17 posts tagged “leasing”
June 18 (Bloomberg) -- The government’s bailouts of General Motors Corp. and Chrysler LLC are unpopular among large numbers of Americans, and that is helping to drag down President Barack Obama’s approval ratings, according to three new polls.
A survey published today by the Pew Research Center for the People & the Press found that the percentage of respondents approving of the way Obama is handling the economy dropped to 52 percent from 60 percent in April. Fifty-eight percent said they opposed spending billions of U.S. taxpayer dollars to keep the automakers afloat, compared with 36 percent in favor.
A New York Times-CBS News poll found 46 percent disapproved
of the government’s handling of the auto industry’s problems,
while 41 percent approved. And in a Wall Street Journal/NBC
survey, 53 percent disapproved of the U.S. providing financial
aid to the automakers. Detroit-based General Motors filed for
bankruptcy protection June 1 and Turin, Italy-based Fiat SpA
bought a stake in Chrysler, which is also partially owned by the
U.S. government.
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Sigourney, Ia. - Michael McLaughlin of Sigourney preferred tractors to textbooks when he started high school.
The teenager found a way to blend the farm and the classroom at eSigourney Entrepreneurial Academy for Leadership, a charter school that grooms students into business owners.
McLaughlin turned an idea to simplify farm chores into a moneymaker.
The folding truck tailgate he designed has a temporary patent and the attention of Des Moines businessmen who might buy his idea.
"I was more excited to go to school," said McLaughlin, 18, who finished his senior year last month. "I didn't have to go through the motions. If you give a student an opportunity to do something they want to do, they're going to come to school and like it."
The charter school stands out as one that broke the mold in Iowa.
Its business incubator, which takes up a storefront on the Sigourney town square, has drawn lawmakers, state education officials and school administrators from other states.
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Equipment Lease for Start Up Businesses
Equipment leasing is indeed an ideal option for many businesses especially those who have insufficient working capital to start with. About more than 30% of businesses in the US has already resorted to equipment lease financing to support their needs. However, the success of equipment leasing also depends on choosing the right equipment leasing company.
Some businesses may think that finding a leasing company with low leasing rates is a guarantee of an excellent lease provider. But this isn’t always the case. Although it is important to shop around for rates and consider leasing companies that offer good rates, this factor alone is not enough to ensure that you’ll getting a reliable lease provider. How can you choose the right equipment leasing company from a number of choices?
Making the Right Choice
Extensive research on your part as the lessee is needed to ensure that you’ll be working with the right lessor. One of the first things you should look for in an equipment leasing company is the willingness of its staff to answer your questions. You can only learn as much information as you can if the leasing company gives you sufficient answer.
A leasing company that offers unbelievably low rates may charge you with unexpected fees once you’ve signed up for the lease. Thus, it is crucial to be aware about the leasing company’s payment policies. You should know what exact payments you’ll be responsible for before signing any agreement.
Make sure that you understand the pricing terms of the lessor, the different leasing types they offer, your options as a lessee, and what types of equipment are accepted. Be wary about leasing firms which refuses to give the exact details about their company, or policies, or gives vague explanations to your inquiries especially with issues regarding payment.
It is also important to know that leasing companies differ in the services they provide. For instance, there are leasing companies that specialize on heavy equipment. Some leasing companies only cater to specific industries such as agriculture, transportation, health care, and other fields of business. It will save your time and effort if you narrow down your list of choices to equipment leasing companies that specifically caters to the nature of your business.
Leasing companies can be owned by a financial company, a banking institution, or independent leasing firms. You can find more independent lessors or small leasing firms in the market than larger equipment leasing firms. Don’t try to overlook these companies just because they’re small. The important thing is to check on the company’s background and reputation.
You can start your search for an equipment leasing company by getting recommendations from your friends or relatives who are knowledgeable in the business industry. You can also seek advice from your lawyer, your business accountant, and other professionals. If you know other business owner or entrepreneurs, ask them about an equipment leasing company they would endorse. The internet is also a great place to search for possible lessors. Just remember, take the time to research about the company and make sure that you understand what you’re dealing with before submitting that leasing application.
Read More Choosing An Equipment Leasing Company
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The demand for new and/or additional medical equipment continues to rise among heath care facilities. Quick Medical has recognized the need to offer hospitals, medical clinics, and other health care facilities the option of leasing new and/or additional medical equipment versus paying cash or long-term high interest rate financing.
Snoqualmie, WA (PRWEB) May 28, 2009 -- With the continued fluctuations in interest rates, slowing of the economy, and competition for new patients, a number of hospitals, dental and medical clinics are struggling with reduced cash flow and the dilemma of how to purchase new or additional medical equipment to meet the needs and requests of their patients.
"The medical industry continues to remain strong with the constant and increasing need for health care goods and services," said Bobby Beaulieu, IT Director at Quick Medical. "For many health care facilities, profit margins and cash flow are lower and the cost of providing newer or additional medical equipment is higher. At the request of our customers, we made the decision that we would offer a new medical leasing program designed specifically for hospitals, medical clinics and other health care facilities."
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Vendor Equipment Leasing Program
Financial resources play a crucial role in the success of every business. Without sufficient financial support, it would be very difficult for a business to survive in the industry. Fortunately, commercial business loans are available for all aspiring entrepreneurs who need funding assistance particularly in starting up the business.
What do you need to know about commercial business loans? Is it really necessary to obtain a commercial loan even if you already have your own funds? What are the advantages about obtaining commercial business loans? Let’s answer these questions one at a time.
Benefits of A Commercial Business Loan
What is the advantage of taking out a commercial business loan? Primarily, a business loan enables a new entrepreneur to bring those brilliant business ideas to life immediately. Having available funds prepared makes it easy to execute business plans without delays. A commercial business loan is a traditional financing assistance that has been used and proven by successful business owners around the world.
It is important to remember that you can’t expect to see profits or enjoy profits immediately after opening up your business. You may need to wait a few months before your business can establish its footing in the market. If you think that a small budget is enough to start a business, you’ll soon have to learn that you’ll encounter financial challenges as you run the business. With a commercial business loan to back you up, you can be assured that you have a reliable financing resource by your side.
Applying for a commercial business loan
Generally, commercial business loan lenders require a business plan to be submitted by their applicants. If you haven’t created your business plan yet, you should start making one before applying for a business loan. What information should you include in your business plan? A business plan is an outline that tells the nature of the business, the type of business you own, the products and services you offer, your target market, your current financial standing, and other details about your business accounting. Your business plan often determines whether your proposed loan would be granted or not.
Commercial business loans often require that collateral be submitted as a security for the loan. Your home property, assets or commercial property can be submitted as a security for the money you borrowed. And since your property is on the line, every business owner must take his payment obligations seriously.
A bad credit history or low credit score can cause a rejection of your business loan application. There are commercial business lenders who offer loans for bad credit but they usually come with higher interest rates and costs. Thus, applicants with good to excellent credit scores can expect to have better deals when applying for a commercial business loan.
Upon approval of your commercial business loan, be prepared to take on your payment obligations. Don’t forget that the success of your business depends on how well you keep up with your payments to your lenders.
Read More Financing Your Business with Commercial Business Loans
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Equipment Lease for Start Up Businesses
Spencer Richman, of Shaker Heights, Ohio, became president of the largest equipment leasing association in the United States at the Annual Meeting of the National Association of Equipment Leasing Brokers (NAELBä) on May 2, 2009 in Las Vegas.
PRLog (Press Release) – May 11, 2009 – Mr. Richman is the owner of American Financial Network, Inc., a commercial equipment leasing and financing company in Beachwood, Ohio. American Financial Network has been providing equipment leasing and financing to businesses and municipalities nationwide for over twenty years. The company offers leasing and financing for nearly all types of business equipment including computers, manufacturing equipment, software, vehicles, construction, medical, office equipment and more. Leases range in size from as little as $5,000 to as much as a few million dollars. While bank financing is very difficult to obtain these days, American Financial Network continues to provide funds for companies who need to acquire equipment.
The National Association of Equipment Leasing Brokers was formed more than twenty years ago to serve the interest of equipment leasing companies who broker or sell their leases in the secondary market. The association has experienced phenomenal growth, increasing from a few hundred member companies just a few years ago to over one thousand leasing companies at the end of 2008. NAELB member companies are in all fifty states and Canada and range from small one to two person operations to large national bank owned leasing companies.
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Leasing equipment is a practical option for any type of business. Business equipment which can be leased ranges from a simple cash registry to more complex types of machineries; from a regular car to large trucks and vehicles. Although, the procedures in obtaining business lease can be easy, there are some things you must consider before submitting your application.
Here are the factors that affect your approval when leasing business equipment.
How’s your credit status? Large corporations and companies who have been in the business for some time will not have a problem getting approved. But if you’ve just started up your business, you would need to have a good credit report to back you up. If you have a low credit score and have just started up your business, you may have a hard time getting an approval. Thus, it is always recommended to check on your credit report and do the necessary steps to increase your rating before submitting an application for equipment lease. If you already have a separate account for your business, make sure that you don’t have any outstanding balances with other creditors.
Have your documents ready. Generally, all business equipment leasing companies will require documentations on the types of equipment you need, the nature of your business, your credit history, business partners, and references in the business.
When it comes to references, it is better to provide as much references as possible to your lessor because it proves your credibility and ability to pay as a business. To be on the safe side, make sure that you did not have past conflicts with the references you will include even if these conflicts have already been settled. Past conflicts can also create a negative impression. Preparing for these documents in advance will save an enormous time with the processing of your application for equipment leasing.
Shop around for rates. Leasing companies do give free quotes on their services. Make sure that you take several leasing companies into consideration before choosing one. Knowing the rates offered by different companies will give you a more accurate idea on how much you should ask when negotiating with your chosen lessor.
Examine your business’s financial status. Look through your business account and study carefully the status of your finances. Give special attention to how your existing loans and if you’ve been able to keep up with all your payments. This will help you decide which leasing terms and which type of equipment will be best for the current status of your business.
Seek legal advice. When signing up for a contract, it is best to seek advice and assistance from a credible attorney to take a look at the legality and validity of the leasing contract. Remember that a contract binds you to your obligations on all terms that you’ve signed. Taking this extra step even if you’re rushing to obtain your equipment lease will ensure that you will not have any serious problem in the future.
Read More How to Get Approved For an Equipment Lease
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Equipment Leasing for Start Up Businesses
VAN NUYS, Calif.--(BUSINESS WIRE)--Easton-Bell Sports, Inc. (the “Company”), a leading designer, developer and marketer of innovative sports equipment, protective products and related accessories under authentic brands, will discuss its financial results for the fiscal quarter ended April 4, 2009 on a conference call to be held on Friday, May 15, 2009, beginning at 1:00 p.m. Eastern Daylight Time.
Results for the Fiscal Quarter Ended April 4, 2009
The Company had net sales of $184.9 million for the first quarter of fiscal 2009, an increase of $2.8 million, or 1.5% as compared to $182.1 million of net sales for the first quarter of fiscal 2008. The Company’s net sales for the first quarter of fiscal 2009 increased 4.3% on a currency neutral basis, as compared to the first quarter of fiscal 2008.
Team Sports net sales increased $7.0 million, or 6.9% for the first quarter of fiscal 2009, as compared to the first quarter of fiscal 2008. The increase in Team Sports net sales during the quarter related to increased sales of football helmets, ice hockey sticks and reconditioning services, partially offset by lower sales of licensed consumer products and baseball and softball equipment.
Action Sports net sales decreased $4.2 million, or 5.2% for the first quarter of fiscal 2009, as compared to the first quarter of fiscal 2008. The decrease in Action Sports net sales related to reduced sales of fitness products in the Mass channel and reduced sales of components to bicycle manufacturers, partially offset by the introduction of cycling gloves in the Specialty channel.
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If you have plans to apply for business equipment leasing, read on the following tips on how you can get a fast approval from your equipment leasing application:
Prepare all necessary documentations. Don’t waste your time looking for the required documentations just when the leasing company is already asking for it. Know in advance which types of documents are needed even before you submit your leasing application.
Generally, you’ll need to prepare a business plan, a history of your company, description of your business, a list of the equipment you wish to lease, your credit report, references for your business, etc. Your business plan should include your projected expenses, earnings and lease payments in case you obtain approval for your leasing.
It will also save you a lot of time if you let a Certified Public Accountant prepare a financial statement for the past years of your business. To be sure, you can call your prospective leasing company and ask the exact details about the paperworks needed.
Request and review possible quotes. Consider all your options before choosing a particular leasing company. Make sure that you’ll get the best rates by requesting for possible quotes and reviewing each one carefully. This will help you compile your equipment leasing request better.
Provide a number of credible references. Leasing companies appreciate it more if you give as many references as possible. Don’t include former clients if you have a history of conflict or complaints with them. Even if the matter has already been resolved, it can still have a negative impact to your business’s name. This shows your capability to pay and sincerity as a borrower. Don’t forget to provide the name, complete address and contact number of your references.
Have an attorney review the contract. Don’t sign up anything without having an expert have a look at the stipulations of your contract. Remember that any signed agreement is obligatory and you will not want to be bounded with unreasonable terms just because you did not check the document when you signed it.
Check your business’s credit history. Make sure that your business account is free from past due debts and conflicts from any creditor. You need a good credit status if you want to get a fast and easy approval. If your business has just started, make sure that your personal credit history is excellent and impressive. If you have present problems with your credit report, do the necessary actions first to improve your credit status.
Consider paying through ACH Debiting. ACH Debiting is an arrangement between you, your bank and your leasing company where your lease payments are automatically deducted from your account each month. This type of arrangement is ideal because it prevents the possibility of delaying or missing your payment dues.
As much as possible, make way for actions that will enhance your credit. You can enhance your credit status by obtaining more assets and investing in bonds or stocks. These will greatly boost your credit rating and make it easy for leasing companies to grant you approval.
Read More Tips On How To Get A Fast Equipment Leasing
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New Business Equipment Leasing
Vendor Equipment Leasing Programs
Why entrepreneurs aren't so optimistic about the economy.
Don't tell me that the economy is getting better, or has even hit rock bottom. My faith in an imminent recovery deserted me on May 5, when one of our customers, Salyer American Foods, based in Monterey, Calif., suddenly fell into receivership. There had been little to no indication that the company was so close to financial ruin. As it turns out, the company's lenders say Salyer owes them over $34 million, a debt equal to almost half its sales. A company attorney told local media that tight credit markets and the economic recession had pushed Salyer over the edge. If the receiver doesn't find some way to revive the company's fortunes, our bag manufacturing company stands to lose nearly $1.5 million in revenue, about 2 percent of our $60 million in sales.
On the same day my customer fell into receivership, Fed chairman Ben Bernanke told a congressional committee that he believed the economy was in the process of bottoming out and "would turn up later this year." He's not alone in his optimism. Over the past two weeks or so, it has become a cottage industry among economists and the media to spot the first "green shoots" of a recovery. Certainly shoots there may be. The stock market has rebounded smartly over the past two months, as has consumer confidence. Pending home sales have ticked up, while unemployment claims are easing. And many economists insist a manufacturing revival is in the wings because inventories have fallen so low that restocking must begin soon.
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