How Leasing works:
The Leasing Industry
The Leasing Industry is extremely fragmented with thousands of private leasing companies serving the needs of over 14 million businesses throughout the country. Unlike the banking industry that is regulated by the Federal Reserve, the FDIC and many State regulators, there are no licensing requirements in the Leasing Industry for the small broker company. It is not necessary to have a lot of capital, a national reputation or technological superiority to compete. Service to the Customer, knowledge of their equipment needs, and rapid response are the lynchpins to success. The Canyon Leasing Training Program will provide you with all of the knowledge and skills you need to effectively compete and succeed in this growing marketplace.
How it works
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The Broker identifies a company that is going to lease equipment. Frequently, the prospective Lessee is referred to the Broker by the Seller (Vendor) of the equipment. Since Vendors have many sales that require lease financing, this is a primary source of new lease applicants.
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Either by phone, fax or internet, the Broker, with the Lessee's assistance, completes a one page credit application.
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The Broker either faxes the application to the Funding Source or completes the application on the Funding Source's website. If the Broker chooses, Canyon Leasing assists in presenting the credit application to a Funding Source. The Funding Source then provides a credit approval.
The Broker completes the lease documentation (with Canyon's assistance if requested) and sends the completed, signed lease to the Funding Source usually by overnight mail.
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The Funding Source sends a check to the Vendor for the cost of the equipment, the end user receives the equipment and the Broker receives their commission check on the transaction - no waiting.
