you need equipment, we have financing and leasing solutions

For transactions up to $250,000, only a one page application is required. For transactions over $250,000, two-years of company financials and current interims often satisfy our credit review.

All new and pre-owned equipment, software, installation charges, delivery charges, tooling and training can be included in your lease or financing. Peripheral equipment can also be included (i.e. dust collection systems).

With leasing and equipment finance, a customer pays to use the equipment rather than to own it. “Lease rates” (or rate factors) vary depending on the structure, equipment type, and term. It is not typical to disclose lease rates in the commercial leasing industry. Rates on equipment term loans are fully disclosed.

Yes. No payment is made to the equipment vendor until you have provided authorization and verbally confirmed to First Financial Equipment Finance that you authorize payment to the vendor.

Our dedicated team can customize lease programs and structures that address individual business and cash flow needs while providing a fast turn-around of credit, documentation, and funding.

A documentation fee of $500-$2,500 is due along with the first payment at closing. As with a loan, your customer, the borrower, is responsible for any tax associated with the purchase or use of the equipment. This includes sales, usage, and personal property tax. Any taxes paid on behalf of the borrower may contain a small processing fee.

Payments are prorated and due on the first of the month. Invoices start on the acceptance date and bill monthly through the end of lease term.

Leasing or financing can provide a more rapid write-off because the lease term is often shorter than the depreciable life of the equipment, and the monthly payments are often 100% tax deductible as a pre-tax business expense. Consult your tax advisor for specific information. For the most up-to-date information, go to www.irs.gov.^*

*Note that First Financial Bank cannot provide specific financial, accounting or legal advice. 

Section 179 of the IRS tax code currently allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. It’s an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves.^*

*Note that First Financial Bank cannot provide specific financial, accounting or legal advice.