FAQ's

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Equipment Leasing FAQ's, Frequently Asked Leasing Questons, FAQFrequently Asked Questions

     FAQ's for Business & Non-Profit Equipment Leases

Q.    What equipment can I lease? 
A.   
Just about any commercial equipment for  use in business, government or non-profit institutions...[the list] is extensive

Q.    What dollar amount can I finance and for what term?
A.   
Our minimum lease size is $2,000.  QuickLease (application only) is valid up to $100,000.  Our commercial lease programs run from $50,000 to  $5,000,000.

Q.    Are there any "application fees, closing costs or points" with a First Capital lease?
A.   No.  Unlike most banks we do not add points or closing costs.

Q.     Does the equipment have to be new?
A.
     No.  We provide lease financing for used and/or new equipment--in fact, we can even buy back equipment recently purchased for cash and lease it back to you to free up cash!
        
(with the exception of computers and copiers)

Q.    How long does it take to be approved? 
A.
    QuickLease™ leases can be pre-approved in 30 minutes.  Complete approvals take 24-48 hours (depending on how fast your bank and trade references respond to us.)

Q.    How do I know I will get the best price on the equipment that I want?  
A.   Because you will negotiate your own best price, with the vendor or your choice. First Capital only purchases the equipment that you have selected at the price you have agreed to.

Q.    What about "software" and other "soft" costs in general like training, installation etc.
A
.   We can provide up to 100% financing for "software only" leases.  Our standard leases all include allowances for costs like training, installation, initial maintenance and consulting fees 

Q.    Who is responsible for insuring the leased  equipment?
A.    This is the lessee's (your) responsibility.  You will be asked to provide proof of insurance coverage. 

Q.     Do I need "perfect credit" to get a business lease?  
A.
    Not usually.  We can deal with a wide variety of credit challenges--past slow pays, past paid liens, an occasional charge-off even an older, adjudicated bankruptcy!  We will look closely at your payment history since the credit issues were first reported for evidence that you have gotten your finances back in order.  (Our goal is to find reasons to make transactions work.)

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