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We Offer Various Types of Equipment, Truck & Trailer Financing Programs

They Depend Upon Credit, Asset Type & Residual Amount
 

Equipment Finance Agreements (EFA) are fixed-term loans with equal monthly payments with no residual, where the borrower is the owner of the equipment and the lender has a security interest in the equipment. The borrower deducts as a business expense both the depreciation on the equipment and the interest portion of the monthly payment. 

TRAC Leases are used for financing Only Titled Equipment - qualified Trucks and Truck Trailers with residuals from 10% to 20%. Lease payments are expensed. The asset is not added to lessee’s balance sheet.
First Amendment Leases are used for financing Non-Titled Equipment with residuals from 10% to 20%. Lease payments are expensed for tax purposes.

Capital Leases are used for financing Any Equipment with a residual that is $1.00 or $101.00. Lease considered as a loan for accounting purposes. Lessee is treated as owner for tax depreciation purposes.