Frequently Asked Questions

For answers to Frequently Asked Questions, click on a link below. If you still have questions please send us an email.

	~ How long does it take to approve my equipment lease?
	~ What kinds of equipment can be leased?
	~ Does the lease equipment have to be new?
	~ What is the buy out at the end of the equipment lease?
	~ What is the interest rate on a equipment lease?
	~ Can leases be pre-paid at any time?
	~ Are lease payments tax deductible?
	~ Are lease interest rates variable?
	~ What is the minimum lease amount?
	~ How long do I have to be in business to qualify for a equipment lease?

How long does it take to approve my equipment lease?
Equipment leasing is very quick. Equipment finance requests for up to $75,000 can be approved in just a few hours from a one-page credit application. Documents are sent overnight, hand-delivered, or emailed to the customer, and a purchase order is immediately faxed to the vendor once documents have been received.

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What kinds of equipment can be leased?
Equipment leasing and equipment finance options apply to most capital items. Union Capital has divisions that specialize in hi-tech specialty equipment such as audio/video, or printing, but we will finance most anything. Equiptment leasing can include furniture, software, and other soft costs associated with equipment purchases.

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Does the equipment have to be new?
No.

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Portimaro cheap hotelsWhat is the buy out at the end of the lease?
You have a variety of options available to you. These include Fair Market Value (FMV), $1 Buy Out, and Fixed Percentage Purchase Options.

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What is the interest rate on a lease?
Rates are determined based on credit history, equipment cost, and term structure. For an immediate quote complete our Online Preliminary Application.

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Can leases be pre-paid at any time?
Yes.

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Are lease payments tax deductible?
Typically the IRS will allow you to write off 100% of your lease payments on a True or Fair Market Value (FMV) lease. Consult your accountant for specific application to your business.

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Are lease interest rates variable?
No. Interest rates and terms on leases are fixed.

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What is the minimum lease amount?
Approximately $5,000

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How long do I have to be in business to qualify for a lease?
Lloret de Mar locandaMost programs require a minimum of two years in business, however exceptions can be made based on the credit strength of the company. Union Capital also has a program for businesses that have been established for at least six months. Freelancer's can prove time in business either verification of a business checking account, or by showing income on Schedule "C" of a tax return.

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