Equipment Leasing Blog

Opportunities Abound - Seize the Day!

Tuesday, December 29, 2009

Work with Industry Leaders

Recently, a law firm that was moving their offices came to Tiger Leasing looking for an equipment lease for furniture and computer equipment. The law firm is a strong company and had a substantial line of credit in place with their local bank. Tiger was asked to quote a rate for the lease of office furniture and computer equipment, and the law firm told our team to "come up with the lowest rate because you are competing with our bank."

Thanks to our previous experience and knowledge of the field, we knew that the firm was probably commanding a rate of a point or two above prime. How could Tiger compete with a rate of 5% or possibly lower? Quite simply, we couldn't. We had to look outside of the box to come up with a creative solution. We presented what we could offer as a compliment to their bank line. Understanding the big picture, and having the experience to see what the law firm needed allowed us to come up with a plan.

The firm was going to incur heavy costs in the construction of their new space as well as in the acquisition of new equipment. With every conversation, the managing partner kept mentioning rate and Tiger Leasing kept focusing on the unforeseen costs that we've seen arise before in these situations, and the need for keeping their credit line available. Our work with similar clients in the past allowed us to recognize the issues the firm could run into in the future.

In the end, the managing partner decided that the low rate on his bank line was important but so was the need to keep some of his line available for future use. He used some available cash as well as part of his bank line to buy some of his equipment and engaged us to lease approximately 60% of his equipment budget. He realized that his "blended rate" - the average rate he was paying between his bank rate and my rate - was extremely competitive and he still had a comfortable cushion of bank borrowing available to him if he needed it in the future.

At Tiger Leasing, we have the experience to understand the big picture. Many people only look at the bottom line, or the initial price point, when in reality other factors need to be considered. Leasing allows companies like this law firm the ability to conserve their cash and working capital. Their resources are not all tied up in the equipment and construction purchases, so money will be available to them for unexpected setbacks, marketing, working capital, or other cash needs.

It is important to trust the people you do business with. Look for the industry leaders that will be able to look at your big picture and help you find the best solutions. When you're so focused on your company, it's good to have other professionals looking out for you as well. Research your options, understand your company's needs and limitations, and work with the companies that are leaders in their field.

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posted by Tiger Leasing @ 10:04 AM 0 Comments Links to this post

Wednesday, December 23, 2009

Tiger Leasing Equipment Lease Calculator

The Tiger Leasing Equipment Lease Calculator - LeaseCalc is a valuable tool for those looking to determine the approximate monthly payment on the equipment they are acquiring. While your actual monthly payment may be higher or lower than what is displayed on the equipment lease calculator due to credit score review or other factors, the Tiger Leasing Equipment Lease Calculator will give you an approximate monthly payment so you can begin to see how the equipment will fit into your budget.

Tiger Leasing offers step by step instructions on how to use the LeaseCalc so you can evaluate how equipment leasing can work for you. Equipment Leasing is a great alternative to purchasing the equipment you need to increase your profits. There are plenty of Benefits to Leasing. How would your company benefit from new equipment? Use the Tiger Leasing Equipment Lease Calculator - LeaseCalc and discover how much it would take to lease the equipment you need. For more precise information, you can always contact a Tiger Leasing representative by phone at (212) 791-2250 or by sending an email to info@tigerleasing.com.

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posted by Tiger Leasing @ 10:26 AM 0 Comments Links to this post

Monday, December 14, 2009

Grow Wisely

Companies need to be creative to increase their sales and their profits. The struggle most companies face is how to spend money wisely in order to generate an increase in future cash flows. Re-investing in your own company is crucial to your business. Figuring out how and where to spend the money most effectively can be a challenge. Tiger Leasing has put together some tips to help you grow wisely.

Budget Wisely -
Figure out how much you have, and how much you need to spend on the necessities in the near future before deciding how much you want to spend. Check out your loan and financing options. Know your limits, your credit score, and your D&B rating.

Choose Wisely -
After deciding how much you have, it's time to decide how to spend. Figuring out what your company needs is no easy task. You want the largest possible return on investment, and you want it as soon as possible. Do you need new computers, or a larger staff? Would new software help you be more efficient, or would it make more sense to buy new machinery? Whether you're looking to produce a new product, or to relocate to a new location, you have decisions to make. Brainstorm with others and decide which assets warrant your investment, and which you can do without. A new staff member may be a welcome addition, but what if you can do the work faster and easier with new technology, instead of having to hire, train, and pay a new person?

Research Wisely
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Once you've decided which resources to pursue, do your research. Don't just focus on getting the best deal in the sales room, look for other options. Did you know that leasing lets you conserve your cash by paying only for what you use? There are tax benefits for companies who lease as well. Use the LeaseCalc to figure out your monthly payments. Get all the information before committing to your investment.

Grow Wisely -
It isn't always easy to recognize what the best "next step" for your company is, but it's important to take the time to figure it out. With all the pressure to grow and expand to stay competitive, irrational decisions and purchases can do more harm than ever. Decide what you want to spend, what you need to grow, and research how to get what it is you need in a way that works best for you. You have more options than ever before, take advantage of them.

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posted by Tiger Leasing @ 12:16 PM 0 Comments Links to this post