Leasing is Good Business
Business owners
today are faced with many challenges and a considerable amount of their time focused on projects that are necessary to keep
their facilities modern. These projects can involve various types of building infrastructure renovations and leasehold improvements.
Often the total investment of all the projects combined exceeds the internal capital available to fund them. Trane Leasing Services
provides creative financing solutions to business owners that allow these projects to move forward without
depleting existing working capital. We specialize in providing financing solutions for projects that are often difficult
to finance, such as but not limited to HVAC, refrigeration projects and interior renovations just to name a few. All
of Trane Leasing Services’ products and services are now available to business owners online via www.traneleasing.com. Let us show you how Trane Leasing Services can
become your business partner!
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Benefits
of Leasing • Does
not reduce valuable business credit lines. •
Does not reduce large amounts of operating cash. • Allows you to spread the cost of the entire system over the lease term. • Can provide fixed or variable payments. • Offers flexibility in structuring: two- or seven-year terms
and monthly, quarterly, semiannual, or annual payment schedules. • Offers flexibility to accommodate seasonal periods or sales peaks with "step-up"
or "step-down" options. •
Allows for later upgrades or additions of equipment to the lease. • Offers an option for start-ups and new businesses.
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Common Questions
Who qualifies for leasing?
Any
commercial entity may apply for lease financing.
What can be financed?
Trane Leasing specializes in commercial HVAC financing.
However, other commercial products are able to be financed.
What is the lease secured to?
The
lease is secured to the equipment that you finance, in most cases.
What is the minimum transaction?
Typically, a lease can be done as low as $2,000. However, this is determined on a case-by-case basis.
Can
we do structured leases?
Trane Leasing can structure a lease to fit most needs.
Does
the monthly payment include tax?
The payment quoted will not include any applicable taxes. Tax will be
added to your payment on a monthly basis according to the state laws. If you are tax exempt, fax a copy of the certificate
with your application.
Is there money due up front?
Generally, two payments are required
to start the lease.
Will payments change during the financing period?
The monthly payments
are fixed for the term of the lease unless a special lease structure is pre-arranged.
Is insurance needed
on the equipment?
Yes, you are responsible for insuring the equipment. Usually, covering financed equipment
does not increase insurance premiums on an existing property insurance policy.
What happens at the end
of the leasing term?
The equipment is purchased for $1 after all scheduled lease payments are made. Other
types of leases are available upon request.
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Seven Steps to a Successful Lease
1. A monthly payment should be quoted to you
by your Contractor. If you have not been quoted a payment, contact your Contractor.
2. Trane Leasing
requires a signed Lease Credit Application if you are ready to proceed with the lease. Fax the completed, signed application
with the job proposal to 1-877-331-3665.
3. Additional paperwork may be required. If the lease amount
is over $75,000, two years of financials may be requested along with any other documentation. (Not-for-profit or religious
entities must complete a Not-For-Profit/Religious Organization Questionnaire. Call Trane Leasing at 1-800-724-6026
to request the questionnaire.)
4. A credit underwriter will review your application. Typically you
should receive a response within 24 hours with an acceptance, denial, or request for additional information.
5.
A lease agreement will be sent for execution following approvals. Upon receipt of the properly executed documents, advance
payment and documentation fee (if required), a purchase order will be issued to your Contractor. This serves as notice
to proceed with installation.
6. Upon completion of the project, the Contractor will submit an invoice.
After review, you will be called to verbally verify equipment acceptance.
7. After the verbal approval, a
check will be sent to your Contractor within 48 hours. The check will be sent via overnight service.
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