eLease Equipment Financing Review

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

What are eLease’s rates?

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

Does eLease charge an origination fee?

Yes, eLease charges a loan origination fee.

What limitations does eLease set on the purpose of the business loan?

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

• Equipment Purchase

What types of small business loans does eLease offer?

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

• Secured Term Business Loans

Does eLease charge prepayment fees?

Yes, eLease charges additional fees to borrowers who pay off their small business 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 business loan early.

How much can you borrow from eLease?

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

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

eLease offers small 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.