Since its inception, one of the principal missions of Horizon Community Bank (“HCB”) has been to serve the needs of small business owners in the Arizona markets in which it operate. If you are a business owner, regardless of the industry sector in which you operate, you likely have some kind of equipment need that allows you to deliver your products or services to your clients. For many businesses, its equipment is essential to its success. During 2011 equipment purchases increased significantly as over $1.2 trillion in equipment was acquired in the U.S., of which $628 billion was financed. Of that, over 60% ($376 billion) was leased. The primary reason for the increased volume of equipment purchase is business owners are addressing the issue of aging equipment.
If you are a business owner upgrading your equipment, expanding your operations or replacing older equipment, you owe it to yourself to consider leasing as a viable option to either purchasing the equipment outright or using debt to acquire it. You also owe it to yourself to think about your independent community bank—HCB—as your source for leasing the equipment you are looking to acquire.
HCB stands ready to respond to your needs quickly with convenient, flexible and competitive lease programs. After all, your company makes money by using equipment…not owning it. In fact, many businesses opt for leasing as a solution in order to preserve cash, take advantage of tax benefits and reduce the risk of obsolescence.
With HCB lease programs, payment options are tailored to meet your business demands and cash flow needs, plus variable terms are available for new or used equipment. We can even refinance your existing equipment under a lease structure. When you lease equipment, you’re not tying up your cash. You can keep your working capital free for other uses, not tied up in fixed assets.
Leasing provides greater flexibility than purchasing and can protect you from being locked into owning equipment that may not meet your future needs. Your needs will change, technology will improve, and with leasing, you can upgrade your equipment within the lease term if need be. When the lease is over, you have several options—renew your lease at a reduced payment amount, purchase the equipment, or return the equipment. Talk to your tax advisor as well. Leasing may offer tax advantages as an operating expense, so it could actually cost less in after-tax dollars than an outright purchase.
Too often, business owners simply work through their equipment vendor to secure lease terms for equipment acquisitions. For the sake of perceived convenience, they do not take the step of calling their community bank. We can often provide much more competitive terms. Why lease from HCB? We are your community bank. We are part of this community and care about your long term personal and business success. A traditional leasing company may only be interested in the success and profit of the single lease transaction in question at the time, whereas HCB is relationship driven.
Following are but a few examples of “business essential equipment” HCB can assist your company in leasing:
- Hospital, surgery center, medical/dental equipment
- Commercial solar, A/C and heating systems
- Computer hardware and software
- Construction equipment
- Machine shop/machine tool equipment
- Point of sale equipment
- Printing, embossing, embroidery equipment
- Telecommunications equipment
- Office furniture, fixtures and equipment
- Lighting systems
- Warehouse racking systems
- Agricultural and irrigation equipment
- Golf course maintenance equipment
- Automotive repair, testing and painting systems
- Restaurant furniture, fixtures and equipment
- Retail store fixtures
- Playground equipment
- Refrigeration equipment
- Service station pumps, canopies and tanks
- Hotel furniture, fixtures and equipment
- Service fleet vehicles
- Over the road trucks and trailers
Another reason to consider HCB is that we can offer you side-by-side proposals to acquire your equipment with traditional loan terms.
Make a more informed business decision when you are acquiring or refinancing new or used equipment by calling your community business banker at Horizon Community Bank