How do I apply for a lease?
Applying for a loan at a bank can be time consuming and frustrating. At Granite Peak Financial it is as simple as filling out our online application, downloading an application off our website and faxing it in or simply calling one of our account representatives to take the application over the phone. From there we well do the rest. We will work up an initial payment quote for you in a matter of a few hours, have an approval set in 24 hours and will coordinate all invoicing and shipping arrangements with your vendor.

What are the up-front costs associated with a lease?
Typically we only require a first and last months' payment up-front plus a small one time processing / filing fee. If you are short on funds we have options that can push your first payment out 90 days or only require one payment up-front if need be. The payments you put up-front will go directly towards your lease balance. Rarely will we ever require any sort of down payment.

What kind of terms do you offer?
We can structure your commercial leasing needs to best fit your business needs. We provide two, three, four, and five year lease terms on most transactions as well as a range of buyout options. Application only transactions range from $3,000 to $150,000. The two most common buy out options are $1.00 buyout or the fair market value not to exceed 10% buyout. Are Granite Peak Financials rates competitive with my local bank? Equipment leasing and financing offers less hassle than bank financing while still offering competitive rates. At Granite Peak financial you can complete the lease/loan process quicker which means your equipment can start to work for you faster. GPF offers you a lease manager who will coordinate the details to help make sure your deal is completed in the timeframe needed while reviewing the strengths of your company to lock down the best rate possible.

What is your current rate?
Rates are based on a number of variables including equipment type, cost and the credit rating of the individual business customer. The best way to find out what rates are going to be for a desired piece of equipment is to contact a GPF representative and submit a quote for the equipment you wish to lease. Payment options can be worked up in a matter of a few hours.

Can I buy equipment from a private party?
Yes. We know that your best equipment option doesn't always come from a dealer. We will process an equipment lease on titled vehicles or hard collateral like a bull dozer or printing press from a private party.

Is there a pre-payment penalty?
No, there is no pre-payment penalty on any of our equipment leases. You can pay off your equipment lease at any time without penalties, although you may lose some of the write off benefits. For that reason we suggest you choose a term that best fits your expected cash follow. If you are going to pay the lease off early it will be much more advantageous for you to set the lease with a shorter term.

Are there tax benefits to equipment leasing?
The tax benefits of from equipment leasing can be extremely important to a business' cash flow. Depending on the type of lease you choose, you may create very beneficial tax advantages for your company. A sure way to verify these advantages is to speak to your Granite Peak Financial account manger to discuss your situation in detail.

Will this affect my personal credit?
This is one way your equipment lease will differ from a bank loan. Your equipment lease will not show as a trade line on your personal credit report as would the principal balance of a bank loan. It is possible that leaving this off your personal credit will increase your credit score and allow you better rates on future loans and leases.

What can I include in my equipment lease?
With most GPF equipment leases, you can include 'soft costs' such as delivery, training and installation in your total loan amount.