Lease Finance Partners

Equipment leasing is one of the fastest-growing industries in the U.S., with eight out of ten businesses relying on leasing companies to finance their tangible asset requirements. Investing in these assets is key to staying competitive for many small and mediumsized businesses, which makes an equipment lease financing partner an integral cog in the procurement process for many organizations. However, finding a reliable leasing company that can provide financing for diverse needs can be challenging.

This is where Lease Finance Partners (LFP) makes an impact. Established in 1959, the 64-year-old company provides convenient and efficient commercial lease financing for businesses of all sizes across the oil and gas, medical, manufacturing, office equipment, and cannabis industries, to name a few. It finances a wide range of equipment and supports clients through strategic lease financing options. LFP also offers vehicle lease programs for new and used commercial trucks, vans, service body vehicles, and overthe-road tractors and trailers.

“Every business needs to build healthy relationships with their insurance agent, attorney, accountant, and bank. At LFP, we believe leasing firms are just as important component of advisors to assist companies succeed; we do it better than anybody else,” says David W. Urban, CEO of LFP.

Driving Growth through Long-Lasting Partnerships

LFP provides customers with efficient and convenient financing for business vehicles and equipment. The team begins with a streamlined credit approval and ensures a simple, hassle-free process for the duration of the term from start to finish. It offers custom financing solutions, helping clients control their expenses and cash flow without impacting their client’s bank credit lines.

Vendors that partner with LFP provide their customers more buying options than available with traditional financing or paying cash. Regardless, their personalized service includes prompt quotes and fast approval and funding. Vendors have the choice to discuss lease options with their customers or have an LFP Account Executive contact the customer directly. LFP offers competitive rates, structured programs and ensures customer satisfaction to increase vendor sales with their value-added approach.

Growing with each project, LFP leverages various technologies internally, like e-signatures, to perform complex and time-consuming tasks with fewer employees in a shorter time frame. This streamlined approach enables LFP to have signed lease documents and remit vendor invoices within an hour to complete transactions if necessary.

Typical transactions may take more time to help with customer understanding and gathering financial information. The LFP team holds discussions with each client to truly understand their needs and craft tailor-made solutions. These discussions also help the team identify opportunities to expand its service offerings to lessees for all necessary equipment and vehicles they do not have a leasing solution.

In one instance, LFP was approached by a tech startup for their vehicle leasing needs. Although the startup had multiple investors, it was less than two years old, which doesn’t comply with LFP’s credit criteria. Despite this, the team determined alternatives to offset the lack of time in business and developed a program beneficial to the startup, providing lease financing for 100 vehicles.

Following the project’s success, LFP began exploring different financing opportunities in the tech startup space and now provides lease financing solutions to startups across the country.

LFP adopts the same attitude in building strong partnerships with equipment vendors. It designs solutions that help them sell more products, to drive new and repeat business.

“As businesses expand their operations, their equipment needs also increase. When the situation arises, we want to be there to provide them with the best lease financing solutions,” says Urban. “Leasing companies come and go, but after almost 65 years in business, we remain and continue to grow. We’ve been doing business with many of our lessees for 40 years or more.”

LFP’s determination to partner with vendors and help grow their business has resulted in their expansion into new markets over the years. In one instance, LFP’s services were solicited by an alarm vendor in the cannabis industry. Cannabis facilities are mandated to install alarm systems, but the restrictive federal regulations make it challenging for them to acquire financing from banks. The LFP team stepped in and designed a custom credit objective giving the vendor a viable financing alternative to offer their customers. The efficiency with which the team performed the task led to the vendor promoting LFP’s solutions among other cannabisrelated equipment vendors. Avenues opened for the team to provide more diverse financial tools to support the cannabis industry.

LFP also works with equipment lease brokers from across the country, forming exclusive partnerships. The trust between the team and the brokers has helped ensure that LFP is their go-to partner for every transaction. These relationships provide a primary source of the company’s sales and marketing efforts.

Team Work – The Success Mantra for LFP

LFP’s success over the years can be attributed to its highly experienced team of professionals with an indepth understanding of complex credit and the needs of their vendor and broker relationships. They approach every customer and credit individually, leveraging their skills to put together the perfect program for each client, vendor, or lessee.

The LFP team led by President, Rick Heimerman, works as a cohesive unit maintaining the highest standards possible while catering to customers. Whatever the client’s requirement, equipment financing, vehicle leasing, or help with budgeting, the team is always prepared to offer the best solutions. With a nimble mindset and a wide reach, LFP has evolved over time and diversified its operations, building strong partnerships with vendors, businesses, and banks.

Established at a time when equipment leasing was a novel idea, LFP started by partnering with car dealerships and helping businesses build their vehicle fleets. As years passed, the emergence of new technologies made investing in the latest equipment a necessity for every business. LFP was quick to realize that equipment lease financing is the ideal solution to help companies meet that need. By innovating its offerings, the team garnered a reputation for introducing customers to the full potential of lease financing. It has continued its path of progress, turning into a key business partner for vendors that need assistance with equipment financing and vehicle sales, as well as business owners that require comprehensive lease options.

“I acquired the business from my father and learned everything I know about leasing from him. Our vision and business model may be different, but the core principles of the company have always remained true, and integrity is our most valued principle,” Says Urban. “Every one of our employees has complete autonomy in their position, but we are dedicated to working as one team. Each lease touches every person or department in the company in some manner. We can’t do everything, but we do what we say we’ll do… every time.

Ultimately that sets us apart.”