Leasing
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Our leasing process is very simple and straight forward. Our team is here to guide you through every step of the way. We'll have you using your new equipment in no time!
The Leasing Process
OBTAIN LEASE QUOTE
After determining your specific equipment needs with your vendor(s), the equipment quote(s) should be forwarded to a Macrolease sales representative. A lease proposal with terms and monthly payments will be prepared and sent to you, typically within the hour.
SUBMIT APPLICATION
If interested in moving forward, return a completed lease application along with any requested financial information. The application and list of requested financials (if any) will be included with your original lease proposal.
CREDIT REVIEW
A credit response is usually rendered within 24 hours of receipt of the application.
DOCUMENTATION
Once approved, lease documents will be prepared and emailed. Documents will need to be executed by an authorized signor and originals will need to be returned to Macrolease.
ORDER EQUIPMENT
Once properly executed documents are received, a purchase order will be issued to the equipment vendor(s). Customer and vendor should then coordinate delivery details.
DELIVERY & ACCEPTANCE
Upon our receipt of vendor invoice(s), we will contact you for verification of delivery and acceptance. Once confirmed, the vendor(s) will be paid and your lease will begin.
ENJOY YOUR NEW EQUIPMENT!
Leasing Options
$1 Purchase Option
At the end of the lease term, title to the equipment is transferred to the customer at no charge.
10% Purchase Option
At the end of the lease term, the lessee may purchase the equipment for 10% of the original purchase price. This option allows for lower monthly payments throughout the term.
Fair Market Value
At the end of the lease term, the lessee can purchase the equipment for its “Fair Market Value.” This option allows the customer to “expense” the monthly payments as a rental, and is considered “off balance sheet” financing. If the lessee elects not to purchase the equipment at the end of the lease term, they must return the equipment to the leasing company.
Lease End Residual
At the end of the lease term, customer has the responsibility of making the lease end payment. However, participating vendors reimburse the customer or make the payment directly, provided customer refreshes the leased equipment with same vendor. If the customer does not wish to refresh they make the lease end payment and keep or sell the equipment. This type of lease provides the lowest monthly payment and is an effective program for keeping state-of-the-art equipment in your facility.
Please consult a tax professional regarding which type of lease would be most beneficial to your specific situation.
Frequently Asked Questions
Here are a few questions that often come up during the leasing process. If you can’t find what you’re looking for here, don’t hesitate to get in touch!
When does my lease begin?
The lease begins when you receive and accept the equipment and authorize us to release payment to one or more of your vendors.
Is it possible to include equipment from more than one vendor?
Yes; many of our leases include multiple vendors.
Do you provide financing to start-up clubs/stores?
Yes; we are experienced in financing start-up ventures.
Is there a maximum or minimum lease amount?
Our leases range from $25,000 to $25,000,000.
Are your interest rates fixed or variable?
Our rates are fixed. The monthly payment you are quoted is the amount you will pay.
Are Personal Guarantees required?
Depending on the ownership structure of the company, personal guarantees may be required. Public entities, not-for-profits, building associations and/or real estate ventures will not require personal guarantees.
How long does it take to process a credit approval?
Typically within 24-48 hours of receiving a complete credit package.
How long are credit approvals valid?
120 days from approval date.
Will Macrolease finance tenant improvements or Leasehold Improvements?
Yes; in conjunction with equipment we can provide financing for tenant improvements.
Can I pay off a lease early?
Yes. You can pay off your loan at any time, but it is not recommended in the first year.
What are your financing terms?
We offer repayment terms from 12 months to 84 months, depending on collateral and creditworthiness.
Applying is easy.
Fill out some basic information to get the right equipment financing for your fitness club.
WE'RE HERE FOR YOU
Just give us a few details and we'll get right back to you
An asterisk (*) denotes a mandatory field. Please provide as much information as possible.