eLease Equipment Financing Review

eLease Equipment Financing is a business financing offering by eLease, based in St. Petersburg, FL. Founded in 1995, eLease offers access to business loans in 50 states (and Washington, DC).

What are eLease Equipment Financing’s rates?

eLease Equipment Financing offers a business financing product that ranges from 4% APR up to 35% APR.

Does eLease Equipment Financing charge an origination fee?

Yes, eLease Equipment Financing charges a loan origination fee.

What limitations does eLease Equipment Financing set on the purpose of the loan?

eLease Equipment Financing considers loan applications for business purposes, such as:

• Equipment Purchase

What types of business loans does eLease Equipment Financing offer?

Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. eLease Equipment Financing provides access to the following business loan types:

• Secured Term Loans

Does eLease Equipment Financing charge prepayment fees?

Yes, eLease Equipment Financing charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a loan early.

How much can you borrow from eLease Equipment Financing?

Loan amounts start at $1,000 and go up to $500,000.

What is the maximum loan term you can get with eLease Equipment Financing?

eLease Equipment Financing offers business loans with terms ranging from 24 to 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for eLease Equipment Financing?

eLease Equipment Financing requires companies to be in business for at least 1 month Businesses don't have to meet a minimum annual revenue to be considered.

eLease Equipment Financing does not require or does not disclose a credit score minimum.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via eLease Equipment Financing. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by eLease Equipment Financing. Permanent resident / green card holders are also eligible to apply.