Econolease offers equipment financing for new and established businesses. Whether you are just starting up or require high usage equipment that's prone to wear & tear, we have a funding solution for you.
Starting a new business? Congratulations! We encourage new businesses to use our equipment financing solutions to make their hospitality journey as seamless as possible.
When you rent your hospitality equipment, you can treat the rental payments as an operating expense, which can be claimed as a tax deduction!
Try the equipment before deciding whether it’s right for your business! Rent-Try-Buy® gives you the flexibility to exchange or upgrade the equipment you are renting at any time to suit your business needs. Is the equipment exactly what you need? Buy at any time.
Financing up to $50,000 is available with minimal documentation needed. For amounts over $50,000, additional requirements may apply.
Select your equipment from your preferred dealer.
Once your funding is approved and you have chosen your equipment, you are ready to start your rental agreement.
Econolease’s Rent-Try-Buy® is a flexible 12 month rental agreement that allows you to get the hospitality equipment you need while giving you the flexibility to exchange, upgrade or own your equipment at any time. All while keeping your cash flow healthy with low weekly payments that are 100% tax deductible.
We can still work with you to get a pre-approval in place while you decide on what equipment you would like to rent, even if you haven’t finalized your equipment quote.
You can finance all types of standard hospitality equipment with a serial number. A portion of your invoice can also be non-standard equipment, such as custom items, smallwares, and installation. Reach out to an Econolease finance consultant today at 1-888-473-9309 to learn more.
Aside from weekly rental payments, the fees and charges are:
No — although your rental payments will gradually lower the equipment’s purchase price, there will still be an outstanding balance at the end of the 12 month agreement.
When calculating the amount you need to pay to buy your rental equipment (i.e. the ‘payout amount’), we subtract your rental rebate (60% of the net rent paid you paid in the first year and 20% of any net rent paid thereafter) from the amount financed.
To confirm how much the balance is, please call us at 1-888-473-9309 to request a quote.
And remember that you can purchase the equipment at any point during the rental agreement (not just at the end of your contract).
Each of our financing options has unique benefits made to suit your hospitality business needs.
Rent-Try-Buy® offers weekly payments over a 12 month term and the option to exchange, upgrade or own the equipment at any time. This is a great option if you would like a flexible financing solution, or are just starting up your hospitality business.
If you are certain about the type of equipment your business needs, leasing is the best option for you. With a lease, options for 12 to 60 month terms are available with the best rates in market.
Need cash to support business needs such as operating expenses, marketing, wage costs, and repairs? We offer loans with low daily payments with terms from 6 to 12 months. These are fixed repayment terms that you can pay off at any time.
Talk to a finance consultant today at 1-888-473-9309 to find out if Rent-Try-Buy® is right for your business. If rental is not for you, we also offer lease and loan options that may be more suitable for your business.
Our customer service team will gladly help with any questions you may have. Call us at 1-888-473-9309 or fill out our customer service form.
