Frequently Asked Questions
What is a lease?A lease is an agreement by you (the lessee) to pay a monthly payment for a specific amount of time to the leasing company (lessor) for equipment you have financed or selected from an equipment vendor of your choice..How can my business benefit from leasing?All businesses can benefit from utilizing equipment leasing. Whether the business is new or established, financially strong or challenged. Leasing will provide you with the necessary equipment, when you need it without the large security deposits generally required by banks..What types of equipment can I lease?KTK can arrange equipment leases for all types of equipment, as long as it is used for business purposes.What kind of businesses can you arrange a lease for?We can provide leases for any business in virtually any industry. We specialize in providing equipment leases for small to medium sized IT companies.What types of lease terms are available?Lease terms are 12, 24, 36, 48, 60, and 72 months. Longer terms may be established for high costs items only and can be provided on a case by case basis. Purchase options include Fair Market Value (FMV), $1 Buyout, and 10% Put.How is a lease different that a loan?A lease is an agreement to make payments for a specific amount of time for the right to use the equipment owned by the lease company. A loan is a financing vehicle to pay for equipment owned by the user of the equipment. It should be noted that with a bank loan you can only get tax benefit for the interest. With most leases the entire monthly payment will have the tax benefit of a purchase.What is needed to qualify for my equipment lease?Financial package which usually includes last two years tax returns & financial statements.After I submit my request for an equipment lease. How long will it take to be approved?In most application only transactions, approvals can be generated within 24 hours.What kind of investment is required to obtain my equipment lease?Generally we require a first and last month’s payment. If there are credit problems we may require a security deposit or some form of collateral.What are your minimum and maximum lease amounts?Our minimum lease amount is $5,000 our maximum lease amount is $5,000,000.Do you finance soft cost such as installation & service?Yes, in certain circumstances, we can provide 100% financing including soft cost.Do you finance software?Yes, we do.I have located the equipment I want to lease for my business, but I want to purchase the equipment from several different vendors. Can all the equipment be put on the same lease?Yes, We will arrange to put all the equipment on the same lease.