The Leasing Process

What are the benefits of Lease Financing? This is a question nearly all of our customers ask us when we are first introduced. One of the greatest advantages of leasing with Lynnray Financial Corporation (LFC) is the simplicity and the expediency of the process. The following explores the cycle in detail:

INITIAL CONTACT:

Cusomer or vendor calls LFC and requests a lease quotation on a particular transaction.

QUOTATION:

Within the hour LFC will submit a quotation to the customer or vendor with a credit application.

APPROVAL PROCESS:

Customer finds the LFC rates to be extremely competitive, and submits a one-page credit application (with supporting documentation if applicable). LFC checks credit information and issues an approval to the customer (usually within 4 to 24 hours of obtaining bank information).

DOCUMENTATION STAGE:

LFC draws up the lease with its supporting documentation and sends it by a next-day carrier to the customer for signature.

PURCHASE ORDER AND INVOICE PHASE:

Upon receipt of signed documents, LFC submits purchase orders to vendors and requests invoices.

DELIVERY AND ACCEPTANCE:

Vendor delivers, installs, and trains customer in use of equipment. Vendor also provides LFC with original invoices prior to funding. Customer gives LFC a signed authorization to pay the vendor.

FUNDING:

LFC calls customer for final authorization to pay vendors. If customer is satisfied, checks are disbursed to vendors. Customer is then billed monthly.