Frequently Asked Questions of Beacon Financial

1.	How long does it take?
	Leasing is very quick. Request for up to $75,000 can be approved in any where form 2 to 24 hours from the time we receive a complete lease application.

2.	Are lease payments a tax write off?
	Typically the IRS will allow you to write off 100% of your lease payment on a True or FMV lease. Please check with an accountant for specific application to your business

3.	How long do I have to be in business?
	Most programs require a minimum of two years in business, however exceptions can be made. Beacon Financial, AC has new business programs available for businesses six months or less.

4.	Once I'm approved, what happens next?
	Once the credit application is approved, lease documents are delivered to you for your signature. When we have received the signed documents and you have accepted the equipment, we will make payment to the vendor.

5.	How will leasing affect my company's cash flow?
	In a word, positively. That’s because leasing usually offers lower monthly payments than other financing sources. Those lower payments can help you bring revenue and expenses tin to closer alignment. And because payments are fixed, you can forecast the future expenses more accurately and improve your budgeting process.

6.	Is a down payment required?
	Leasing is generally considered 100% financing, with two advance payments or as little as one.

7.	How are lease payments structured?
	There’s considerable flexibility in payment arrangements. While most lease provide for regular monthly payments, those payments may be made in advance, in arrears, or irregular intervals for seasonal businesses. Terms range from 24 to 60 months and can be customized to suit your company’s needs.

8.	Can I purchase the equipment I've leased?
	At the end of the lease term, you have three options: -You can return the equipment -You can purchase the equipment -You can continue to lease the equipment on a month-to-month basis.

9.	What is a "fair market value" purchase option?
	If you lease contains a “fair market value” purchase option, you can purchase the equipment at the end for the lease for its fair market value—the price at which the equipment you’ve leased would be sold by a willing seller and purchased by a willing buyer.

10.	What is a "dollar-out" purchase options?
	A dollar-out purchase option gives you the opportunity, at the end of the lease to purchase the equipment you’ve leased for $1.00.

11.	What is a “Purchase upon Termination” or “PUT”?
	“Purchase Upon Termination” is a type of lease in which you purchase the equipment for 10% of the original purchase cost at the end of the lease term.

12.	What vendors can I order from?
	A benefit of leasing form Beacon Financial is that you can purchase equipment from any reputable vendor of your choice. Select your equipment and options, negotiate your best price and let us do the rest.

13.	Who provides warranty coverage on the equipment?
	Beacon Financial passes through all manufacturer and vendor warranty coverage to you, the Lessee. Warranty claims are handled in the same way they would be if the Lessee was the owner of the equipment.

14.	Who insures the equipment?
	The Lessee is responsible for insuring the equipment against risk of loss including property and casualty coverage and liability. Lessees typically just add the equipment to their existing policy.

15.	Will you sell or share my information?
	Absolutely not! Beacon Financial uses your information to process and evaluate your application. We do not sell, rent, or disclose your information to any other company other that our bank or underwriting source.