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Leasing equipment: Introduction

Small Business BasicsIf you decide to lease some or all of the equipment needed in your business, you will be in good company. A reported 80 percent of small business owners lease at least a portion of the items they use.

And thanks to industry consolidation and stepped-up competition, banks are beginning to explore the small-ticket leasing market in increasing numbers: Three percent of U.S. banks now offer small ticket leasing -- a change from the past, when banks steered clear due to the risk.

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Larry Elton, president of Advantage Leasing Corp. in Milwaukee, explains it this way: "If you're leasing five to 10 million dollars worth of equipment to a large company, of course there is less risk involved than leasing to a smaller, younger, and maybe less established business."

 

    NEXT: Lease or buy?
 
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