I. Can CCLG lease to new businesses ?
Any business in existence less than 2 years is considered a new business. We can offer leasing to new businesses up to $50,000 for most equipment and vehicles and up to $100,000 for construction equipment and construction vehicles. Of course, since the business has no credit history, our decision is based on the personal credit of the owner(s) or guarantors.
II. How do I apply for a lease ?
You can apply for up to $75,000 by simply filling out an one-page application. That's it! Corporate Capital Leasing does not require you to submit financial statements or tax returns like traditional lenders do.
II. What are the rates?
Rates vary depending on the amount of equipment Leased and the credit of the applicant The higher the equipment cost, the lower the rate. Keep in mind also that the Lease payments may be fully tax deductible so the after-tax rate may be 6% or lower. The important thing to remember is that CCLG will match the rate to the risk which allows us to deliver approvals on higher risk leases.
III. What equipment can be Leased?
Virtually anything that is not permanently attached to real estate can be Leased. Corporate Capital Leasing will Lease new or used equipment. You pick the supplier and negotiate the final purchase price. Corporate Capital Leasing does not sell equipment. You must purchase the equipment (new or used) from a dealer and vehicles (new or used) from a dealer or a private party. Here is a list of the leases we have done over the years: click here
We also lease quite a few limousines and limo buses. Most new limo companies have trouble getting financing or leasing for their first vehicle. That's where we can help. We can even help find a good, clean used limo through the many dealers we have worked with in the past.
IV. Do I have to know what equipment I want to apply for?
Not necessarily. If you would like to apply for a Lease before you do your equipment shopping, simply apply for a Leasing Line of Credit. Then when you have picked out your equipment, the Leasing will already be set up. There is no charge to apply and you are not obligating yourself in any way whatsoever. However, if you are applying for a construction vehicle or equipment lease, the value of the equipment plays an important part of the decision so it is best to know what equipment or vehicle you want before you apply.
V. What if I have bad credit?
Credit is not an exact science and people cannot be judged solely on a credit score. That's where CCLG's experience is important to you. If you had a bankruptcy more than 5 years ago and have re-established credit, that's fine. If you had tax liens but they were paid, that's good. If your credit score is under 600, you should consider getting a co-signor. It's hard to give an answer that covers all situations. We have to know the complete situation to give you an answer and the only way to do that is for you to submit an application..
VI. I'm interested, what now?
Select "APPLICATION" from the column on the left and go to our online Lease Application. You can apply there or if you prefer, email us the word "APPLICATION" with your fax number and we will fax or email you one.