Types of financing

Below are some of the most popular programs we offer.

To make sure you are looking at the best option for your company’s specific needs, please contact us.

Equipment Finance Agreement (EFA)

An Equipment Finance Agreement (EFA) is Empire’s version of a standard loan. This type of contract is our most popular product because it’s familiar and easy to understand. An EFA allows you to depreciate your equipment over 2-7 years while writing off the interest paid within a given tax year. An EFA also allows you to take advantage of the IRS’s Section 179 deduction.  

Capital Lease

This is a lease with a $1 purchase at the end, which allows you to pay for the equipment fully over the lease term, after which ownership passes to you.   

10% Purchase Upon Termination Lease (PUT)

The 10% Purchase Upon Termination Lease (PUT) is may be considered an operating lease and can sometimes be characterized as off-balance sheet financing, in which case monthly payments are treated as a rental expense.  

Fair Market Value Purchase Option

The Fair Market Value lease (FMV) is often considered a true lease meaning that the contract is set up as a long-term rental with the option to purchase, continue to lease, or return the equipment at the end of the contract.

Master Lease

A leasing line of credit is established for your company.  Equipment is purchased as needed over a period of time, and added to the Master Lease by using a simple one-page schedule.  Lease Payments are made only on equipment that is actually delivered, and purchases from any number of vendors may be included on the same lease

Flexible Payment Plans

We understand that small business has unique cycles, especially pertaining to cash flow.  That’s why we are committed to providing you with flexible and convenient payment plans.

Seasonal Skip Payments

If you experience an annual decrease in cash flow, we offer you the option to make 9 payments annually instead of 12.  You tell us when cash flow is the lightest, and we’ll structure your agreement accordingly.

90 Day No Payments

If you need some time to benefit from your equipment purchase, try this payment schedule. With the 90 Day No Payments Plan, you simply make one payment in advance, then make no payments for the next 90 days.