866-205-0030 | Swift Login

EF UCC Advantage

Slide background

UCC vs. BANK vs. CASH

BUSINESS FINANCING HOME > UCC-BANK-CASH

DISCOVER WHY AN EQUIPMENT LEASE WITH UNION CREDIT CORPORATION IS THE PREFERRED CHOICE OF MANY SMALL BUSINESS OWNERS.

While it may be tempting to call your bank or write a check when you are in the market for an equipment purchase, the reality is that leasing your equipment begins to stand out after you take varying factors into consideration.

logo_300 bw (1) LEASE CASH BANK
APPROVAL TIMING As little as 1 hour Full payment due at date of purchase 1 to 3 weeks
SOFT COSTS All costs covered including shipping, installation and taxes All cost paid out of pocket at date of purchase Not covered, must be paid out of pocket
BUDGETING Fixed payment schedule, does not change after funding Cash tied up in fixed asset, cannot be used for other business purposes Variable rates tied to floating indexes
RESTRICTIONS No age or mileage restrictions, private sales OK Marketing or hiring plans may be delayed due to lack of cash Equipment can be no older than 5 years, no private sales
COVENANTS Asset specific lien, free use of equipment without being bothered Key financial ratios may be negatively affected affecting current credit lines or future borrowing ability Minimum bank balances to be maintained, annual financial review, loan can be called in at any time, blanket UCC-1 filing
  • UCC Advantage