Business Equipment Leasing: What Sort of Equipment Can Be Leased?

Setting up or expanding a business can be challenging, especially because you have to pay for the space, the workforce, and all your equipment at once. A possible solution is business equipment leasing, which allows you to spread out the cost of your items and remain more flexible. There is a wide range of different options and products available, both physical and digital.

A large lending company such as Noreast Capital can help you gain access to almost everything your business needs: furniture, large electrical items, an HVAC system, and even software. Small and mid-sized businesses can benefit from this because they can expand faster, invest more money in expanding their operations, and exchange old equipment more frequently.

What Equipment Can Be Leased?

Whether you’re thinking of starting a new business or you’re already running a company and hoping to expand, leasing could be a great option for you to make it happen. The main advantage is that you can gain access to the equipment you need without having to make the high upfront investment. This could allow you to grow your business faster or get started at a much lower cost.

There are almost unlimited types of equipment you can lease, and they cover the majority of business ventures. For example, you can borrow restaurant equipment, office furniture and electrical devices, security equipment, and even software. No matter what your needs are, you should get in touch with Noreast Capital to find out whether we have the suitable tools for your business.

Large Pieces of Restaurant Equipment

If you’re setting up a new restaurant or expanding your current one, you might not have all the capital you need to purchase the large pieces of equipment required. In such a situation, you can simply lease them, either temporarily until you can buy, or permanently. That way, you can reinvest all your profits instead of spending them on expensive gadgets.

At Noreast Capital, we can lend you a wide array of tools you need to set up your restaurant or catering business. This might include refrigerators, ovens, dish machines, beverage dispensers, fryers, and ranges. In addition, we can also provide you with furniture if you would like to offer onsite dining, and we can help you to access an HVAC system that suits your venue and local climate.

Office Furniture and Tools

There are a wide range of businesses that require offices, and not all of them have the resources to immediately purchase all their furniture and tools. For this reason, these items are one of our most popular classes of equipment. We can provide you with photocopiers, telephones and the associated cabling, printers, scanners and other graphic design equipment, and furniture such as desks or chairs.

By making use of business equipment leasing, you can expand your operations faster and add more space to the office without having to worry about the cost of the equipment. In fact, we have different types of leases that suit a wide variety of businesses, so you can choose to start repayments immediately or to delay them. If you have a seasonal business, we can even charge you less during the months you don’t have cash coming in.

Security Equipment

Every physical business needs to be adequately protected from crimes such as theft, burglary, or vandalism. Some of the best types of security are cameras either outside or inside and an alarm system, but there are other options that could be suitable, depending on the type of business you run and what assets you keep at the premises overnight.

Because security equipment can be extraordinarily expensive, you should consider starting out with a lease. If you decide to remain on the premises and you like the system, you can always decide to purchase your equipment at the end of the lease term. However, starting out by lending can help you avoid the large upfront investment that comes with high-quality security.

Software

Borrowing physical items isn’t the only type of business equipment leasing that exists. In fact, we can also provide you with the software necessary to run your company. As you may already know, it can be expensive to purchase software for advertising, accounting, graphic design, or business management upfront. If you don’t know whether a certain tool is right for you or you don’t anticipate using it long term, a lease could be a much better option for you.

In addition to the fact that you’ll pay less, you can also deduct leased software from your taxes. That’s why countless other businesses have decided to choose this option and are now gaining access to the newest technology without having to spend thousands upfront. What’s more, because the lease term is limited, you’ll be able to upgrade to newer versions of the same software as soon as it comes out.

Is Business Equipment Leasing for Me?

Now you understand what kinds of products we lease, you might wonder whether this is the best option for you. After all, isn’t it more expensive to lease than to purchase items upfront? The answer is that it depends. Although it can be cheaper to buy everything, starting your business might require a lot of different types of equipment, which means you’ll have to take out loans. This can be more expensive than a simple equipment lease.

What’s more, you only pay a low monthly fee when you lease, which means that you get to keep your money for longer. If you reinvest it into the business wisely, you could make a return that far exceeds the amount you’d save by buying upfront. That’s why many smart CEOs and business managers opt to borrow their equipment and pour all the resulting resources into expanding their company.

You Want to Get Started Now

Some companies who get a lease from us are startups that are opening their first office. Because it’s rare that such a business already has significant assets, they usually only have two options: get a loan and purchase equipment upfront or get a lease. As mentioned, the former option can be more expensive, particularly if you are not well-known yet and are therefore unlikely to get the most advantageous interest rate.

That’s why leasing could be a much better deal for you. There are many different types of leases offered, so you’re sure to find one that suits your individual needs. For example, you could postpone payments for the first few months, which gives you a chance to get set up and begin trading. Then, you can pay increasing amounts as your business expands and grows. This delayed payment can give you the boost you need to become successful.

You Want to Expand

We also work with mid-sized companies that are established in their community and are looking to branch out. You may increase your office space, set up a new branch somewhere else, or break into a new market. These changes become accessible to you with a leasing program, and you can grow your operations much faster than you could if you had to use your own money to purchase everything.

You Need Equipment for a Short Time Period

Not every office and workspace is permanent. At some point, you might have to set up a temporary space as you work on a particular project or complete an assignment. It makes no sense for you to purchase all the equipment needed for this, especially as you won’t be able to sell it on for much money once it has been used. In such a situation, leasing is the most attractive option because you can avoid a large expense that doesn’t serve your business.

You Need the Newest Equipment

New products come on the market regularly, and leasing can help you remain flexible in what items you use. When one of your tools becomes available in an updated form, you can switch to the newer version as soon as your current lease is up. In this way, your business remains on the cutting edge and attracts more customers because you have embraced leasing.

Business equipment leasing is a great strategy used by many successful small and mid-sized companies. Whether you are looking to set up for the first time or expand an established company, you can access the items you need without having to deal with a large upfront cost. Instead, you can spread out payments over many months or even years and therefore reinvest more money into growing your business.

We offer a wide range of equipment that can suit many businesses. For example, you can lease electrical devices needed for a restaurant, security equipment, office furniture and tools, and software. When your lease is up, you can give your items back, purchase them, or upgrade to a newer version. Call or message us now at Noreast Capital to find out more and to speak to one of our leasing experts. We can help you find the perfect deal.