F.F. FISHER LEASING CORPORATION
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F.F. Fisher Leasing Corporation is a regional provider of
equipment leasing solutions to small businesses in North Dakota, South Dakota,
Minnesota, Wisconsin, Montana, Iowa, Nebraska and other states where our
Fargo-based relationships have expanded.
The Fisher Leasing organization is an experienced group of relationship-focused
leasing experts delivering exemplary customer service.
·
Founded in 1989
·
Serving over 5,500 clients
·
Experienced in over 50 business segments
·
Average lease term is 42 months and average transaction
size is $60,000
·
Transactions can range from $10,000 to over $1
million
·
Over 60% of originations are repeat clients
·
Average staff experience is over 25 years
·
Small-ticket commercial vehicle and equipment
leases and loans
·
Fleet management services
·
Agricultural and transportation equipment
specialists
·
Face-to-face sales relationship model
·
Primary sales footprint is a 500-mile radius of
Fargo, North Dakota
·
Strong business vehicle acquisition, lease
structuring and disposition services
·
Convenient and responsive, with timely
turnaround
·
Over 80% of businesses lease in the U.S. Good financial management requires companies
to look at financing alternatives to creatively expand borrowing capacity
and diversify
liquidity sources.
·
Leasing helps companies realize the economic
benefits and achieve financial flexibility not available through conventional
debt financing. Off-balance-sheet
financing can leverage capital for the business.
·
100% financing that includes up-fits, training,
installation and freight is available, helping the company maintain cash for
operating. Lower payments and longer terms improve liquidity.
·
Fixed payments structured to the company’s cash
flow helps planning and budgeting. Payments
can be expensed in the operating budget.
School & University
Leasing Programs
Colleges and Universities are looking at leasing their
assets as a valuable tool. Budgetary
constraints can prevent asset acquisition when they are needed. Beginning new programs and leasing the
critical equipment can provide affordable and tailored payments, versus large
capital expenditures. The ability to
spread payments out over a 3, 4 or 5-year term helps keep equipment and fleet
current. To help you compare our leasing
programs with traditional loans and cash purchases, please note the following:
Issue Leasing Traditional Loan Cash Purchase
Rate Lease
payments are Banks tend to lend
on a floating No impact other than the
Structure fixed
for the term of or variable basis. This places rate opportunity cost to reinvest funds
lease. on you. in
your business.
Soft Costs Leases
can incorporate Typically soft costs
are not More out of your cash
flow.
100%
of the transaction financed. You must use your
soft
costs (shipping, cash flow to
cover these costs.
taxes,
training, etc.)
Down Our
lease is typically You may be
asked to pay a Not
applicable.
Payment structured
with 1st down payment
of up to 25%.
payment
up front.
Compensating Not
required. May require
minimum deposit Not applicable.
Balances balances
and numerous
restrictive
loan covenants.
Restrictive Not
required. May include
demand clauses, Not applicable.
Covenants blanket
liens on all of your
business
assets, maintenance
of
certain financial ratios, and
restrictions
on future debt.
Revolving A lease
is fixed for Loan may be
classified as a Not
applicable.
Structure the
term of the revolving
loan and can be
lease. cancelled on
an annual basis.
Security Only the equipment May take a blanket lien on Not required. But purchased
Filing leased
by us is listed. all of your
business assets. assets
become secured assets
A
blanket lien may restrict in
favor of the bank, if a blanket
your
company from borrowing security
agreement is in effect.
in
the future.
Application Simple
process that Process can be
lengthy and Not applicable.
Process is
much quicker than intimidating. Loans can take
a
loan. up
to a month to fund.
Tax Depending
on the lease Loans make you the owner
of Limited to depreciation over
the
Implications structure,
the transaction the equipment. This limits the equipment’s useful life.
may
be 100% deductible. tax advantages to
depreciation
and
the interest expense.
1. Obtain Our Lease Proposal: After you determine your specific equipment
needs with your vendors, we can provide a lease proposal with terms and
payments tailored to your specific situation.
2. Submit Application: If you decide to proceed, return a completed
lease application, along with any requested financial information. For your University, that can include the
following:
a. Copy of an
Incumbency Certificate and Resolution authorizing the lease.
b. Copies of
your audited financial statements (last two years).
c. Copy of your
licensing approval from any regulatory oversight authority for your CDL
program.
3. Credit Review: Our credit decision is usually rendered with
48 hours of the information and application receipt.
4. Documentation: Once approved, lease documents are prepared
and emailed to you. The documents must
be executed by an authorized signor and returned to us.
5. Vehicle Ordering: Once
properly executed documents are received, we issue a Purchase Order to your vendor. You then coordinate delivery details with
your vendor.
6. Delivery and Acceptance: Upon our receipt of your vendors invoice(s),
we contact you for verification of delivery and acceptance. Once confirmed, the vendor(s) are paid and
your lease begins.
Things
to Consider When Comparing Proposals
Number of
Advance Payments. The
number of advance payments required (such as first and last) can affect your
interest rate. We only require one
upfront payment.
Are the
Payments Being Applied to the Term? True advance
payments are applied as payments. Some
companies hold the payment as a “Security Deposit”. This will increase your overall cost to
lease.
Make Sure
Your Payment Is Fixed and not adjusted at the last minute, based
on an “index.”
Understand
Your Purchase Option. If
you are told you will own the equipment at lease end, get it in writing and do
not rely on what was stated verbally.
Automatic
Renewal Clauses. Make
sure this clause does not appear in your lease documents. If you miss a deadline at lease end, the
lease will automatically renew for another year.
