Financing Programs And General Guidelines

Empire has many solutions for your financing needs. We realize every customer has a different need and credits profiles may vary. To avoid unnecessary credit inquiries we encourage all customers to call for a free consultation.

Customers with several years in business and good credit.*

		Rates starting at 8%
		Minimal down payment, if any
		Up to 60 month terms
		Used equipment up to 15 years old

Customers with minimal time in business and/or challenged credit.*

		Rates starting at 11%
		10%-30% down payment and/or additional collateral
		Up to 48 month terms
		Used equipment up to 10 years old

    * Not all customers will qualify for financing.

Straight Financing

A loan in which the principal as well as the interest is payable in monthly or other periodic Installments over the term of the loan.

Leasing Programs

$1.00 Buy Out

Choose this option if you want to pay for the full amount of the equipment over the term of the lease. At the end of the lease, you will pay $1.00 and own the equipment. Interest expense and depreciation may be deducted for tax purposes.

10% or 20% Put

A Purchase Upon Termination (PUT) is a popular option that allows you to have a lower monthly payment by moving 10% or 20% of the original value to the end of the lease term. At the end of your lease you can purchase the equipment for the residual amount.

TERMINAL RENTAL ADJUSTMENT CLAUSE OR TRAC LEASE

This lease allows for a residual, that ordinarily might be considered nominal to be declared at the lease inception. This provision in the tax law provides for the Lessor and Lessee to agree on a residual amount that is disclosed in the lease documents. This allows the Lessor to use the depreciation and pass a lower cost to the Lessee, who can deduct their lease payments from their taxes. The TRAC Lease works similar to a loan with a balloon payment, with the added flexibility of a lease. The cost is generally much lower than fixed rate financing, because of the Lessor value to the depreciation. In addition to a lower overall cost, the Lessee can expense their payment from their income. With this type of lease the payment may be 100% tax deductible and may be treated off-balance sheet for accounting purposes.

*Consult your tax accountant for your specific tax situation.