Why should I do business with Atlantic Leasing Group Inc.? Atlantic is a family owned business that will work for you to get you the best financing for your equipment. Because equipment is used to develop or maintain profit for your company, financing equipment is more than just credit score and equipment value. Helping the funder understand your need for the equipment and your business goals is key to securing the loan. Our job is to get the lender focused on your transaction.
Are there any tax advantages to leasing? In many cases lease payments are 100% tax deductable and are treated like an expense. This tax benefit helps you pay the monthly payment, because it is a monthly expense.
What about the length of time to pay and payment amount? The length of your term will often be longer than a bank grants for equipment leases, and the payment will be level for the life of the lease. Since payments are fixed, budgeting is much easier.
How long does it take to get an approval? Transactions up to $100,000 can typically be approved in 4-24 hours.
Transactions over $100,000 are generally approved within 2-3 days after receipt of the necessary financial information.
What financial information is required for approval? Transactions up to $40,000 may require a 3 month bank activity statement.
Transactions of $40,000 - $100,000 may require bank statements for financial disclosure.
Transactions over $100,000 will often require financial statements and tax returns.
Who handles the paperwork? After you provide us with the appropriate financial statements, Atlantic Leasing will handle all aspects of the lease. We will take care of all the credit investigation, approvals, and other paperwork. This allows you to concentrate on your business.
Can other things be included in the lease besides the equipment? Absolutely. Soft cost such as sales tax, delivery, installation, etc. can usually be included in the lease payment. Normally 100% of the costs can be covered by the lease.
Is it possible to lease if we are Government or a non-profit? Yes. We have the capability to lease to Cities, Counties, Townships, Public School Districts and State Governments. This would include Fire Departments, Police Departments, State Universities and more. The equipment would include computer equipment, communications equipment, transportation equipment and more. We can also lease to the Federal Government. This would include customers such as the Armed Forces, Veteran's Administration and US Postal Service, etc.
Non-profits also have options for special pricing based on your non-profit status.
What if our business is seasonal? Those with good credit can get seasonally adjusted payments. If you close for the summer or winter, you can pay higher payments when your business is active and low payments in the off season.
What are the benefits of leasing? Income Is Generated By Use Of Equipment, Not By Ownership.
Conserve Capital Leasing leaves cash available for more profitable uses or assures a cash reserve.
100% Financing No down payment is required. The soft costs, i.e. sales/use taxes, delivery, installation, training, etc. can also be included in the lease payment.
Longer Terms Equipment leases typically can be for a longer period of time than Conventional Bank Financing, affording lower payments.
Protect Bank Lines Leasing leaves bank lines available for other non-equipment uses.
New Source of Business Funds Leasing establishes a new source of credit.
Tax Advantages In many cases, lease payments are 100% tax deductible and are treated as an expense. This results in substantial tax savings, affording a lower cash outflow.
Fixed Payments Lease payments are fixed for the entire term of the lease contract. They do not float as Conventional Bank Financing does.
Ease of Budgeting Since lease payments are fixed, budgeting is easier, as the payments in the future always remain the same.
Why should I as a Business Broker have an association with a commercial lending broker? Financing is often the hardest thing to resolve in the sale of a business. Getting the right financing to satisfy the buyer with the speed to keep the seller from losing interest can be tricky. Securing the price and your commission can be equally as difficult when the right financing is not in place.
Atlantic Leasing serves as an important link in the communication of issues and procedures that arise in the purchase of a business. We work to create the spirit of cooperation among all the parties involved for that is critical to closing the deal.
What can third party lenders bring to your transactions that others can not? Speed, not rocket speed, but clearing the way for things to be looked at now and decided on now, keeps the deal alive. The transaction may need to be brought to more than one lender. Our third party lenders will often give faster answers than most banks and move the deal through to an approval or decline in days—not weeks.
What are some of the benefits of working with a Finance Broker? Stronger closing ratios can be achieved when financing options are in place for your buyers to use.
Sellers see that you are prepared to guide them through the entire process.
Opportunities for extra income generated through equipment leasing and working capital loans.
Lead opportunities from Atlantic’s many requests from those selling businesses and those seeking businesses to buy.
Are there other benefits to working with Atlantic as a broker? Your clients’ need may not always be to sell a business. Some may wish to expand a building, update equipment or institute some other business growth that requires funding. When you bring this type of business to us, we share the commission paid by our lender partners. Why pass up the chance to make money just because the contact is not selling or buying a business right now? Make the connection and get paid while you look for other prospects who are selling a business.
What will I need to sell my business? Two years of business tax returns (interim report if the full tax statements are not available), one year plus most recent quarterly P&L statements with balance sheet make the process easier. Your reports should be accountant prepared, but they can be Quick-books or other accounting systems that you can prepare. A list of equipment and inventory value will also help.
How long will it take to get an approval? A qualified buyer can get a proposal for financing in 48 hours after all documents are received by our lender partners. Preparing your own business records will expedite the process.
How long will it take for the sale to close? The complexity of the transaction and the amount of documents required such as titles, deeds, property leases, licensing, inventory and other items specific to your sale, determine the length of time it takes to close a sale.
As the seller most of these items are your responsibility. Speaking to your lawyer, accountant and landlord about these items early in the purchase process will help move things more quickly.
What will I need to buy or start a business? If this is your first business purchase, you will need to demonstrate financial stability.
A basic application is required along with the typical requirements of a resume of business experience, two years of tax returns, a personal financial statement, a business plan and a proforma (business projections; costs, sales and profits).
Experienced business owners buying an additional second business in the same or related field will need to submit the application, tax returns and a personal financial statement. If the business is much lager than the present business you own, more detailed information will be requested as needed.
Can you help me locate a business to buy? Yes we can. Through our business broker partnerships we can help people in many parts of the country. If you find a business on your own we will guide you through the purchase process.
If my credit is marginal can I still buy a business? Getting credit is a function of credit worthiness and assets. If you have assets that are available to secure financing, you may be able to qualify. If you have others who will help you to secure the financing, you may be able to qualify. Past problems will not stop you from getting financing, but ignoring or hiding them will. If you have had problems in the past give us the information upfront, we will help if we can.
Why does it cost more to borrow money for a business than a house? Normally your home is the last place you will allow to go. If the business is not doing well, you can close it and get a job to keep the house—your home where your family lives. It is a simple function of which comes first for most people.
Why should I do business with Atlantic Leasing Group Inc.? The bottom line is this: most leasing companies tend to tell vendors that if their customer can breathe on a mirror they will get them approved, they will have the approval in an hour, and they will get the lease signed the next day and pay you within an hour. Welcome to the real world. Nobody can approve junk. Even though timely service is crucial, we believe the most important thing to you is more sales.
Our research shows that the majority of vendors use leasing after the sale. The customer either asks about financing after they make the decision to buy or they complain about the equipment cost and question if they can afford it. Leasing is used in both of these scenarios to salvage the sale. Our goal is to help you, the vendor, generate additional sales by sharing techniques that incorporate leasing into the entire sales process. We will start at the beginning of the sales process, which usually is your advertising. We will show you how to use financing to attract new customers and leads, and we will share the closing techniques using leasing.
Our primary goal is to assist you in generating and closing more sales.
How long does it take to get an approval? Transactions up to $100,000 can typically be approved in 4-24 hours.
Transactions over $100,000 are generally approved within 2-3 days after receipt of the necessary financial information.
When do I get paid? Our lender partners issue your check within 48 hours after notification of delivery and installation of your equipment.
Who handles all the paperwork? We will handle all aspects of the lease. We will take care of all the credit investigation, approvals and all necessary paperwork. This allows you to concentrate on sales.
What if the customer does not pay and the lease goes bad? All transactions that are completed are done on a non-recourse basis. The credit decision was not made by you; therefore, if the customer does not pay it is the problem of Atlantic and our lender partners, not yours.
Can other things be included in the lease besides the equipment? Absolutely. Soft cost such as sales tax, delivery, installation, etc., can usually be included in the lease payment.
Is it possible to lease to the Government? Yes. We have the capability to lease to Cities, Counties, Townships, Public School Districts and State Governments. This would include Fire Departments, Police Departments, State Universities and more. The equipment would include computer equipment, communications equipment, transportation equipment and more. We can also lease to the Federal Government. This would include customers such as the Armed Forces, Veteran's Administration, and US Postal Service, etc. Leasing to the Federal Government is big business and is on the rise.
What are some of the benefits of leasing?
Create New Traffic Adding financing options for your potential customers will increase traffic and/or leads.
Increase Sales Selling a payment verses cost of equipment makes your customer’s decision much easier.
Quicker Payment You typically receive payment within 48 hours of equipment installation.
Overcome Budget Objections It is easier for a customer to get a payment approved than a total equipment acquisition cost.
Fast Approvals Transactions submitted for $100,000 or less are typically approved in 4-24 hours.
Simple Financial Disclosure Typically, a one-page credit application is all that is required.
Special Structuring Special programs such as skip payments, step payments, seasonal payments, etc. are available. There are also special programs for non-profits.
Municipal and Federal Leasing Programs are Available.
Leasing to Government is big business and should not be overlooked.
