Hey guys, As many of you have probably done, we're weighing the benefits and difficulties of lease-to-own and bank loans and trying to find what will be best for future growth. What I'm looking for is what each of you decide to use to fund growth and why you choose leasing vs getting a loan through a bank. Lease to own is basically like a bank loan but usually at a higher interest rate but they may be more inclined to lend than a bank for example.
I understand in our case that we can receive a better interest rate through a local bank but they make it a bit harder to borrow. I have not worked with a leasing company yet but from the sounds of it, they may be more likely to lend money for a successfully growing WISP. If you could leave a review from any lenders you have worked with, that would be great. I'm not an accountant or tax person but with leasing, the payments should be 100% tax deductible where if we purchased the equipment outright, we have to depreciate it over it's life (3-5 years usually) so we would pay more in taxes every year by purchasing. To sum it up, I'm looking for your thoughts on leasing-to-own vs. getting a bank loan and purchasing equipment and your favorite vendors you've worked with. Thank you all -- Darin Steffl Minnesota WiFi www.mnwifi.com 507-634-WiFi <http://www.facebook.com/minnesotawifi> Like us on Facebook <http://www.facebook.com/minnesotawifi>
