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FAQ



What is the procedure for leasing equipment? How does it work?

Step One: Vendor proposes a lease solution to acquire necessary equipment and customer accepts

Step Two: Vendor has customer (lessee) complete a lease application and submits to LCA (lessor)

Step Three: LCA performs credit review on Lessee

Step Four: If approved, Lessee will complete all necessary Lease documents to fund equipment transaction

Step Five: LCA receives all necessary lease documents and approves delivery of equipment

Step Six: Equipment is delivered and accepted by Lessee

Step Seven: LCA pays for the equipment and commences Lease

 

How do I get set-up as a partner with LCA?

First, fill out a Vendor Profile or call our sales department at 800-800-8098.

How do I offer a lease?

  • Please call us at 800-800-8098 or send us an email.
  • After speaking with an Account Executive, you will be asked to submit a Vendor Profile to become an approved LCA vendor
  • Once you are an approved vendor, you will be provided with documents including a Credit Application and Lease Agreement
  • You will also be provided training by your dedicated Account Executive, walking you through the steps to use leasing as a tool to close more deals
  • Based on your needs, custom marketing materials will be generated to further help you go to market with leasing:  Program Flyers, Proposal Generators and Rate Sheets

Who qualifies for lease financing with LCA?

  • LCA finances equipment for commercial businesses, associations, non-profit organizations, and municipalities.

Should I include tax on the lease?

  • Contact your dedicated Account Executive regarding documentation. Tax guidelines vary by state. If a customer is tax exempt, proof of the exemption is required.

 

How soon will I be paid for the equipment?

  • After the delivery and acceptance, payment is made within 48 hours, or sooner with direct deposit.

Why does it make good business sense to offer leasing?

  • Eight out of ten businesses lease equipment
  • Leasing is a total acquisition solution that shortens the sales cycle
  • Customers have come to expect equipment vendors to automatically offer their products on a sale and lease basis
  • When leasing is not offered on a sales proposal, customers assume that you do not have the ability to provide a financing solution, which may limit your future relations with those customers
  • The IRS Section 179 deduction allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during a particular tax year.

 

What is LCA's average turnaround time for credit decisions?

  • For Applications under $100,000 the turnaround time for credit decisions is 2- 4 hours. Applications over $100,000 may require additional time

 

Why should you use LCA for your lease financing company?

  • Competitive lease rates with LCA Bank Corporation 
  • FREE Proposal Generator - create a professional lease quote just by entering an equipment cost
  • FREE Marketing Support - LCA can work with you to create promotional flyers to promote your lease program
  • Pre-funding up to 100% available - subject to vendor approval
  • Syndication desk for marginal and start-up credits
  • For Applications under $100,000 the turnaround time for credit decisions is 2-4 hours. Application over $100,000 may required additional time.
  • LCA will prepare all lease documents
  • eSignature lease documents
  • Standard and specialized lease programs including LCA's 12-Month 0% Interest or Zero Down, 90 Days Deferred
  • Prompt service - dedicated LCA Account Executive and same day funding available
  • LCA is a direct funding source with its own banking subsidiary - LCA Bank Corporation.

 

How does leasing benefit my customer?

  • Fixed Payments
  • Affordable Down Payment
  • Add 'Soft Cost'
  • Avoid Equipment Obsolescence
  • Potential tax deduction with IRS Section 179

 

Why does my customer have to provide additional information to be approved for a lease?

A lease transaction is an extension of credit that is based on the ability of the lessee to repay the debt. Specific credit information is often not publically available, resulting in LCA requesting that the customer provide it.

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