A lease is a contract in which the owner of an asset (the lessor) grants use of the asset to another party (the lessee) for a specified period of time at a predetermined monthly rate. Almost any type of equipment can be leased. You select the equipment or furniture you need by working with dealers or manufacturers. Once you determine the type and configuration of the furniture, equipment, software, etc., and you have established your cost, then you should contact Integrity Leasing and Financing, Inc. and together we will determine the best options to acquire the equipment. You may lease one piece of equipment or several different types of equipment on a single lease.

By signing a lease, you assign its purchase rights to the lessor, who then buys the equipment as specified by you. When the equipment is delivered, you make sure it meets all the specifications and then you sign a formal acceptance and give the verbal authorization. The lessor then pays the dealer(s) for the equipment, furniture, software, etc., and the lease commences. You'll find leasing relatively simple: it is a rental agreement structured to meet your company's special needs. You and the lessor can determine the most effective type of lease for your company by considering: what you intend to do with the equipment at the end of the lease; your tax situation; your cash flow; and your company's specific needs as they relate to future growth.

Your needs will determine how to structure what happens at the end of the lease. Multiple options are available and include: purchase for a dollar, purchase for a 10% buyout, return the equipment to the lessor, purchase for the Fair Market Value, or simply continue to lease for as long as you need that equipment.