group of business people gathered around a table - is the difference between a bank loan and a lease? A loan is the borrowing of money, while a lease is term debt used for specific equipment utilized by a business.
Bank Loans:
  • Rates are usually floating based on prime
  • Banks generally lend only a portion of the equipment cost (60%-80%)
  • Banks will use fees to boost their rates (originating fees, etc.)
  • Banks are less flexible than a lease company & will need a full financing package
  • Rates are fixed for the term of the lease, allowing customers to budget cash flow
  • Is 100% financing (including all soft costs, like shipping & installation)
  • Most applications fall under our “application only program
  • We do not require a financing package
Send me an email for a free copy of your Dun & Bradstreet report

Barbara Griffith, PresidentSCL Equipment Finance provides equipment financing nationwide and in Canada to businesses from $10,000-$5M. Contact me for a quote on your next equipment/software purchase (new or used)! 

Barbara Griffith
714-573-9804 ext.101