SMOKY MOUNTAIN FINANCE, INC.
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| SMOKY MOUNTAIN FINANCE 3219 E. Lamar Alexander Suite #2 MARYVILLE, TN 37804 877.676.6599 888.676.6599 FAX 865.441.2373 AFTER HOURS |
TYPES OF EQUIPMENT FINANCING WE OFFER:
Application only programs usually take up to 24 hours for a credit decision.
Transactions requiring financial statements and/or storied credits can take 3- 5 business
days for a credit decision.
Loans:
SMF is a full service provider and can provide you with a true loan when you want.
Although most customers choose to take advantage of the many benefits of leasing, we
will provide what the customer wants when that is a loan.
Fair Market Value (True Lease)
For those worried about obsolescence, this plan offers the most options both during and
at the end of the lease. This plan is particularly beneficial to those wanting to have both
a small security deposit and a relatively low monthly payment. A True Lease allows the
most cost to be deferred to the end of the lease, when a decision to retain or upgrade
the equipment can be made.
At the end of the lease term, the lessee has the option to:
$1.00 Buy-Out
This lease is structured for those who are fairly certain they wish to purchase theirequipment at the end of the lease term. At the end of the lease term, the equipment is
simply purchased for $1.00. (A nominal charge for processing the title transfer may also
apply)
PUT (Purchase Upon Termination)
This plan offers the lessee a fixed purchase option at the end of the lease. At lease end,
the customer can extend the term of the lease, return the equipment or buy it usually at
10% or 20% of the original equipment cost. SMF also offers financing for those wishing
to buy the equipment at lease end.
TRAC Lease (Terminal Rental Adjustment Clause)
An operating lease used for trucks and licensed commercial vehicles that contains a
higher, predetermined purchase option at the conclusion of the term. A TRAC lease
allows the Lessor to offer a lower rental (lease) rate because it is able to claim the
depreciation on the equipment.
Sale Lease Back
Sale of equipment already listed on Lessee's balance sheet to Lessor which in turn
lease the equipment back to the Lessee. This provides a capital infusion to the Lessee
and possibly removes debt from their balance sheet.
Master Lease
A master lease agreement allows for additional schedules of equipment to be easily
added to the lease. Payments are adjusted to cover the additional equipment.
Step Lease
Step leases allow lease payments to either increase (Step-Up) or decrease (Step-Down)
over the term of the lease to better meet unique cash flow needs.
Step-Up
This plan allows for lower monthly payments at the onset of the lease while the
equipment begins to generate revenue. Ideal for growing businesses.
Step-Down
Here, the customer makes larger monthly payments at the beginning of the lease vs. the
end. This is a good program for businesses that want to minimize charges.
Skipped Payment Lease
This type of lease agreement requires the lessee to make payments only during certain
months or periods each year, to meet seasonal needs or other cash flow constraints.
Deferred Payment Lease
Deferred Payment Lease is a lease that contains 30, 60 or 90-day deferment of the first
monthly payment.
- Application only up to $250,000 (No Financial Statements) for commercial
equipment – Minimum 3 years time in business & acceptable credit. - Application only up to $300,000 (No Financial Statements) for agricultural
equipment – Minimum 5 years time in business & acceptable credit. - Commercial up to $300,000 with only 1 year financial statements.
- NEW PROGRAM - TRAC LEASE on any equipment that is self propelled, this
includes excavators, dozers, crawlers, tracked rock crushers, etc… - Start-up Program – Application only to $50,000 (Principles must have strong
personal credit). - Multiple other application only programs at lower amounts based on strength of
credit. - Challenged Credit Programs – Please call for details.
Application only programs usually take up to 24 hours for a credit decision.
Transactions requiring financial statements and/or storied credits can take 3- 5 business
days for a credit decision.
Loans:
SMF is a full service provider and can provide you with a true loan when you want.
Although most customers choose to take advantage of the many benefits of leasing, we
will provide what the customer wants when that is a loan.
Fair Market Value (True Lease)
For those worried about obsolescence, this plan offers the most options both during and
at the end of the lease. This plan is particularly beneficial to those wanting to have both
a small security deposit and a relatively low monthly payment. A True Lease allows the
most cost to be deferred to the end of the lease, when a decision to retain or upgrade
the equipment can be made.
At the end of the lease term, the lessee has the option to:
 | Extend the term of the lease another 12 – 36 Months, | |
| Return the equipment | |
| Continue to rent on a month-to-month basis | |
| Buy it at its fair market value. |
$1.00 Buy-Out
This lease is structured for those who are fairly certain they wish to purchase their
simply purchased for $1.00. (A nominal charge for processing the title transfer may also
apply)
PUT (Purchase Upon Termination)
This plan offers the lessee a fixed purchase option at the end of the lease. At lease end,
the customer can extend the term of the lease, return the equipment or buy it usually at
10% or 20% of the original equipment cost. SMF also offers financing for those wishing
to buy the equipment at lease end.
TRAC Lease (Terminal Rental Adjustment Clause)
An operating lease used for trucks and licensed commercial vehicles that contains a
higher, predetermined purchase option at the conclusion of the term. A TRAC lease
allows the Lessor to offer a lower rental (lease) rate because it is able to claim the
depreciation on the equipment.
Sale Lease Back
Sale of equipment already listed on Lessee's balance sheet to Lessor which in turn
lease the equipment back to the Lessee. This provides a capital infusion to the Lessee
and possibly removes debt from their balance sheet.
Master Lease
A master lease agreement allows for additional schedules of equipment to be easily
added to the lease. Payments are adjusted to cover the additional equipment.
Step Lease
Step leases allow lease payments to either increase (Step-Up) or decrease (Step-Down)
over the term of the lease to better meet unique cash flow needs.
Step-Up
This plan allows for lower monthly payments at the onset of the lease while the
equipment begins to generate revenue. Ideal for growing businesses.
Step-Down
Here, the customer makes larger monthly payments at the beginning of the lease vs. the
end. This is a good program for businesses that want to minimize charges.
Skipped Payment Lease
This type of lease agreement requires the lessee to make payments only during certain
months or periods each year, to meet seasonal needs or other cash flow constraints.
Deferred Payment Lease
Deferred Payment Lease is a lease that contains 30, 60 or 90-day deferment of the first
monthly payment.
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