To assist you in better understanding our product, here are some of the most frequently asked questions in the leasing/financing business.

How long is the lease application process?

When Proficom Financial receives a completed online credit application, we can render a credit decision in as little as 4 hrs but on average it takes 4 to 8 hrs.

Once I am approved, what happens next?

Once the credit application is approved, lease documents are delivered to you for your signature. Once we've received the signed documents and you've accepted your equipment, we will make payment to the vendor.

How will leasing affect my company's cash flow?

In a word, positively. That's because leasing usually offers lower monthly payments than other financing sources. Those lower payments can help you bring revenues and expenses into closer alignment. And because payments are fixed, you can forecast future expenses more accurately and improve your budgeting process.

Is a down payment required?

Leasing is generally considered 100% financing, with as little as one advance payment required.

Can I finance the remaining balance if I have placed a down payment on the equipment?

Yes, if you choose to make a down payment you can subtract that amount from the total owed on the equipment.

How are lease payments structured?

There's considerable flexibility in payment arrangements. While most leases provide for regular monthly payments, those payments may be made in advance, in arrears, or at irregular intervals. Terms range from 12 to 66 months and can be customized to suit your company's needs.

Can lease payments be reduced?

Lower monthly or quarterly lease payments can be negotiated, usually by extending the term of the lease. Assuming that payments are fixed, an extended term can reduce the amount of the individual payment. It's important to understand that while an extended term may lower the amount of the individual payment, the aggregate amount paid over the term of the lease will be higher.

Can I purchase the equipment I've leased?

At the end of the lease term, you have three options:

• You can return the equipment.
• You can purchase the equipment.
• You can continue to lease the equipment on a month-to-month basis.

What is a "fair market value" purchase option?

If your lease contains a "fair market value" purchase option, you can purchase the equipment at the end of the lease for its fair market value - the price at which the equipment you've leased would be sold by a willing seller and purchased by a willing buyer.

What is a "$10.00 end" purchase option?

A "$10.00 end" purchase option gives you the opportunity, at the end of the lease, to purchase the equipment you've leased for $10.00 plus applicable taxes.

What is "Stretch" lease?

"A Stretch Lease" is a type of lease in which you have a early purchase option usually within 3 to 6 months prior to the termination of the lease. If this option is not exercised you will enter the stretch period which will lead you to the end of the lease at which time you will have the option to 1) return the equipment 2) pay "fair market value" or continue to lease the equipment on a month to month basis.

What kind of equipment can I lease?

We are able to fund any kind of equipment you wish to lease. See our Equipment Type Section for more details

Will I get a competitive rate?

Yes. We have some of the most competitive rates in the country.

How accurate is the quote calculator?

The quote calculator will provide you with a conservative estimate to help you in estimating your cash flow needs.

Am I guaranteed to get approved if I submit my application?

Your application will enjoy the greatest chance of approval given we enjoy an overall approval ratio of 90%. But we cannot guarantee we will approve all transactions submitted.

Why do I have to give a personal guarantee for a company lease?

The younger the business, the more likely it is that a personal guarantee will be required to protect the company's investment. The benefit of a personal guarantee is that it lowers your lease rate because it lowers the risk.

Is there a maximum or a minimum lease amount?

The minimum deal that Proficom Financial can fund is $1,500. There is no maximum amount

What are my options if the Equipment supplier requires a deposit?

You can pay the deposit and lease the balance, or Lease the entire cost of the equipment including the deposit. You will be able to request a deposit reimbursement on your application. This means that we pay the equipment supplier in full, the equipment supplier will return your deposit.

Is insurance required for the equipment that I am leasing?

Generally, insurance is needed on every lease. Most business insurance also covers equipment leases. If you do not have business insurance, our funders will provide you with the option following the closing of your transaction.

Can I include services such as consulting and training in my lease?

Yes. Usually within a maximum of 25% of the overall equipment cost.

Can I still lease equipment if I have already purchased it?

Yes. This is known as a sale-leaseback. Typically, you can do this for equipment that has been purchased in the last 90 days.

Can I get a lease if my company is a "start-up?"

Yes, we are is willing to finance companies that have been in business for less than two years. However, you should expect to pay a slightly higher rate because your company is a higher risk investment than a more established company. Additionally, you will likely be required to provide a personal guarantee.

Can I get a lease if my company is acquiring another company?

This situation indicates that you are expanding or growing your business. In most cases this indicates strength in your business. Sometimes, expansions will add multiple locations and additional officers. If so, you will need to specify on your application what equipment is going to what location and the locations will need to be approved.

Can I get a lease if my company is being acquired or prospected for acquisition?

Typically you will have to wait until the acquisition is completed before applying for a lease. We will need to know the following for consideration:

• who the ultimate owners will be
• what the financial strength of the new parent company is, and
• if you are being acquired because you are in a state of financial weakness.

Can I get a lease if I have had a bankruptcy?

We are willing to consider companies that have had a bankruptcy but have been released. Because you will be viewed as a higher risk, you should expect to pay a higher rate and require additional guarantees

Apply online now

Click the appropriate button below to apply online now or to get an estimate of your monthly payment before you apply. For more information or assistance, e-mail