FAQ’s – Frequently Asked Questions

Why should I use General Funding instead of bank financing?

Obtaining credit approval from General Funding is much simpler and faster than obtaining a bank loan. You worked hard obtaining a bank line of credir, save it for an economic down turn or a great business opportunity. And remember, banks usually require down payments. Leasing may also provide tax benefits not available through bank financing

How much of the equipment cost do you finance?

Generally 100%

What are your rates?

General Funding has been successful for over 30 years and this success flows from very competitive rates. Specific rates vary depending on the size of the transaction, the equipment and the credit stregnth of the customer. Call for a quote. You will be pleasantly surprised.

What kind of equipment can I lease?

Virtually any type of equipment used in business can be leased, including but not limited to, office, production, transportation, medical and retail equipment.

Are early payoffs possible?

Yes and usually at a significant discount.

Are there tax benefits to leasing?

Yes, a lease may be often expensed quite rapidly for tax purposes.

How long does it take to get approved?

Smaller transactions under $35,000 generally take one day or less. Larger transactions take a little longer.

What if I want to trade-up to new equipment?

This is a routine transaction for General Funding. We generally “fold” the prior lease balance into the lease for the new equipment.

Does that include older used equipment?

Yes, if the equipment is in good shape.

When equipment is leased, do I keep all manufacturers guarantees, warranties, and service agreements?

Yes. The same benefits as an outright purchase are extended. In fact, service contracts can be included in the initial lease package.