Who is Falcon Leasing?
Falcon Leasing is a national leasing company specializing in offering unique financing solutions to the software, vending, signs and other industries. Falcon Leasing, an affiliate of Falcon National Bank, has funded leases for businesses ranging from the small local retailer to the Fortune 500 corporation. With the financial strength to fund and service our own portfolio, Falcon also provides a broad network of banking relationships to syndicate lease applications meeting the widest range of credit requirements for our vendor's customers.
How long does the credit approval process take?
Transactions under $100,000: most transactions can be turned around within 1 business day after all information has been received.
Transactions $100,000 and up: most transactions can be approved within 2 - 3 business days after all information has been received.
How will Falcon Leasing handle Security Deposits?
Falcon Leasing will require a security deposit at the inception of the lease. These security deposits are non-interest bearing and will be returned after the final payment has been received and all terms and conditions of the agreement have been met.
Will Falcon leasing require additional collateral?
No, Falcon Leasing doesn't require additional collateral as most banks do. Based off your credit we will finance 100% of the equipment cost.
What happens to the equipment at the end of the lease?
You will always have an option to own your leased software, modules or equipment. Falcon Leasing will provide you with a purchase option of $1.00, 10% or fair market value at the time of signing your lease and we will help you make the best decision for you and your business.
What happens at the end of the lease?
That depends on the type of purchase option that you've chosen when you originate the lease. If you chose the $1.00 purchase option, then, provided all of the payments have been made and there is no outstanding balance, the software or equipment will be simply abandoned to you. If there is a purchase option (10%, FMV, etc.) then you will have the option to purchase the assets, continue to use the assets on a monthly basis or simply return it to Falcon Leasing.
Can the customer add more users, products or services?
We can simply add it to your current monthly invoice. A minimum of $5,000 will be required for each purchase.
Can I write this off as an operating expense?
Some leases can be written off as an operating expense but this is something that you should talk with your tax accountant to confirm your specific business situation.