Category Archives: Customer News

Watch Out For This Potential "Hidden Clause" of You're Next Lease Contract!

There are some pretty sketchy practices in the equipment finance industry. Since financial services are complex and have lots of funky terms that industry "outsiders" don't necessarily understand, most segments of the industry have a certain amount of bad seeds running around. However, bigger industries like mortgage and insurance are pretty tightly regulated, so when someone is caught breaking the rules, they tend to go to jail and get their name in the newspaper. Equipment leasing companies aren't regulated at all, so it's a lot easier to scam you when you are financing equipment than in a lot of other areas. For many finance products, it's pretty safe to just go with a bigger company - the guys who use Snoopy to sell you insurance aren't as likely to be crooks as the...

4th of July Is Independance Day

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Drafted by Thomas Jefferson between June 11 and June 28, 1776, the Declaration of Independence is at once the nation's most cherished symbol of liberty and Jefferson's most enduring monument. Here, in exalted and unforgettable phrases, Jefferson expressed the convictions in the minds and hearts of the American people. The political philosophy of the Declaration was not new; its ideals of individual liberty had already been expressed by John Locke and the Continental philosophers. What Jefferson did was to summarize this philosophy in "self-evident truths" and set forth a list of grievances against the King in order to justify before the world the breaking of ties between the colonies and the mother country.

Why Leasing Rates Matter Less Than You Think

Unless rates are outrageous, it makes very little difference what actual rate you pay for your equipment. Take someone financing a trencher for $75,000.

If you bought new equipment from a dealer and were approved at a 5% rate over 5 years, your payment would be about $1,400 a month (depending on total of dealer fees).  If you didn't use dealer financing, but did used a third party leasing/finance company (with good credit) your payment might be $1,600 a month or so, a difference of $200 a month. Here's the deal - unless the amount of money you plan to make monthly from having that trencher is significantly more than $1,400 (or $1,600), you shouldn't be buying the trencher anyway. Most of the time, when we talk to people about buying a $75,000...

Tulsa Cancer Institute Attains Leed Certification

In 2011 Empire Finance worked with TCI to provide funding for their state of the art flooring and radiotherapy treatment rooms. We are excited to be a part of their Leadership in Energy and Environmental Design! To receive LEED certification, projects must meet certain standards and earn points to achieve different levels of certification. Tulsa Cancer Institute’s LEED certification application has been in the review process since they moved in during the summer of 2013, but is now approved, making the building LEED certified. Sustainable features include bicycle storage and changing rooms for staff and visitors, roofing materials that act as a high solar reflective index to minimize heat and native vegetation surrounding the building which equals half of the project...