Bane-Clene® Carpet Cleaning Equipment Leasing Program

Para-Mount Truckmount Carpet Cleaning Machine that can be leased

Leasing Used & New Truck-Mount Carpet Cleaning Equipment from Bane-Clene

  • Many business owners are turning to leasing as an alternative to financing new truckmount carpet cleaning equipment. Once seen as a last resort in financing, many who can qualify for bank loans choose to work with leasing companies. A lease can offer definite tax advantages (check current IRS rules) and frees up working capital that is necessary for sales, inventory, payroll, tax payments and to purchase assets.
  • Capital needs can be classified as long or short term. Short term is generally less than a year with long term more than one year. Short term financing is most common for assets that turn over quickly such as accounts receivable or inventories. Long term financing is more often associated with fixed assets such as equipment and trucks that will be used for several years. Options for long term financing include bank loans, second mortgages (home equity loans) commercial loans, government guarantee loans (SBA) and lease programs.
  • Many Bane-Clene operators have taken advantage of our “Fair Market Value” program, which has monthly payments and a 10% purchase option at the end of the lease. Others have chosen the “Dollar Lease” program which has the option of higher monthly payments and buying the equipment for only $1 at the end of the lease.
  • The maximum lease period is five years. A company with a 12 month track record can negotiate a lease with only the first and last monthly payments as a cash outlay. New businesses may require an additional 10% security deposit. The paper work is minimal with leases up to $75,000.00 requiring only a one page application.
  • When deciding how to finance new Bane-Clene carpet cleaning equipment, whether you choose a conventional bank loan, a home equity loan, an SBA loan, commercial borrowing or a lease, keep in mind the specific needs of your business. Be sure to consider each plan’s potential pluses and pitfalls before you put your money - and someone else’s - on the line.

Some questions to ask yourself of any financing or leasing plan:

  • What is my borrowing power?
  • Is this the best use of my working capital?
  • How much of my cash-flow will be required up front?
  • Is using a personal asset (home) in my best interest long term?
  • Are payments based on fixed or adjustable rates?
  • Will financing cover the cost of installation, training and accessories?
  • What are the tax advantages and disadvantages?
  • What are the application requirements and costs?
  • Does the financial institution understand my business and my industry?
  • Am I jumping the gun by going into debt before my business is on a solid footing?

Equipment Financing Articles and Information:

Related Articles and Information:

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Published by: Bane-Clene® Corp.
 Copyright: Bane-Clene Corp.

Date Modified: October 22, 2018

Date Published: February 17, 2009