An equipment lease is an agreement between a business and its leasing company wherein both parties agree to compensate for the use of apparatus over a designated period of time. Its terms will delineate how long the lease should last; specify the magnitude of payment due; as well as any applicable fees if it needs to be terminated early on.
Accessible heavy equipment finance companies near you offer a plethora of financing options to assist businesses that require the acquisition or lease of heavy machinery. These institutions typically provide both short-term and long-term lines of credit along with leasing programs - enabling them to help organizations cut costs on their purchases while providing competitive rates and accommodating terms for repayment.