Equipment Finance
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FINANCE AGENTS PRIVACY POLICY – A COMMITMENT TO YOUR PRIVACY
This site is owned and operated by Seven Lakeview, Inc (7LV). At 7LV, we want to make your experience online satisfying and safe. This privacy statement discloses what information we gather and how we use it.
INFORMATION FINANCE AGENTS GATHERS AND TRACKS
Seven Lakeview, Inc gathers two types of information about users:
Information that users provide through optional, voluntary submissions. These are voluntary submissions to participate in our blogging site, to participate in our message boards or forums, or to gain additional information about our products and services.
Information 7LV gathers through aggregated tracking information derived mainly by tallying page views throughout our sites. This information allows us to better tailor our content to readers’ needs and to help our Marketing Division better understand the demographics of our audience. Because 7LV derives its revenue mainly from the sales of its service packages your personal information will never be given to a third party unless the third party is a direct affiliate of 7LV and part of the processing team.
Seven Lakeview, Inc Gathers User Information In The Following Processes:
Optional Voluntary Information
We offer the following free services, which require some type of voluntary submission of personal information by users:
- Blogging
Users of the site’s blogging platform must register separately for these services (free of charge) in order to post blogs, although they needn’t register to visit the site. During registration, the user is required to choose a username, create a password, add an email address, agree to the Terms of Service, and choose whether they want a blogging website or just a user account.
Electronic newsletters policy (Dispatches)
We may offer a free electronic newsletter to users. Seven Lakeview gathers the email addresses of users who voluntarily open an account (i.e. a blog or username). Users may remove themselves from this mailing list by following the link provided in every newsletter that points users to the subscription management page. Users can also subscribe to the newsletters with any customer service representative or by emailing 7LV at info@FinanceAgents.com. - Surveys
Seven Lakeview may conduct user surveys to better target our content to our audience. We sometimes share the aggregated demographic information in these surveys with our affiliated partners. We never share any of this information about specific individuals with any third party. - Children
Consistent with the Federal Children’s Online Privacy Protection Act of 1998 (COPPA), we will never knowingly request personally identifiable information from anyone under the age of 13 without requesting parental consent.
Usage tracking: Seven Lakeview tracks user traffic patterns throughout all of our sites. However, we do not correlate this information with data about individual users. Seven Lakeview breaks down overall usage statistics according to a user’s domain name, browser type, and MIME type by reading this information from the browser string (information contained in every user’s browser). Seven Lakeview uses tracking information to determine which areas of our sites users like and don’t like based on traffic to those areas. We do not track what individual users read, but rather how well each page performs overall. This helps us continue to build a better service for you. - Cookies
We may place a text file called a “cookie” in the browser files of your computer. The cookie itself does not contain Personal Information although it will enable us to relate your use of this site to information that you have specifically and knowingly provided. The only personal information a cookie can contain is information you supply yourself. Seven Lakeview uses cookies to track user traffic patterns (as described above). Our advertising system delivers a one-time cookie to better track ad impressions and click rates. You can refuse cookies by turning them off in your browser. If you’ve set your browser to warn you before accepting cookies, you will receive the warning message with each cookie. You do not need to have cookies turned on to use this site. However, you do need cookies to participate actively in message boards, forums, polling, and surveys.
USE OF INFORMATION
Seven Lakeview uses information voluntarily given by our users to enhance their experience in our network of sites, whether to provide interactive or personalized elements on the sites or to better prepare future content based on the interests of our users.
As stated above, we use information that users voluntarily provide in order to send out electronic newsletters and to enable users to participate in surveys and blogs. We may send out newsletters to subscribers on a regular schedule, and occasionally send out special editions when we think subscribers might be particularly interested in something we are doing. Seven Lakeview never shares newsletter mailing lists with any third parties, including advertisers, sponsors, or partners.
When we use tracking information to determine which areas of our sites users like and don’t like based on traffic to those areas. We do not track what individual users read, but rather how well each page performs overall. This helps us continue to build a better service for you. We track search terms entered in the Search function as one of many measures of what interests our users.
Seven Lakeview creates aggregate reports on user demographics and traffic patterns for our own internal use. We will not disclose any information about any individual user except to comply with applicable law or valid legal process or to protect the personal safety of our users or the public.
SHARING OF THE INFORMATION
Seven Lakeview uses the above-described information to tailor our content to suit your needs and help us understand the demographics of our clients. This is essential to keeping our service free. We will not share information about individual users with third parties, except direct affiliates, to comply with applicable law or valid legal process or to protect the personal safety of our users or the public.
SECURITY
Seven Lakeview operates secure data networks protected by industry-standard firewall and password protection systems. Our security and privacy policies are periodically reviewed and enhanced as necessary and only authorized individuals have access to the information provided by our customers.
OPT-OUT POLICY
We give users options wherever necessary and practical. Such choices include:
Opting not to register to receive our electronic newsletters.
Opting not to participate in certain interactive areas such as the blog site, however, opting out does not change the collection of personal data. The personal data collected is necessary in order to make any payouts.
YOUR CONSENT
By using this site, you consent to the collection and use of this information by 7LV. If we decide to change our privacy policy, we will post those changes on this page so that you are always aware of what information we collect, how we use it, and under what circumstances we disclose it.
FINANCE AGENTS Advertisement Disclosure (last updated January 13, 2016):
Advertised Terms and Information
- The information and disclosures above relate to advertised terms made by or through Finance Agents.
- Interest rates and terms are from a lender or lenders with whom Finance Agents may match you and that offer the particular product. The disclosures are current as of the date indicated.
- Finance Agents is not a lender in any transaction and does not make loans, loan commitments or lock-rates. All credit decisions, including loan approval and the conditional rates and terms you are offered, are the responsibility of the participating lenders and will vary based upon your loan request, your particular financial situation, and criteria determined by the lenders to whom you are matched. Not all consumers will qualify for the advertised rates and terms.
- You may not be matched with the lender making a particular conditional loan offer, and Finance Agents does not guarantee that any lender will make you a conditional loan offer. Finance Agents arranges for multiple conditional loan offers through its network of nonaffiliated lenders.
- FICO score means the FICO credit score report that a lender receives from a consumer reporting agency.
- Finance Agents may request a credit report obtained by means of a soft credit inquiry. This report is only furnished with the consent of the consumer and is used to determine financial product pre-qualifcation. Finance Agents may share this furnished consumer credit report with its direct lenders only for means of pre-qualification.
- Finance Agents is an affiliate marketing firm and the company, its associated agents, and staff make a commission off of any financial product or service purchased from its associated lender(s).
- Telephone Consumer Protection Act (TCPA) has undergone changes as of October 16, 2013. Marketers are required to obtain your consent to receive phone calls by automatic dialers and/or to receive pre-recorded messages. While Finance Agents does not utilize such mechanisms at this time to contact leads, some of our Lenders/Partners may utilize such technology to communicate with you regarding your inquiry. Finance Agents does utilize automatic dialer and/or pre-rerecorded messages to communicate with its affiliates, lenders, and agents.
- By providing a phone number, you are giving express consent to receive return phone calls from Finance Agents, its Network Lenders, and/or partners who may contact you at the number(s) you provide. In addition, you are agreeing to receive calls and messages from automated dialing systems and/or by pre-recorded message, and text message(s) (where applicable) at the number(s) you provided. Normal cell phone charges may apply if you provide a cellular number. You may also elect to receive return calls by manually dialed process, email, or other preferred method of contact.
- Using the Finance Agents’s Prequalification Offers Product does not guarantee consumers will get an advance, loan, line of credit, rollover, SBA 7(a)/504(b), or any other financial product presently offered by Finance Agents and/or its Lenders. Rather, a prequalification is a lender’s estimate of how much you could be eligible to borrow based on information you supply directly to the lender. Finance Agents offers this service for free and you may obtain multiple prequalification letters from lenders so you can shop for the right financial program for you.
The pre-qualification you receive is based upon preliminary unverified information, which although deemed to be reliable, is not guaranteed to be correct. A final decision cannot be made until a complete application and supporting documentation is received and verified by the lender. Your prequalification letter does not guarantee approval, nor is it an offer or commitment, it is merely a snapshot of what may be possible. Product and services may not be available in all states.
While there are numerous factors that can impact an individual’s credit score, your personal score page provides you with six factors that may be impacting your overall credit score. It is these factors that create your VantageScore®:
- Payment history – Have you consistently paid your accounts in a timely manner?
- Utilization – How much of your total credit available are you currently using?
- Balances – What is the total of your current and delinquent account balances?
- Depth of credit – How long is your credit history and is there a varied mix of credit types?
- Recent credit – How many recently opened credit accounts and credit inquiries do you have?
- Available credit – What is the total amount of credit that you currently have access to?
- VantageScore® is based primarily on a 24-month review of your credit report. Your credit report has information – such as your history of payment punctuality, the total amount of your available credit, the total amount and type of debt you have, the number of open and active accounts, and the longevity of your relationships with creditors all of which impact your overall score. Your score may vary by bureau and that provided by FICO®.
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FINANCE AGENTS PRIVACY POLICY – A COMMITMENT TO YOUR PRIVACY
This site is owned and operated by Finance Agents. Your privacy on the Internet is of the utmost importance to us. At Finance Agents, we want to make your experience online satisfying and safe.
Because we gather certain types of information about our users, we feel you should fully understand our policy and the terms and conditions surrounding the capture and use of that information. This privacy statement discloses what information we gather and how we use it.
INFORMATION FINANCE AGENTS GATHERS AND TRACKS
Finance Agents gathers two types of information about users:
Information that users provide through optional, voluntary submissions. These are voluntary submissions to participate in our blogging site, to participate in our message boards or forums, or to gain additional information about our products and services.
Information Finance Agents gathers through aggregated tracking information derived mainly by tallying page views throughout our sites. This information allows us to better tailor our content to readers’ needs and to help our Marketing Division better understand the demographics of our audience. Because Finance Agents derives its revenue mainly from the sales of its service packages your personal information will never be given to a third party unless the third party is a direct affiliate of Finance Agents and part of the processing team.
Finance Agents Gathers User Information In The Following Processes:
Optional Voluntary Information
We offer the following free services, which require some type of voluntary submission of personal information by users:
Blogging: Users of the site’s blogging platform must register separately for these services (free of charge) in order to post blogs, although they needn’t register to visit the site. During registration the user is required to choose a username, create a password, add an email address, agree to the Terms of Service, and choose whether they want a blogging website or just a user account.
Electronic newsletters policy (Dispatches)
We may offer a free electronic newsletter to users in the near future. Finance Agents gathers the email addresses of users who voluntarily open an account (i.e. a blog or username). Users may remove themselves from this mailing list by following the link provided in every newsletter that points users to the subscription management page. Users can also subscribe to the newsletters with any customer service representative or by emailing Finance Agents at info@FinanceAgents.com.
Surveys: Finance Agents may occasionally conduct user surveys to better target our content to our audience. We sometimes share the aggregated demographic information in these surveys with our affiliated partners. We never share any of this information about specific individuals with any third party.
Children: Consistent with the Federal Children’s Online Privacy Protection Act of 1998 (COPPA), we will never knowingly request personally identifiable information from anyone under the age of 13 without requesting parental consent.
Usage tracking Finance Agents tracks user traffic patterns throughout all of our sites. However, we do not correlate this information with data about individual users. Finance Agents does break down overall usage statistics according to a user’s domain name, browser type, and MIME type by reading this information from the browser string (information contained in every user’s browser).
Finance Agents uses tracking information to determine which areas of our sites users like and don’t like based on traffic to those areas. We do not track what individual users read, but rather how well each page performs overall. This helps us continue to build a better service for you.
Cookies: We may place a text file called a “cookie” in the browser files of your computer. The cookie itself does not contain Personal Information although it will enable us to relate your use of this site to information that you have specifically and knowingly provided. But the only personal information a cookie can contain is information you supply yourself. A cookie can’t read data off your hard disk or read cookie files created by other sites. Finance Agents uses cookies to track user traffic patterns (as described above). Our advertising system delivers a one-time cookie to better track ad impressions and click rates. You can refuse cookies by turning them off in your browser. If you’ve set your browser to warn you before accepting cookies, you will receive the warning message with each cookie. You do not need to have cookies turned on to use this site. However, you do need cookies to participate actively in message boards, forums, polling and surveys.
USE OF INFORMATION
Finance Agents uses any information voluntarily given by our users to enhance their experience in our network of sites, whether to provide interactive or personalized elements on the sites or to better prepare future content based on the interests of our users.
As stated above, we use information that users voluntarily provide in order to send out electronic newsletters and to enable users to participate in surveys, and blogs. We may send out newsletters to subscribers on a regular schedule, and occasionally send out special editions when we think subscribers might be particularly interested in something we are doing. Finance Agents never shares newsletter mailing lists with any third parties, including advertisers, sponsors or partners.
When we use tracking information to determine which areas of our sites users like and don’t like based on traffic to those areas. We do not track what individual users read, but rather how well each page performs overall. This helps us continue to build a better service for you. We track search terms entered in Search function as one of many measures of what interests our users. But we don’t track which terms a particular user enters.
Finance Agents creates aggregate reports on user demographics and traffic patterns for our own internal use. We will not disclose any information about any individual user except to comply with applicable law or valid legal process or to protect the personal safety of our users or the public.
SHARING OF THE INFORMATION
Finance Agents uses the above-described information to tailor our content to suit your needs and help us understand the demographics of our clients. This is essential to keeping our service free. We will not share information about individual users with any third party, except to comply with applicable law or valid legal process or to protect the personal safety of our users or the public.
SECURITY
Finance Agents operates secure data networks protected by industry standard firewall and password protection systems. Our security and privacy policies are periodically reviewed and enhanced as necessary and only authorized individuals have access to the information provided by our customers.
OPT-OUT POLICY
We give users options wherever necessary and practical. Such choices include:
Opting not to register to receive our electronic newsletters.
Opting not to participate in certain interactive areas such as the blog site, however opting out does not change the collection of personal data. The personal data collected is necessary in order to make any payouts.
YOUR CONSENT
By using this site, you consent to the collection and use of this information by Finance Agents. If we decide to change our privacy policy, we will post those changes on this page so that you are always aware of what information we collect, how we use it, and under what circumstances we disclose it.
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Frequently Asked Questions:
Equipment Finance
What Types Of Equipment Are Eligible For Lease Financing?
Business lease financing can be used to fund a wide range of equipment and assets, including:
- Manufacturing equipment
- Medical equipment
- Office equipment, such as computers and printers
- Construction equipment
- Farming and agricultural equipment
- Transportation and commercial vehicles
- Restaurant and food service equipment
- Retail equipment, such as point-of-sale systems and displays
- Fitness equipment
- Printing and graphic arts equipment.
This is not an exhaustive list. Different leasing companies may have different eligibility criteria. This is how we help. We know which companies work with which industries, credit, and time in business.
What Are The Terms And Interest Rates Associated With An Equipment Lease?
The terms and interest rates associated with a business equipment lease can vary depending on a variety of factors, such as:
- The equipment being leased
- The length of the lease term
- The creditworthiness of the borrower
- The leasing company’s policies and practices.
In general, equipment leases can range from one to ten years in length, and interest rates can range from 4% to 30% depending on the factors mentioned above. When considering the cost of an equipment lease, it’s important to take into account all the fees associated with the lease, such as the origination fee, documentation fee, and any other charges. We help you compare lease terms and rates from different leasing companies to find the best deal for your business.
What Is The Length Of The Lease Term And Can It Be Extended Or Shortened?
The length of a business equipment lease term can vary depending on the type of equipment being leased, the leasing company’s policies, and the needs of the borrower. Typically, equipment leases can range from one to ten years in length, but some leases may be shorter or longer depending on the specific circumstances.
In general, the length of the lease term is determined by the useful life of the equipment being leased. For example, if you are leasing a piece of machinery that is expected to last for five years, the lease term may be set at five years. However, some leasing companies may offer shorter or longer lease terms to accommodate the needs of the borrower.
It may be possible to extend or shorten the lease term depending on the terms of the lease agreement and the leasing company’s policies. Some leases may include options to renew the lease for an additional period of time, while others may allow the borrower to terminate the lease early with a penalty fee. What are the different lease options available, such as a capital lease or an operating lease?
- Finance lease: This type of lease allows the lessee to use the equipment for the term of the lease in exchange for regular payments. At the end of the lease, the lessee may have the option to purchase the equipment.
- Operating lease: An operating lease is a shorter-term lease that allows the lessee to use the equipment for a specific period, typically less than the useful life of the equipment. At the end of the lease, the equipment is returned to the lessor.
- Sale and leaseback: This type of lease allows the lessee to sell the equipment they already own to a lessor and then lease it back from the lessor. This can provide the lessee with immediate cash flow while still allowing them to use the equipment.
- Master lease: A master lease is an agreement that covers multiple assets or equipment leases over a period of time. This can be a more efficient way for businesses to manage their equipment needs and lease agreements.
- TRAC lease: A TRAC (Terminal Rental Adjustment Clause) lease is a type of lease commonly used for commercial vehicles. It allows the lessee to have more control over the equipment at the end of the lease term by providing an option to purchase the equipment at a predetermined price.
- Capital Lease: A capital lease is similar to a loan, and the lessee (the business) takes ownership of the equipment at the end of the lease term. With a capital lease, the business usually makes a down payment and then makes monthly payments that include interest and principal. At the end of the lease term, the business can usually purchase the equipment for a nominal amount, such as $1.
What Are The Tax Implications Of Leasing Equipment Versus Buying It Outright?
Leasing equipment and buying it outright have different tax implications. In general, leasing equipment can offer tax benefits to businesses. Here are some of the tax implications of leasing equipment:
- Lease payments are tax-deductible: Lease payments are considered a business expense and are tax-deductible, reducing the taxable income of the business.
- No depreciation: When a business buys equipment outright, it must depreciate the asset over its useful life, which reduces the value of the asset on the balance sheet. With a lease, the lessor takes on the responsibility of depreciation, which allows the lessee to keep the value of the equipment on the balance sheet.
- Sales tax savings: In some states, businesses that lease equipment can save money on sales tax. Instead of paying sales tax on the full value of the equipment upfront, the lessee pays sales tax on the monthly lease payments.
- Flexibility: Leasing equipment allows businesses to upgrade to newer or more advanced equipment at the end of the lease term, which can help them stay competitive.
However, there are also some drawbacks to leasing equipment. For example, leasing equipment can be more expensive in the long run, and the business does not own the equipment at the end of the lease term. Ultimately, businesses should weigh the pros and cons of leasing versus buying to determine which option is best for them. It is also important to consult with a tax professional to understand the specific tax implications for their business.
What Kind Of Credit Score And Financial History Is Required To Qualify For An Equipment Lease?
The credit score and financial history required to qualify for an equipment lease vary depending on the lender and the specific lease agreement. Generally, a credit score of 600 or above is considered good enough for an equipment lease. However, some lenders may require a higher credit score or a more extensive financial history to approve an application.
Additionally, lenders may consider other factors such as the length of time the business has been in operation, its revenue and cash flow, and the value and useful life of the equipment being leased. Some lenders may also require a down payment or a personal guarantee from the business owner.
We work with a variety of lenders to shorten your time for funding and help you get the best rate possible.
What Kind Of Insurance Coverage Is Needed For Leased Equipment?
Typically, the lessor (the company or entity providing the equipment lease) will require the lessee (the business leasing the equipment) to have insurance coverage for the leased equipment. The specific insurance requirements may vary depending on the lessor and the type of equipment being leased. However, common insurance requirements for leased equipment may include general liability insurance, property insurance, and equipment-specific insurance.
What Happens At The End Of The Lease Term? Can The Equipment Be Purchased, Returned, Or Renewed?
At the end of the lease term, the lessee typically has several options depending on the terms of the lease agreement. One option is to purchase the equipment for its fair market value, which is often specified in the lease agreement. Another option is to renew the lease for an additional term, either with the same or updated equipment. A third option is to return the equipment to the lessor and end the lease.
What Kind Of Maintenance And Repair Responsibilities Does The Lessee Have For The Equipment During The Lease Term?
Typically, the lessee is responsible for maintaining and repairing the leased equipment during the lease term. This includes regular maintenance, such as oil changes and inspections, as well as any necessary repairs or replacements. It’s important to carefully review the lease agreement to understand the specific maintenance and repair responsibilities outlined in the contract. In some cases, the lessor may offer maintenance or repair services for an additional fee.
What Are The Potential Penalties Or Fees Associated With Breaking A Lease Agreement Early?
Breaking a lease agreement early can result in penalties or fees, depending on the terms of the lease agreement. These penalties or fees may include:
- Early termination fees: Many lease agreements include an early termination clause that requires the lessee to pay a penalty for terminating the lease before the end of the agreed-upon term. The amount of the early termination fee may vary depending on the length of the remaining lease term and the value of the leased equipment.
- Loss of security deposit: The lease agreement may require the lessee to pay a security deposit at the start of the lease term. If the lessee breaks the lease agreement early, they may forfeit their security deposit.
- Remaining lease payments: The lessee may be required to pay the remaining lease payments for the entire lease term, even if they no longer have possession of the equipment.
- Legal fees: If the lessor takes legal action against the lessee to collect any outstanding lease payments or fees, the lessee may be responsible for paying any associated legal fees.