Once a year, The Green Sheet publishes profiles of the companies listed in the ISOs Looking for Agents section of the Resource Guide, as well as the Banks Looking for ISOs. At the request of our readers, in this issue we are publishing the first ever profiles of Leasing Companies listed in The Green Sheetís Resource Guide.
The companies we interviewed are pretty much on the same track when it comes to timeframes and types of equipment offered. Many lease more than just POS equipment; their products include all types of business products, such as ATMs, personal computers, and software. Most of the companies profiled will supply funding the same day, a few have a 24-hour timeframe, and some allow 48 hours for good measure. Application turnaround time ranges from less than one hour to 24 hours.
When comparing rates, there is a bit of variation among the companies we profiled. Considering a 48-month lease, an A rate ranges from .0295 to .0299. B rates have a larger range with a low of .0305 all the way up to .0340. C rates also have some leeway with a low of .0340 and a high of 0399. D rates have the biggest range with anywhere from a rate of .0425 to a rate of .064.
The companies also differ in the special services they offer. For example, some are moving away from computer-generated lease scoring, instead choosing to taking a personal look at the prospective accounts and assessing the risk themselves. This individual assessment includes other factors which computer scoring simply cannot judge, such as the companyís years in business, investment, and previous experience.
Also, some leasing companies will go the extra mile and offer overnight shipping or overnight replacement of broken equipment. Other "extras" offered include equipment upgrade programs, flexible lease options, online applications, and residual sharing.
Following is specific information for each of the companies listed in the Leasing section of The Resource Guide. If you have any questions, we encourage you to give them a call or drop them an e-mail. They are more than happy to answer your questions.
Allied Leasing Corp.
Contact: Shiney Joseph
Phone: (877) 71-lease
Fax: (504) 764-0333
Web site: www.alliedleasing.com
E-mail: sales@alliedleasing.com
Shiney Joseph and Bobby Joseph formed Allied Leasing Corp. in 1998 after Bobby sold his interest in American P.O.S. Leasing Corporation, which he started in 1995. Allied Leasing offers guaranteed lease financials for all kinds of business equipment. The first and last is not mandatory for A or B leases. They offer $1.00 buy-outs at the same rate as A and B leases. Verbal is minimal, applications can be submitted online. Only the operation for the equipment is verified and the date of ACH is mentioned if a clear copy of the driverís license is attached. Allied offers 25% residuals from buy-out fees and income from renewed leases. Does not have different rates for ISOs. Application response time is typically within the hour of receipt, during business hours. Same day funding if all paperwork is complete and installation verified by 3:00 PM CST. ISO package available upon request.
Rates are as follows, all rates 48 months:
A 0.0285 B 0.0305
C 0.0399 D 0.045
American POS Leasing Corp.
Contact: Sam Stromme
Phone: (800) 349-6516
Fax: (504) 764-7100
Web site: www.poslease.com
E-mail: pos@poslease.com
American POS Leasing has been in business for five years. They offer overnight replacement of broken equipment, applications approved in two hours, overnight shipping is standard and ACH to ISO accounts are also available. ISO package available upon request.
Rates are as follows:
A .0299 based on 48 months
B .0359 based on 36 months
C .0499 based on 24 months
D .0979 based on 12 months
Also, .0295/48 for 20 leases per month; flat rates negotiable.
AMERILEASE
Contact: Bob Schoenbauer
Phone: (888) 848-8782
Fax: (410) 266-6541
AMERILEASE has been in the bankcard and leasing industry for four years and does not use computer generated lease scoring. The company personally scores each lease by hand, considering not only credit information but also time in business, investment, and previous experience. AMERILEASEís lease form allows for differing payment amounts for good, fair, and poor credit, eliminating trips back to the merchant. The lease will automatically be verified and funded at the appropriate amount. AMERILEASE has no additional reserve or holdbacks and only one-month recourse regardless of credit. AMERILEASE also leases ATMs, computers, and business equipment.
Rates are as follows:
A/B 0299 based on 48 months
C/D .0335 based on 48 months
E .0399 based on 48 months
A/B .027 based on 60 months
C/D .030 based on 60 months
E .037 based on 60 months
A/B .037 based on 36 months
C/D .041 based on 36 months
E .046 based on 36 months
A/B .055 based on 24 months
C/D .058 based on 24 months
E .063 based on 24 months
First Leasing
Contact: Karla Price
Phone: (888) 748-7100
FAX: (214) 748-5325
First Leasing is a
27-year-old company that does not sell leases to financial
institutions; they retain the lease in their active portfolio.
Applications are approved in 24 hours, funding is supplied the same
day of verification. Opportunity to upgrade to new equipment by
rolling the new equipment cost, less trade allowance and the old
lease balance, less lease fee refund, into a new lease. Company does
not have voicemail; an actual person answers calls, promptly. ISO
package available upon request.
Lease rates are as follows, based on 48 months:
A .0285 B .0315
C .0399 D .064
Global Finance & Leasing
Contact: Charles Salyer
Phone: (800) 638-0332
Fax: (616) 530-1788
Web site: www.globalfin.com
E-mail: sandys@globalfin.com
Global Finance and Leasing has been in business for ten years. The company offers same day application turnaround and funding is supplied the same day as verification. Global also offers micro ticket leasing, remote application program, personalized credit scoring, and one-on-one management. Rates are variable, customized for each program. Call for more information. ISO package available upon request.
Golden Eagle Credit Corporation/Golden Leasing
Contact: Joel Epstein or Joseph Falci
Phone: 800-WE-LEASE (800-935-3273)
Fax: (203) 438-0702
Web site: www.goldeneaglecredit.com
E-mail: leaseinfo@goldeneaglecredit.com
Golden Eagle/Golden Leasing has been in business for more than 10 years and is fully staffed to market, credit underwrite, finance, and service micro-ticket lease transactions. Provides lease finance solutions to various equipment types including computer, office, software, and point-of-sale equipment. Credit approval within minutes; funds transacted the same day the original documentation and verification is received. Each ISO is assigned a personal lease administrator. ISOs earn money by discounting leases. Call for rates for tailored lease programs. Lease package and brochure information upon request.
Integrated Leasing Corp
Contact: Corey Saftler
Phone: (800) 398-9701
FAX: (800) 593-6975
E-mail: lease99@aol.com
Integrated Leasing Corporation offers a 98% approval rate, 3-hour approval timeframe, and same day funding if phoned in by 3 PM EST. Residual program and flexible lease scoring. Up front and back end residual sharing. Integrated Leasing has come up with a unique way for ISOs to get a full commission on C and D leases. For details, contact Integrated, and they will explain the program further. ISO package available upon request.
Rates are as follows, based on 48 months:
A .0295 B .0320
C .0399 D .045
Ladco Leasing
Contact: Joe Kusnierek
Phone: (805) 373-1910
Fax: (805) 495-0486
Web site: www.ladco.com
E-mail: jkusnierek@ladco.com
Ladco Leasing has been in business for 20 years and was the first lease company in the POS business. Offers split funding, overnight replacement of broken equipment and has custom programs available for volume and quality. 24-hour approval time frame, 48-hour funding time frame. Willing to create solutions to the needs of the ISOs. Member of NYSE. ISO package available upon request.
Lease factors are as follows, based on 48 months:
A .0299 B .0340
C .0340 D .0480
Professional .0290
Leasing Partners
Contact: Nancy Nio
Phone: (805) 496-5158
Fax: (805) 496-5545
Web site: www.leasingpartners.com
E-mail: lepartners@aol.com
Leasing Partners has been in business for five years and offers fast funding via FedEx within 24 hours of verbal confirmation. Same day answers on POS applications. Also handles difficult ATM machines, route ATMs, and private ATM credit, in addition to computer and software leases of all types.
Lease factors are as follows, based on 48 months:
A .0297 B .0310
C .0343 D .049
MicroLease Funding Corporation
Contact: Allan Helman
Phone: (212) 248-5200
Fax: (212) 248-3947
E-mail: mfcvendor@aol.com
MicroLease Funding Corporation, founded in 1994, is a family-operated business that focuses on personalized service and rapid funding. The company goes beyond computer-generated analysis and examines each application individually. Applications reviewed and approved within two hours, funding supplied through ACH or by overnight check without cost to client. Seven-day a week customer service. Rates, based on 48 months, range from .0295 to .0425 for D credits. Call for details.
Northern Leasing Systems, Inc.
Contact: Jeff Negri
Phone: (212) 216-8214
Fax: (212) 760-0862
E-mail: jefnegri@northernleasing.com
Web site: northernleasing.com
Northern Leasing Systems, Inc. (NLSI) is a New York City-based finance company specializing in the origination and servicing of micro and small ticket leases. NLSIís target market includes retail and service establishments that are referred to NLSI by a network of banks, credit card processors, and ISOs throughout the U.S. NLSI provides funding on leases ranging from $500 to over $10,000. NLSI focuses primarily on point-of-sale electronic draft capture equipment, but does provide financing for other types of equipment. Call for rates.
