HOW LONG OF A TERM CAN I LEASE FOR?
Terms range from 12 months to 60 months. We can extend to 84 months on certain types of equipment.

WHAT IS THE CREDIT CRITERIA?
The business must maintain a satisfactory payment history with its suppliers. The minimum requirements of the business banking relationship are generally only a low four figure balance. We also review the personal credit of the owners of the business and look for relatively clean credit history.

DOES ALL THE EQUIPMENT HAVE TO COME FROM THE SAME VENDOR?
No, you may get equipment from multiple vendors.

WHO HAS RIGHTS TO WARRANTIES AND LICENSING FOR THE EQUIPMENT?
The warranties and/or licensing offered by the manufacturer are passed on to you.

CAN I DEFER OR SKIP PAYMENTS?
Yes, we offer deferred and skip payments as well as seasonal. For these programs, we will need to set it up at the beginning of the lease.

WHAT IS THE INTEREST RATE?
The amounts charged on an equipment lease are calculated using monthly "rental rates", rather than by using a compound interest rate method that is normally associated with conventional loans. Rental rates are based on the lessor's ability to effectively manage risk and costs associated with equipment ownership, while passing on the economic savings to the lessee.

MAY THE EQUIPMENT BE RETURNED AT ANY TIME?
No, the lease is non-cancelable agreement for a specified term that your customer selects at the beginning of the lease. Leases are available for terms ranging from 12 to 120 months (depending on equipment type), and can be upgraded or added on.

CAN I LEASE USED EQUIPMENT OR EQUIPMENT COMING FROM SOMEWHERE OTHER THAN A VENDOR?
Yes, we can lease used equipment. The equipment can come from an end user, an auction, or a vendor.

CAN I LEASE EQUIPMENT THAT I ALREADY OWN OR REFINANCE EQUIPMENT THAT I CURRENTLY HAVE WITH ANOTHER LEASING COMPANY?
Yes, we can write you a check for equipment that you already own if purchased within 120 days and then just make payments to us on a term usually up to 36 months. You can also lease equipment that you already have on lease with another company - in case you want a longer term.

IS THE LEASE TRANSFERABLE?
Yes, as long as the new lessee's credit qualifies.

WHEN DO MY PAYMENTS START?
In most cases we collect the 1st and last payment at lease signing, your next payment will be approximately 30 days after the equipment has been delivered.

CAN I LEASE SOFT COSTS OR SOFTWARE?
Yes, we can provide I00% software leases and soft costs such as training, installation and extended warranties and support packages as part of a lease for all types of equipment.

CAN I RETURN THE EQUIPMENT AND STOP MAKING PAYMENTS?
No, the lease is non-cancelable. You may return the equipment after all payments have been made or may get a discount for paying off early.

DO YOU OFFER LEASING TO NEW BUSINESSES?
Yes, we do leasing for newer businesses. We require a minimum of 6 months in business.

HOW LONG DOES THE LEASING PROCESS TAKE?
The credit approval generally takes about 24 hours or less for applications up to $100,000.

WHAT IS THE FIRST STEP TO GET THIS PROCESS STARTED?
Complete the lease application then fax it, mail it, or call us with the information.

WHAT ARE THE OPTIONS AT THE END OF THE LEASE?
The end user/lessee may purchase the equipment for its then fair market value (or such other amount if previously agreed to in writing by Mid Continent Capital), continue to lease, or return the equipment with no further obligation.

WHO IS RESPONSIBLE FOR TAXES?
Because this is a "net" lease, end user/lessee is responsible for taxes. Mid Continent Capital is required by law to collect all applicable sales, use and property taxes and remit them to each state.

WHO INSURES THE EQUIPMENT?
The Lessee is responsible for insuring the equipment against risk of loss including property and casualty coverage and liability. Lessees typically just add the equipment to their existing policy. However, insurance may also be available through MCC.

WHO PROVIDES WARRANTY COVERAGE ON THE EQUIPMENT?
Mid Continent Capital passes through all manufacturer warranty coverage to the lessee. Warranty claims are processed for the lessee in the same way they would be if the lessee were the owner of the equipment.

MAY NON-EQUIPMENT ITEMS SUCH AS SOFTWARE AND MAINTENANCE BE INCLUDED?
Yes. One of the many benefits of leasing includes the ability to "bundle" a number of equipment items into a lease including software, service and support costs. This way, a lessee can make one, simple monthly payment for an entire system or equipment line.

IS THERE A MINIMUM AMOUNT FOR THE EQUIPMENT COST?
Yes. We only provide funding for leases over $2,000.00.