At Edison Capital Leasing LLC, we take our responsibility to our professional community and customers very seriously.  We hold dear and are subject to the following  code of ethics as prescribed by the National Association of Equipment Leasing Brokers (NAELB).

NAELB Code of Ethics

As broker members, funding source members, associate members and honorary members of the NAELB, we at Edison Capital Leasing LLC pledge ourselves to maintain honesty, professionalism and integrity in all our dealings with customers, fellow members, the public, equipment vendors, all licensed professionals, other brokers and funding sources, employees and subcontractors and members of other professional leasing associations.  We ascribe to the following Code of Ethics and pledge ourselves to the word and principal of these ethics:

1. We will demonstrate honesty, professionalism and integrity in all our relationships and business dealings with customers, fellow members, the public, equipment vendors, all licensed professionals, other brokers and funding sources, employees and subcontractors and members of other professional leasing associations.  We will at all times adhere to two golden rules:  First, treat other business professionals as we would like them to deal with us and Second, to always conduct our business dealings so as to reflect a positive image upon our profession and the Association.
2. We will respect the right of ownership of property.  Where we have received funds in a fiduciary capacity, we will hold and account for those funds until returned or owned.  If a transaction does not close, we will not keep such funds unless (a) the party remitting the funds has acknowledged that the funds are deemed earned, (b) to cover actual expenses incurred in the processing of the transaction, or (c) the subject transaction does not close due to a breach or fraud by the applicant and the application or agreement clearly permits retention for these reasons.
3. We will communicate as soon as it becomes available to us all information germane to all third parties, funding sources, lessees, vendors and any others where the knowledge of any facts may impact any such party’s decision regarding the transaction in any way.  However, we will only communicate such information to the affected party, recognizing that we should not spread information to parties other than those affected by such information.
4. We shall respect the confidences of our customers, clients and business associates.  Any information delivered to us with the expectation of confidence shall be kept confidential by us.  At all times, however, we shall not use the shield of confidence to hide facts that are germane to keep a funder, broker or other party fully informed about a transaction.
5. We will never knowingly make false statements to anyone.  Under no circumstances will we perpetuate, encourage or disregard fraudulent or inherently dishonest activity by any person in connection with an equipment leasing transaction.
6. When we are asked for legal, accounting, tax or any other professional advice, outside our profession, we will always advise that the individual we are speaking to should ask the same question of a duly licensed and qualified professional.
7. We will not make payments to employees or other agents of a supplier or funding source without the knowledge and permission of the supplier or funding source.
8. We will ascertain that all equipment has, to the best of our knowledge, been delivered before selling or assigning to any third party any lease transaction except where such verification is not required by a funding source prior to funding, such as in a pre-funding program.  However, we shall cooperate with the funding source on all issues of delivery and acceptance of equipment as our funding sources shall require.
9. We will deal fairly with our funders in a manner which respects the value of their time and financial commitment.  We will not request funding for any transaction if we do not honestly believe that the funding source would exhibit some level of interest in funding the proposed transaction in accordance with the funding source’s programs.  We will use our best efforts to submit proper and complete applications and documentation in accordance with the policies set by our funders from time to time.
10. In all cases where subsequent facts impacting the viability or legitimacy of a lease transaction become know to us, even if such facts become known to us after the funding of a transaction, but only within a reasonable time after the funding of the transaction, then we shall communicate that information to all parties known to us having an interest in that transaction.
11. In regard to our competitors, we will not seek unfair advantage by dishonest, unethical or questionable actions.
12. We will strive to enhance our professional competence and keep ourselves informed of all new developments in our industry.
13. We will respect the valuable proprietary nature of and relationships between brokers and their lessees and vendors and not circumvent these relationships except under terms which are agreed to in advance by all parties involved.
14. The use of the terms “National Association of Equipment Leasing Brokers”, “NAELB” and the NAELB “Logo” shall be used only by members in good standing on their letterhead and business cards in accordance with rules promulgated by the NAELB Board of Directors from time to time.  In the event that any member becomes aware of the use of the aforesaid by a non-member, then such member shall immediately bring the usage by the non-member to the attention of the Board of Directors for further action.
15. All members of the National Association of Equipment Leasing Brokers agree to abide by and submit to the arbitration dispute resolution program administered by the NAELB and in effect from time to time.

At Edison Capital Leasing LLC we appreciate the fact that running a small business is hard work. Whether you are setting up a small start up company with several employees, are a self-employed businessperson  operating on your own, you will face daily challenges that, if handled improperly, could undermine your business’s financial health and hinder its growth.

Any small business needs to make an investment of some type of basic equipment and supplies.  If you are a carpenter, you will need various types of costly tools.  If you are starting up a home-based accounting firm, you will likely need expensive software, workstations, copiers, faxes and the like.  A software development firm will need computers, desks, chairs, telephones and dedicated servers.  All of this can quickly add up and drain your available reserves or even use up a good portion of your personal credit lines.

Lease or Pay Cash?

At first glance, it would seem that if you have cash, that is your best way to purchase equipment.   However, that is not necessarily the case.   We have many customers who purchase equipment with leasing when they have the cash in the bank.

Here are some of the reasons why:

• You have better uses for your cash.  Whether that means using for non-equipment expenses like expansions, renovations, employee benefits and the like, or saving it for a rainy day, or spending it on the most important person in your company (you!); your cash can work for you in many better ways than in equipment.
• Equipment is better paid for while you are using it, not in advance.  You wouldn’t pay your employees salaries 2-5 years in advance would you?  Neither should you pay for your equipment before you use it either.
• Technology is speeding up the world at an ever increasing pace.  It is also causing equipment to become obsolescent, generally much faster than we imagine when we purchase the equipment.  Leasing means that your cash is not tied up into a rapidly depreciating asset, protecting your bottom line.

The question is, what is best for your business both now and in the future.   As your business grows, will you wish that you had that cash when an opportunity comes up to make a smart investment that requires liquidity?  Only you know what your business needs will be.   If you are unsure, let’s talk, so you can make the best business decision for you.

Contact Edison Capital Leasing LLC today and let us show you how we can help preserve your capital, maintain your personal credit rating and reduce your corporate tax burden!

Q. I shopped around and found a lease company with a lower monthly payment. Before I sign on the dotted line, is there anything else I should consider?

A. Absolutely. The monthly payment is only a small part of your financing arrangement. When you work with Edison Capital Leasing LLC, we’ll make sure you’re getting our best rate without unfavorable hidden terms.
Let Edison Capital Leasing LLC review your contract before you sign. We’ll look for fees such as security deposits, documentation fees and termination fees, requiring advance payments and prepayment penalties. Always inspect the end of lease terms and beware of ‘Evergreen’ clauses.

Q. Do you charge a security deposit?

A. It depends on the options offered by underwriting. Security deposits are ALWAYS 100% refundable at the end of the lease and are just one of several funding options available through our approval process.

Q. What if I want to pay off my lease early?

A. Leases are binding contracts and cannot by definition be paid off early. If you want to pay off your equipment before the end of the contract ask to apply for an Equipment Financing Agreement or EFA, not a lease. 99% of the time EFA’s can be paid off without accellerated interest.

Q. What happens at the end of my lease?

A. We will notify you of your end-of-term options at least 60 days before your lease expires. There will be the option of keeping the older equipment, or upgrading to a new state of the art unit and extending the lease..

Q. How can I determine what type of lease or loan is best for me?

A. Call 801-548-3197, and talk to one of our Lease and Loan Consultants. Qualified experts will explain your options and help you determine the best lease program solution for your company.

Q. How do I request a financing application?

A.Just go to www.edisoncapitalleasing.com. and go to the ‘ Lease Application’ page (for corporate leases only at this time). You can quickly request financing via our convenient online form. If you’re purchasing a larger piece of equipment, in addition to if you want more personalized service, just call our Lease and Loan Hotline at 801-548-3197 and we will enter the lease application over the phone.

Q. How is my privacy protected?

A. Edison Capital Leasing LLC uses cutting edge security with 256-bit encryption, as well as other precautions to protect any information you submit to us through our website.

Q. Can anyone from my business or practice request financing on my behalf?

A. Yes, although all of your company’s shareholders are required to sign the actual lease agreement.

Q. Is there a limit on the number of leases I can hold for other equipment?

A. No. As a matter of fact, the process becomes even faster with each lease you take out. With Edison Capital Leasing LLC’s simplified ‘Application Only’ Lease Request, there’s very little paperwork – any future leases you take out will call for even less documentation. However, please be aware that Full Financial Packages will always earn lower payment rates because the bank’s risk is less than with ‘App Only’ transactions. We will present BOTH options to you so you can compare rates.

Q. What happens after I’m approved?

A. An Edison Capital Leasing LLC Lease and Loan Consultant, who is assigned to personally oversee all aspects of your account, will call you within an hour of approval to go over terms and conditions of your lease.

Q. What if I already took delivery of the equipment?

A. That’s fine because in true leases taking delivery of equipment doesn’t, in itself, constitute ownership. Actually paying for the equipment in full is considered ownership and only then does title transfer to you. And, depending upon the time that has passed since you paid for the equipment, you may still be able to lease it.

Q. What if I have already purchased the equipment?

A. You can still lease equipment you’ve already paid for if it’s been less than 120 days since you bought it. This type of lease is called a “sale lease-back.”

Q. How soon is the equipment paid for?

A. One of our Edison Capital Leasing LLC Lease and Loan Consultants will call you to confirm that the equipment has been delivered and is working properly. Once this is determined, we’ll issue a check to the equipment vendor (supplier) right away.

Please note: Leases and loans are offered through Edison Capital Leasing LLC are subject to credit approval. Please consult your attorney or financial adviser for specific legal advice before entering into any type of financing arrangement.

For “Application Only” Transactions:

Because of the challenging financial conditions in the economy, please supply 3 months of the most recent corporate bank statements with all pages.

For “Full Financial Package” Leases:

1. Three months of corporate bank statements-please include all pages
2. 2 years of business tax returns
3. 2 years of personal tax returns
4. Personal Financial Statement of all principals
5. Interim (YTD) Corporate Financial Statement
6. Most recent annual Corporate Financial Statement
7. Invoices from equipment dealers

Please Note: The more information that is provided with your application about your financial history and present situation the less the lender’s perceived risk and the lower your payment will be.  For this reason, “Application Only” rates are always higher than “Full Financial Package” rates.

Please FAX the above information securely to 801-606-2817.