Is Leasing A Good Option For Air Duct Cleaning Contractors?
Posted by Peter Haugen on Mon, Oct 17, 2011 @ 01:38 PM
Air duct cleaning contractors require equipment in order to operate their business. Usually a contractor will use internally generated cash flow, operating credit lines from their bank, bank loans, credit cards, or leasing as the funding source for their air duct cleaning equipment purchases. In today’s economy with the tight banking credit, leasing can be a very attractive funding source for equipment purchasing. Why? Because leasing offers some unique advantages like:
- Leasing is pretty easy:
- You typically complete a 1 or 2 page application.
- You can normally get approved in a day.
- Leasing is flexible:
- You determine the length of your lease. Typically they are in the 3 to 5 year time frame.
- You can schedule in skip payments if you have a historically slow period or delay payments until the equipment begins to help you generate revenues.
- In most cases you can pay off the lease early if you want to.
- Leasing preserves your cash:
- It does not affect your bank line of credit.
- No large down payment is required like with a bank loan.
- In some cases the lease payment is tax deductible.
- In most cases the payment from one air duct cleaning project will be enough to make your monthly lease payment.
In addition to offering a wide selection of “field-proven” air duct cleaning products we offer leasing as one of our purchasing options. If you have any questions about leasing or equipment please contact Peter Haugen at 800-597-3955 or 952-808-1619.