Questions and Answers

FAQs About Offering Financing

  • Why does it make good sense to offer financing options for your equipment sales?
    • Eight out of ten businesses finance their equipment purchases
    • A monthly payment option eliminates price resistance and shortens the sales cycle
    • Customers have come to expect equipment sellers to automatically offer their products with a monthly payment option
    • Offering financing at the point of sale makes it easier for your customers to buy rather than having them do the work to find their own financing
    • The IRS Section 179 deduction allows businesses to deduct the full purchase price of qualifying equipment and/or software financed during a particular tax year
  • What is LCA's average turnaround time for credit decisions?

    For Applications under $150,000 the turnaround time for credit decisions is 2- 4 hours. Applications over $150,000 may require additional time. 

  • How do I get started?
    • Please call us at 800-800-8098 or send us an email.
    • After speaking with an Account Executive, you will be asked to submit an Equipment Supplier Profile to become an approved LCA equipment provider
    • Once you are an approved provider, you will be provided with documents including a Credit Application and a sample Finance Agreement
    • You will also be provided training by your dedicated Account Executive, walking you through the steps to use equipment financing as a tool to close more deals
    • Based on your needs, custom marketing materials can be created to help your promotional efforts; this could include:  Digital Program Flyers, Proposal Generators and Rate Sheets
  • Why should you use LCA as your equipment financing partner?
    • Competitive financing rates with LCA Bank Corporation 
    • FREE Proposal Generator - create a professional lease quote just by entering an equipment cost
    • FREE Marketing Support - LCA can work with you to create promotional flyers to promote your lease program
    • Pre-funding up to 100% available - subject to equipment provider approval
    • Syndication desk for marginal and start-up credits
    • For Applications under $150,000 the turnaround time for credit decisions is 2-4 hours. Application over $150,000 may require additional time.
    • LCA will prepare all lease documents
    • eSignature lease documents
    • Standard and specialized financing programs including LCA's 12-Month 0% Interest or Zero Down, 90 Days Deferred
    • Prompt service - dedicated LCA Account Executive and same-day funding available
    • LCA is a direct funding source with its own banking subsidiary - LCA Bank Corporation.
  • How does equipment financing benefit my customer?
    • Fixed Payments
    • Little to Nothing out of pocket
    • Financing of Soft Costs
    • Avoid Equipment Obsolescence
    • Potential tax deduction with IRS Section 179

Get more information about offering equipment financing

Get more information about offering equipment financing