Restaurant Equipment Leasing

Lease Genie has worked with many restaurateurs and history tells us, that in most cases, financing for restaurant equipment will not be comparable to bank financing (sometimes, for very well qualified borrowers, rates can be cheaper once you factor in the tax benefits of leasing – but not always) so instead of worrying about the “rate”, it’s probably best to worry about if the amount of money you’ll generate from use of the equipment justifies the monthly cost of the equipment.

There are numerous advantages of financing your restaurant equipment:

  • Free Up Working Capital: Use your capital for other expenses.
  • Flexible Programs: Operating or Capital lease, Seasonal Payments, Municipalities, and Customized Lease structures.
  • Fast and Liberal Credit Decisions: Lease Genie thinks outside the credit box. Applicants with unproven credit backgrounds, startup businesses, or nature of business are not eliminated, Lease Genie offers a tiered credit advantage for all types and sizes of restaurants.
  • As you get ready to open a new restaurant, something to consider is whether or not to lease some of the commercial kitchen. While you probably wouldn’t consider leasing a stove or a dishwasher for your home kitchen, leasing for a commercial kitchen often times makes the most sense. When outfitting a new restaurant kitchen, or replacing existing equipment, it is important to remember the appliances you choose will get a lot more wear and tear than those of an average home kitchen.
  • Leasing can save you a lot of start-up money and conserve your working capital.

Example of restaurant equipment Lease Genie will finance (list not all inclusive):

  • Cooking Equipment
  • Food Preparation
  • Refrigeration
  • Furniture
  • Dining Room
  • Shelving, Racks & Carts
  • Pizza Ovens & Concessions
  • Dishwashing / Sanitation
  • Hospitality

 

To get the best rate and lowest possible payment when leasing restaurant equipment, you usually need at least 3 years’ time-in-business, good credit (both business and personal), and a history of strong cash flows and profitability.
If you’re trying to lease restaurant equipment with bad credit, for example, depending on how bad your credit is, payments could easily be more.

The truth is, once you add the high failure rates in foodservice to the fact that you don’t get very much when you try to sell repossessed equipment – if your credit is bad, sometimes there is no way to get you approved for leasing no matter what the rates. Restaurant equipment leasing rates for startups are not likely to be low – because you’re asking a financier to take on a lot of risk – although the rules are a little bit different if you’re financing a restaurant franchise with a history of success.

Getting started is as easy as filling out our contact form online or calling one of our lease professionals at (877) 715-5105. Working with Lease Genie you will get the restaurant equipment you need to run a successful business. Discover the Lease Genie difference and let us recommend the best equipment leasing options available for your unique situation.