Frequently Asked Questions

  • A benefit of financing with IFS is that you can purchase equipment from just about any vendor that serves your industry. IFS has funded hundreds of different vendors over our 35 year history. Select your equipment and the options, negotiate your best price and let us do the rest.

  • Your application will usually be approved within 72 hours of receipt of full credit package. An example of a credit package includes, but not limited to: Three years of financial statements, application, and a signed proposal. IFS has the ability to move as quickly as our clients need us to move.

  • Once you are approved, we prepare lease documents for you to review and sign. In many cases the lease documents are sent out the same day of the approval. After you sign and return your lease documents, IFS issues a purchase order to the vendor for the equipment that you have selected. IFS has the ability to make progress payments to the vendor on your behalf, which allows you to conserve your cash.

  • In some instances you can write off the monthly lease payment as an operating expense, depending on the structure or you can take the equipment as a depreciation expense. Because everyone handles their taxes differently, please consult your accountant regarding the specific benefits for your business.

  • The length of time in business, references from your bank and trades, Dunn & Bradstreet report, credit bureau ratings, and your financial statements.

  • Usually, IFS requires the last one or two monthly lease payments up front. Unlike a down payment, these payment(s) are nominal and are applied against your last one or two payments. Typically, the advanced rental requirements represent less than five percent up front for the entire project, including the addition of soft costs A nominal documentation and filing fee is required for processing the lease documents and UCC filings.

  • Yes! Each new client is set up on our master lease program. We can add more equipment at any time with the addition of another lease schedule to your master lease agreement. This allows our clients to add more equipment quickly and easily, with minimal amounts of paper work.

  • Equipment financing with another lender leaves your lines of credit open for other business expenses and needs. Avoid tying up your lines of credit with equipment loans, and keep them open for working capital, and other unforeseen expenses. Diversifying your lending sources makes certain that you remain in control of your own company, and maximizes your borrowing ability.

  • In most instances, IFS has the ability to fund your entire project. We can add many of the soft costs associated with equipment acquisition into the lease. While most banks will only fund 80% of the hard asset, financing with IFS allows you to roll most of the project costs into your monthly payment.

  • The simple fact is that you may never know why you could be losing a sale. Your potential customer may want your equipment, but may have been recently turned down by their lender. Unfortunately, most business owners are too proud to tell you this. By offering our financing programs, you increase your potential to close more sales. Creative equipment financing at IFS is just another tool in your tool bag, and at no cost to you!

  • Most equipment sales people have heard their prospects say at least once, “I can’t afford your equipment right now.” Use financing at IFS to help close the sale! Show your prospect why they can afford your equipment with our Capital Equipment Cost Justification Guide. This guide will help your customer better understand cash flows with the new equipment. Many times this guide allows your prospect to see that they can positively impact their bottom line without any new sales, or increased margins. Often at this point, business owners realize that they can’t afford not to buy your equipment!

  • Help is one call away! Clearly, you have worked long and hard to close your sale. It can be disappointing to find out the deal is going sideways because of financing problems. IFS knows the value of getting your deal closed as fast as possible in situations like this. Once you call IFS, an Account Executive will gather as much information from you as possible about your customer and the equipment they will be purchasing. After you introduce your customer to IFS, your account executive will handle the rest. We will work tirelessly to provide your customer with one of our personalized financing programs. Once your customer and IFS agree on a finance program, documents are then signed, and IFS is ready to fund.

  • You and your customer are in great hands when working with the IFS team. Your IFS Account Executive will work simultaneously with you and your customer. IFS will help tailor a finance program that will meet and exceed all of your customer’s goals. Your Account Executive will design and forward the best proposal possible to your customer. At that time, your customer needs to simply sign the proposal, include any necessary credit items, and send it back to IFS. This information will then be submitted to our credit department for approval.. Typically, IFS provides your customer a credit approval within 72 hours of receipt of the credit package. Upon credit approval your customer will receive a set of master lease documents to review and sign. When the documents have been received by IFS, we then prepare to fund the transaction. IFS has the ability to help your customer along the way with any insurance issues, UCC searches, or progress payments to the vendor.