The Original Seattle Coffee Company, Inc. has teamed up with Crest Captial to offer our customers an easier way to get started in their own business, or to expand their existing business.

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In Partnership with Crest Capital Equipment Finance

What is a lease?
An equipment lease is a written agreement through which the owner (Lessor), of a piece of equipment gives the user (Lessee) the right to use that equipment for a specified period of time for an agreed upon payment.

Because of its flexibility, leasing can benefit all types of companies: large and small, public and closely held, high tech and industrial, established and start up.

Leasing is also an appealing alternative for municipalities and non-profit organizations. Leasing offers numerous advantages over traditional financing methods, such as cash purchase or bank financing.

Over the past 25 years, leasing has become the fastest growing method of accessing capital equipment for American businesses.

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Leasing Provides You With “One Stop Shopping”
You can select all of the equipment you need from any combination of equipment vendors. If you’re looking for computers, then consider including the necessary desk or modular office furniture on the lease application. This mixing of equipment types is acceptable for all configurations, whether the equipment is related or not.

Leasing Conserves Capital
Leasing offers 100% financing, and unlike a bank loan, requires little or no down payment. Taxes, delivery, installation/training, and other costs not typically financed by a bank can be included in the cost of the lease.

Leasing Preserves Credit Lines
Leasing provides an additional source of funds, which supplements existing credit lines. Your available capital is increased because other credit lines are left unencumbered for operations, expansion and acquisitions.

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What if the equipment doesn't work?
It's the same as if you made a cash purchase, however you're not obligated to start payments until you've accepted the equipment in writing.

Can I get out of the lease if I replace the equipment of my system requirements change?
You have the ability to upgrade to new equipment or add-on additional equipment during the lease term.

Why aren't personal property taxes included in the lease?
Because they are constantly subject to Change. The leasing company would have to re-write the lease every time a change occurred. It's just not practical to include personal property tax.

Why should I tie myself to a long-term contract when I'm not sure how long I'll need the equipment?
Well, you'll have more replacement flexibility when you lease. It's always possible to transfer the lease from one piece of equipment to a newer piece. You'll find it easier to replace the equipment when it's leased.

Can I pay off the lease early?
We caution the customer that an early payoff might be expensive. There is no penalty for early payoff, however the customer is exercising their purchase option in addition to paying off the net lease balance. If this occurs early on in the lease agreement, the payoff could be higher than the original equipment cost. Generally, it is wise to recommend a shorter lease term if the customer intends on paying a lease off early.

What do you lease and can I have just one payment if I use more than one vendor?
Medical & Dental Equipment, Production Equipment, Computers, Telecommunication Equipment, Office Furniture, Construction Equipment, Fitness Equipment, Dry Cleaning Equipment, and much more. As a general rule if it does not float or fly Crest Captial will be able to provide funding. We can put multiple vendors on one lease, making it possible for the lessee to make only one payment.

What is the difference between a $1 purchase option versus a 10% Residual and what is a 10% PUT?
The $1 Purchase Option is considered a conditional sales contract or financing lease, and you could loose the tax write off if audited. Under the 10% Residual, the lessee may be granted the option to purchase the equipment for an amount equal to 10% of the original equipment cost plus applicable taxes upon the successful completion of their lease. Generally, this 10% residual or purchase option will satisfy the IRS’s requirement for a "true lease". A 10% PUT (Purchase Upon Termination) is a guaranteed purchase by the lessee at the end of the lease.

Who provides service on the equipment?
The warranty is passed along to the lessee. Beyond the warranty time frame, the customer would contact the dealer or manufacturer. Crest Capital is a financial company and does not service equipment at all.

Is the payment on the lease my only payment?
The payment on the lease is the total that Crest Captial receives. You will be billed for use or sales tax each month if applicable.

Can my lease be assumed?
Yes, it can be assumed but Crest Captial reserves the right to approve the new lessee from a credit standpoint. Once the new lessee is approved, we will provide an assumption form for all parties to sign.

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