When start-up costs are high and cash flow is tight, leasing your signage can be an option to consider. The benefits of leasing are many, including:
Can include shipping, installation, and permit costs
A simple, one-page application with a decision is usually completed in a couple of hours
Payment terms are specially tailored to meet seasonal cash flow
In most cases, your company can write off the full payment as an operating expense
No Large Deposits
Generally, we only require a first and last payment, not 20% down like a bank
Who Can Finance
More than 80% of all U.S. companies lease all or some of their equipment. Any type of organization can lease the following:
- Government Agencies
- Nonprofit Organizations
Sign Leasing Process
Here is a step-by-step breakdown of how the typical leasing process works at our company using Fernwood Capital & Leasing (FCL) as the financing institution.
1. SDDI Signs proposes a quote which will include the leasing option.
2. We then contact Fernwood Capital & Leasing when the leasing option is chosen or ask you to complete and fax the Lease Application to FCL. FCL assists us by contacting the customer directly with any questions or additional information that may be needed.
3. FCL receives the completed and signed lease application.
4. For transactions less than $75,000, FCL normally reaches a credit decision within 24 hours, and both SDDI Signs and the customer are notified. For transactions over $75,000, FCL will contact the customer for financial statements. Credit decisions involving financial statements usually take two to five business days from receipt of the financial package. Approvals are valid for approximately 90 days.
5. If your request is approved, we send the approved quote to FCL so they can prepare lease documents and send them to you for signature via email, fax, or courier.
6. The signed documents are sent back to FCL with the advance rental check in the prepaid overnight service.
7. FCL notifies SDDI Signs upon receipt of the lease documents and issues a purchase order to us if requested.
8. We then install the signage and notify FCL upon completion.
9. FCL contacts the customer to verify installation and the terms of the lease and obtains the customer's approval to pay SDDI Signs.
10. FCL then remits payment to SDDI Signs via wire or overnight service.
While the above is the standard operating procedure, FCL will consider alternatives in special cases. We have a strong focus on the entire leasing process, and we take pride in returning fast credit decisions and paying the vendor the same day that delivery is confirmed.