Application Information

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Large Equipment and Project Financing

With our Project Financing program, you can apply for a loan or a lease from the comfort and privacy of your own home or office (no time-consuming visits from loan officers).

Choose a term between 24 and 84 months and finance (new or used) equipment, vehicles, furniture, and even software from $50,000 to $1,000,000.

Basic Structures include:

EFA (Equipment Finance Agreement) is essentially a loan offering a fixed monthly payment that does not fluctuate with increases by the Federal Reserve. You own the equipment and we release our security interest at the end of the finance term. No blanket liens or compensating balances like a typical bank loan.

$1 Purchase Option (commonly referred to as a lease-purchase) offers a fixed monthly payment and you own the equipment at the end of the lease term for $1.

10% Purchase Option offers a fixed monthly payment as well as a fixed purchase option. Your end-of-lease options are to purchase the equipment at 10% of its original cost, renew the lease, or return the equipment to Crest. You may also apply to upgrade to new equipment.

FMV (Fair Market Value) Purchase Option offers the lowest fixed monthly payment, and payments are usually 100% tax deductible. At the end of the lease, you can purchase the equipment at fair market value, renew the lease, or return the equipment to Crest. You may also apply to upgrade to new equipment.

Complex Structures include:

PUT (Guaranteed Purchase Agreement) provides a guaranteed purchase price for the equipment at the end of term. You can choose a purchase price that is fixed at a certain dollar amount, or choose a range between a fixed minimum or maximum amount (Min-Max). The larger the Balloon payment, the lower the monthly payment.

Operating Lease (Off-Balance Sheet Financing) meets the criteria established by the Financial Accounting Standard Board (FASB) and is available for equipment with a strong after-market value.

First Amendment Lease gives you a purchase option at one or more defined points with the requirement that you renew or continue the lease if the purchase option is not exercised. The option price is usually either a fixed price intended to approximate fair market value, or is defined as fair market value determined by appraisal and subject to a minimum to insure that Crest Capital’s residual position will be covered if the purchase option is exercised. If the purchase option is not exercised, the lease is automatically renewed for a fixed term (typically 12 or 24 months) at a fixed rental intended to approximate fair rental value, which will further reduce Crest Capital’s end-of-term residual position. You are not permitted to return the equipment on the option exercise date. If the lease is automatically renewed, at the expiration of that initial renewal term, you typically have the right to return the equipment without penalty, renew, or purchase at fair market value.

TRAC Lease (Terminal Rental Adjustment Clause) provides a guaranteed purchase price for titled vehicles and/or trailers at the end of the lease term (similar to a PUT described above) and otherwise complies with true lease requirements according to IRS rules. At the end of the lease term, you may either purchase the vehicle for a fixed price, or sell the vehicle to a third party. If you sell the vehicle to a third party, you retain any excess over the purchase option amount. However, if the vehicle is sold below the purchase option amount, then you must pay the leasing company the difference between the sales price and the purchase option amount.

The above structures can be combined with the following plans:

Master Agreement allows additional equipment schedules to be added in the future, functioning as an Equipment Line of Credit.

Deferred Plans allow you to get equipment and software now without making payments for up to six months while the benefits of the equipment kick-in. Common deferral periods to choose from are 30, 60, 90, and 180- day periods.

Step-Up Plans afford you lower payments early in the finance term and higher payments later. One of Crest’s most popular programs requires only $100 at signing and $100 monthly payments for the first 6 months.

Seasonal Plans (Skip-Payments) provide for no monthly payments during seasonal businesses’ slow periods, matching payments with months when more cash is generated during the year.

Other structures are available. Crest Capital routinely accommodates Progress Payment requirements as well as other funding specifications to facilitate smooth transactions between buyers and sellers.
Please contact Crest Capital for more…