1. Simplify Implementation
Equipment upgrades and replacements are inevitable. Identifying potential financing providers, soliciting proposals, conducting due diligence, and analyzing financing terms for each and every project is too time-consuming. Instead, many tech companies choose a lease line of credit to save time and simplify their process. A lease line of credit is a pre-approved credit facility that can be used to fund various projects over a period of time. It eliminates the need to conduct due diligence on every project. Make one decision on a lease line rather than many decisions for many projects.
2. One Fixed Payment
Rather than paying for capital equipment with a large up-front investment and paying maintenance costs each year thereafter, a lease line allows companies to finance the entire solution by bundling all project costs into one easy monthly payment. Lease lines are typically set up for 12-18 months at a time and can be set up in advance of the project(s).
3. No Fees
A lease line gives you the freedom to use as much or as little as you need. With First American’s lease line product, you will never pay any under- or non-utilization fees. Your lease line will be there to cover any equipment, software, service, or build-out projects that you are planning throughout the year. Learn more: www.fatechnologyfinance.com/leaseline