Q. Why should I lease through Velocity Micro instead of a bank?
Savvy customers who take the time and analyze their options usually select leasing as opposed to bank financing for the following reasons:

• Tax Benefits: Leasing lets you take advantage of tax benefits, saving up to 40 percent of the cost of the transaction. You should, of course, consult your tax advisor.
• Processing: Your application can be approved within hours, whereas banks can take weeks to do so.
• Down Payments: With leasing, you usually need only make the first and last payments, which are applied towards the lease. Most banks require you to make a down payment of up to 20 percent. Doing this ties up funds that could be used to grow your business.
• Restrictions: No restrictions are placed on your lease, whereas most banks only lease to their existing customers and require them to maintain a fixed amount of funds on deposit.
• Fixed Rates: Your lease rates and terms are fixed. There are no hidden costs or surprises during the term of the lease.
• Flexibility: "Soft costs" of your new equipment such as software, training, installation, and maintenance can be included in the lease.

Q. Are there tax advantages to leasing?
Typically the IRS will allow you to write off 100 percent of your lease payment on an FMV lease. Consult your accountant for specific applications to your business.

Q. What are your interest rates?
Several factors go into computing your interest rate. These include the term of the contract, the amount financed, type of equipment, and the credit history of the business and its primary owners. To obtain a pertinent interest rate, apply for leasing today.

Q. Can I get a variable rate lease?
No. Lease rates and terms are fixed.

Q. Can I pay my lease off early?
All leases can be paid off early with no penalty.

Q. Can I pre-pay my lease at anytime?
Yes.

Q. Does the equipment have to be new?
No. In fact, used equipment leased last year almost equaled the amount of new equipment.

Q. How long do I have to have been in business?
Two years is the typical requirement. Plans for younger companies, however, are available.

Q. How long does it take?
Leasing is quick. Requests for up to $250,000 can be approved usually within several hours. Documents are emailed to the customer and a purchase order is faxed to the vendor as soon as documents are received.

Q. Are there any documentation fees?
There is a nominal fee on each transaction. It is based on the type of equipment and state of residency.

Q. What is the buy out?
You have a variety of options available to you. These include FMV, $1 Buy Out, and Fixed Percentage Purchase Options. For more information, visit our types of leases page.

Q. What is the minimum lease request?
$1,000.