terms from 12 months to 60 months
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*Please be aware that the information does not represent an approval to your financing request. A final decision for the requested quote – amount, rate and term – will be determined by LCA’s review of your business, including credit worthiness, as well as other requirements set forth by the LCA Credit Department.
A lease or EFA is a contractual agreement between two parties whereby the lessor or secured creditor allows the lessee or debtor to use the equipment for a specific period of time in exchange for a series of payments.
There are three parties involved in a lease or EFA transaction:
Lessee or Debtor:
Lessor Secured Creditor:
Step One: Vendor proposes a lease solution to acquire necessary equipment and customer accepts
Step Two: Vendor has lessee complete a credit application and submits to LCA
Step Three: LCA performs credit review on lessee or debtor
Step Four: If approved, customer completes all necessary finance documents
Step Five: LCA receives all necessary finance documents and approves delivery of equipment
Step Six: Equipment is delivered and accepted by lessee or debtor
Step Seven: LCA pays for the equipment and commences the lease or EFA