GoFaxer Blog

If you’re in the process of starting a new small business, you are all too aware of the money involved in doing so. Keeping as much cash available as possible can be critical in getting your business off the ground. One way of freeing up some of your cash is by leasing some of your office equipment versus buying it.

I’m not talking about renting equipment. In the long run, renting is too expensive to be seen as practical. Leasing on the other hand can be an affordable solution. It is generally much easier to qualify for a lease than it is to get financing to purchase your equipment. Typically you only have to provide 6 month of credit history to lease equipment, unlike the three year financial history a bank will require for a capital equipment loan.

You may not be able to afford all of the equipment you’ll need to get your company going, but you can probably afford to lease it all. Leasing is especially attractive to those businesses that require having the latest in technology. Leasing your equipment allows you to upgrade to the latest technology at the end of your lease.

Leasing your equipment can have some positive aspects on your balance sheet as well. You may be able to exclude some leased assets and related obligations from your balance sheet. Such moves might improve financial indicators such as your firm’s debt-to-equity ratio or earnings-to-fixed-assets ratio. Bear in mind, however, that accounting rules do require your balance sheet to report assets leased under certain types of agreements.

One piece of equipment you won’t have to worry about purchasing or leasing is a fax machine. Why is that? Because GoFaxer can provide you with all of your faxing needs. Sign up with GoFaxer today and take advantage of all of the conveniences of Internet faxing!