Why should I offer leasing to my customers?
Leasing emphasizes value, not price. Rather than negotiating on price you can sell your equipment based on the affordability of a monthly payment. Also leasing provides flexible payment plans to fit your customer’s cash flow needs.
Will it cost me anything to offer leasing to my customers?
No. In fact offering leasing will help you close more sales by gaining the ability to offer your customers affordable options to acquire your equipment.
Can the equipment that I am selling be leased?
Balboa provides equipment financing to vendors in many different industries and vertical markets. Almost any type of business equipment can be leased, including new or used equipment.
How do I determine if my customers are eligible to lease equipment?
Your customer must intend to use the equipment for essential business purposes. Also the lease amount must be a minimum of $2,000 and generally should have a max term of 60 months with the exception of certain types of equipment and credit profiles.
Is there any up front costs that my customers will have to pay?
A typical lease through Balboa would require from zero to two monthly payments up front.
Is leasing only for my customers who cannot borrow money at their bank or who have poor credit?
Definitely not, over 90% of the "Fortune 500" companies use leasing to finance their equipment needs. Leasing is a wise business decision for all business people, regardless of their company size or credit profile.
How do my customers apply for a lease through Balboa?
Our Account Executives will be your single point of contact throughout the financing process. Your customer can simply submit an application over the phone, fax, e-mail or online.
Who prepares the lease agreement?
After the application has been approved, your Account Executive will notify your customer and finalize the details of the transaction. We will then prepare the documents and send them directly to your customer via e-mail
Does Balboa provide any upfront funding – “prefunding”?
Yes, we structure payment of invoices according to the vendor’s needs.
When does the vendor get paid?
Once Balboa is in receipt of the signed documents, advance rent, documentation fee, vendor's invoice and verbal verification by the customer, we will ACH the invoiced amount to the vendor.