YOUR COMPANY IS LOOKING FOR SOLUTIONS TO LEASING ASSETS!
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Financing & Cash flow are the biggest issues facing business today
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Looking to get ' one up ‘when leasing assets in Canada. Whether it's lease financing or a bridge equipment loan of some sort there are some ultra-solid strategies that give you the ' secret ' to financing assets properly and effectively.
If your firm is profitable and growing there is always the need to replace assets. Your firm might not be large enough to have a tax manager or an experienced financial accountant but even the regular business owner recognizes that the need to balance an accounting, tax and cash flow operational needs when it comes to new equipment, whether that be shop floor assets, computers, rolling stock, etc.
Given that business (at least to us) seems to move at warp speed these days it’s critical to stay on top of what we can call the ' tech curve '. We're reminded of one of our favourite old lines ‘this technology is so leading edge even we don’t quite know what it does ‘! That just brings home the point that lease financing is one great way to help you manage that curve.
Employing the right lease strategies allows you to buy the latest and pay for it over time and by employing techniques such as an operating lease, or structuring your transaction to defer payments until benefits from the asset occur... well... we think you get the point.
In many cases solid pricing and approvals can be arranged directly through manufacturer financing plans, In Canada one of the main groups of lessors is what the industry calls ' Captives '. These are internal finance organizations within your manufacturer who are incented to come up with creative and low cost strategies to move product. And with all due respect to credit personnel inside these firms they are very much pressured to provide approvals that make sense given the parent companies need to generate revenues. We can attest to that one as we sat in that chair for about 20 years!
Our above point on approval to your transaction is really another one of our ' Secrets ' to effective equipment loan strategies. That's because the general competitiveness of the leasing industry gives you a greater chance of approval, more so if you find that your Canadian chartered bank won't finance the transaction you need.
It's no hidden secret however that the most common reason for choosing leasing is in effect that whole issue of cash flow and making maximum use of your credit facilities and working capital given the need to balance those with your requirement for new assets.
The ultimate win when it comes to leasing assets is your new found ability to reduce costs and cash outflows while at the same time gaining the benefits from the asset you're acquiring. As the industry itself puts it, ' do you want to own the asset, or on the other hand, get the benefits of using it '? We'll take the latter any day.
Speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your lease financing needs.
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Stan Prokop 7 Park Avenue Financial/Copyright/2020
