Equipment leases are generally categorized into two groups, operating leases or capital leases, which are structured similarly to a loan. This article will explain the differences between the main types of equipment leasing and help you decide which type of equipment lease might be best for your small business.How Does Equipment Leasing Work?

Why you should consider EQUIPMENT LEASING for your business...
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In simple terms, equipment leasing has some similarities to an equipment loan, however, it’s the lender that buys the equipment and then leases (rents) it back to you for a flat monthly fee. Most equipment leases come at a fixed interest rate and fixed term to keep those payments the same every month. Rates can vary depending upon the leasing company and your credit profile (anywhere between high single digits and 30% or more), so it makes a lot of sense to shop around before you commit. At the end of the predetermined lease term, depending upon the lease, the business owner may be able to purchase the equipment at fair market value, or a predetermined amount—sometimes for as little as $1.Leasing may be attractive to business owner who needs equipment that becomes outdated quickly, or is expected to suffer a lot of wear and tear over the course of its useful life, because it allows the business to regularly update equipment at the end of the lease term.If you’re looking for an equipment lease for new or used equipment, the team at Millennium Millionaire Mindset is ready to help. If you have a credit score of 600+ and have 5% for a down payment, you can apply for a low rate loan of up to $250K.