Benefits of Equipment Leasing::
Broadmore’s simple leasing process for used or new equipment will help you quickly acquire
the equipment your business needs in order to function. Leasing your new or used equipment
can improve cash flow resulting in a much more effective operation.
Leasing offer the following advantages (Please consult your accountant):
Accounting & Tax Advantages
- Equipment lease payments can be deducted as business expenses, reducing the net cost
of your lease. Most leases will even allow you to write-off the full payment
You may expense lease payments instead of depreciating them as a capital cost. Debt to
Equity ratios are also unaffected because the equipment is kept off of the balance sheet.
With purchasing or financing the federal and provincial sales taxes must be paid upfront,
but with leasing the sales tax is spread over the term of your lease.
Better Cash flow Management
Usually large down payments are not required, so you can keep more money for other
What can be lease?
- Transportation Equipment
- Health Care
- Green Energy
- Hospitality Equipment
- Commercial Kitchen Equipments
- Many more…
To get started we require the followings:
- Download or complete our online application
- 2 pieces of IDs
- Last 2 years Financial statements (accountant prepared with Notice to reader) of company
- Equipment information
- Certificate of Incorporation
- Brief description of business
- 3-6 months business bank statement might be required
- More documents such as verification of home ownership etc. might be required.