
SOMETIMES |
CUSTOM SOFTWARE |
YES |
YES |
YES |
UP FRONT PAYMENTS |
NO |
YES |
YES |
INSTALLATION OF EQUIPMENT MUS BE COMPLETED PRIOR TO FUNDING |
YES |
NO |
NO |
ORIGINAL VENDOR INVOICE PRIOR TO FUNDING |
NO |
YES |
YES |
LEASEHOLD IMPROVEMENTS INCLUDED |
YES |
YES |
SOMETIMES |
PROGRESS PAYMENTS DURING INSTALLATION & MANUFACTURING PROCESS |
YES |
YES |
YES |
END USER OWNS TITLE TO EQUIPMENT FROM THE START |
N/A |
YES |
NO |
PURCHASE OPTION AT END OF LEASE |
N/A |
ZERO |
$1 OR *FMV |
SALES TAX CONTAINED IN THE MONTHLY PAYMENT |
N/A |
MAYBE |
YES |
NORMALLY SHOWN AS DEBT ON BALANCE SHEET |
NO |
YES |
NO |
SALES TAX A CONSIDERATION |
NO |
YES |
YES |
DEBT REFLECTED ON CBR |
YES |
NO |
NO |
PERSONAL PROPERTY TAX CONTROLLED BY END USER |
N/A |
YES |
NO |
LIFE INSURANCE REQUIRED |
$75K+ |
NO |
NO |
PROPERTY INSURANCE VERIFICATION REQUIRED |
YES |
YES |
YES |
ADMINISTRATIVE FEES REQUIRED |
YES |
YES |
YES |
EARLYESY PAYOFF ALLOWED |
YES |
MAYBE |
MAYBE |
EQUIPMENT MAY BE PURCHASED FROM ANOTHER END-USER, AUCTION HOUSE, INTERNET |
YES |
MAYBE |
MAYBE |
