If you are trying to figure out how to most efficiently furnish your office space with the equipment your business needs, here is some information about leasing equipment that might be helpful:
- Leasing helps your business’s cash flow. The main benefit of leasing is that it frees up cash for your business. Leases for equipment typically do not require down payments, though some might need a refundable security deposit. On the other hand, loans for buying equipment usually need down payments that could be 25% or more.
- It is easier to fund leases than purchases. Banks usually will not give capital equipment loans without seeing 2-3 years worth of financial records—something that most new companies do not have. However, leasing companies typically only want to see 6 months – 1 year of credit history in order to approve an office equipment or furniture lease.
- Leasing makes it easier to keep up with technology. Leasing is an especially good option if your business needs to stay on top of cutting-edge technology such as the newest communication devices, computers, or other office equipment. Short-term leases are more cost-efficient than purchasing new equipment every few years. Sometimes office equipment leases have annual computer upgrades built into the lease, which saves you from the difficult decision of whether or not you can afford to upgrade.
Check back for more information about how leasing might be a good option for your business!
Are you or any of your peers looking for an office rental space in Overland Park? Give a commercial real estate broker in Overland Park a call at 913-685-4100 to get more information about some of our available spaces!
