Frequently Asked Questions

Lease financing offers you the lowest monthly costs, with one-to-five-year fixed payment terms providing you the best rates in market. If you operate an established business, know exactly what equipment you want, and value ownership over flexibility, then traditional lease financing is for you.

Renting provides the most flexibility with a 12-month term and 52-weekly payments. If you are still deciding if the equipment is going to work for you or want the equipment to grow with your business, then renting may be for you. Our equipment rental program has four easy end-of-term options:

  1. Open contract, buyout equipment in full at anytime
  2. Return your equipment at the end of 52-weeks
  3. Convert your rental to a lease-to-own contract, pay off over a longer term
  4. Keep renting if you are still deciding
Renting Leasing
Weekly payments Monthly payments
12-month term 12–60-month terms
End of term: You can purchase, return, lease or continue renting End of term: You own the equipment
Ability to upgrade equipment Equipment is fixed
Low cost Lowest cost

Yes, there are tax benefits with leases and rentals. We would encourage you to speak with a tax professional to better understand how leasing can provide tax benefits.

Great! We are happy to work with start-up businesses, established businesses and everything in between.

As the lessee, you are responsible for properly insuring, servicing, and maintaining your equipment. If the equipment breaks down, this is a manufacturer warranty issue and you will need to contact them to arrange repair or replacement as per their terms and conditions. You can also contact the equipment dealership where you made your purchase.

For over 30 years, Econolease has financed equipment for small and medium-sized businesses. We work with more than 3,000 restaurant owners each year, helping them achieve their goals with our custom financial products – LeaseLoanRent

Econolease can lease, loan or rent any amount from $1,000 – $2M +.

You can request a call by clicking here.  If you are ready to apply now, please use our secure online application.

Your dedicated Econolease account manager will contact you with approval options within 24 hours.

Econolease has financing options for a wide range of credit profiles. We will contact you once your application has been received and discuss customized options that best suit your situation.

Once your application is received, you will be provided with a link to activate your customer portal account. Once activated, you will be able to track the progress of your application, upload required documentation, and review your paperwork. This is not mandatory but allows instant access to your financing files.

Our loan product is a great option for non-equipment purchases. Click here for more info.