How To Become An Equipment Leasing Broker
Equipment Leasing : What Is It?
Unlike equipment loans, which are used to buy equipment, equipment leasing is when you arrange a contract with the equipment lender that involves paying a monthly fee in order to use the equipment. Equipment leasing is also known as equipment lease financing.
What Kinds Of Equipment Can Be Leased?
Equipment leases are available for several types of equipment, from major manufacturing equipment to smaller equipment, such as computers.
Where Can I Get Equipment Leasing Or Equipment Lease Financing?
You can find many sources for equipment leasing, ranging from finance companies, to banks, to equipment manufacturers or retailers.
Who Arranges Equipment Leases?
An equipment lease / leasing broker arranges lease financing between the equipment user and the equipment lender.
What Is An Equipment Lease Broker?
An equipment lease broker serves as an intermediary between companies who have limited budgets and are looking to lease equipment, manufacturers who are looking to find customers to lease their equipment, and lenders who want to make loans. The purpose of the equipment leasing broker is to bring the three parties together to complete a loan transaction whereupon he/she collects a fee or commission.
Equipment leasing brokers will develop relationships with manufacturers who make the equipment and on the lending side, with lending institutions and other lenders. This broker will also look for companies who want to lease equipment because they cannot afford to purchase it, or businesses who only require the equipment for a limited time, and so leasing it is the preferred option.
How Does An Equipment Lease Broker Arrange Deals?
By using marketplace research, a client database, and cold-calling, an equipment lease broker is able to arrange deals.
How Much Can An Equipment Lease Broker Earn?
This broker can earn up to 15% of the loan. In our High-Income Loan Broker Business Program there is a brokerage fee chart which will show you what fees you should receive depending on the size of the loan.
How Can I Become A High-Income Equipment Leasing Broker?
By following our easy-to-understand instruction manuals, you can get started as an equipment leasing broker in approximately 10 days.
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