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First South Leasing

Understanding Leasing

First South Leasing, LLC was created to meet the growing demand for a community bank to offer these services. Leasing has become a popular financing option for businesses that need to acquire machinery or equipment without having to tie up cash or unnecessarily draw down an existing credit line. Our Leasing Programs are especially practical if your business uses equipment that becomes outdated before it’s paid off.

At First South, you’ll find the experience and expertise to determine your needs and the most effective solution to reach your goals.

Benefits of Leasing

  • Provides for 100% deductibility of costs
  • Frees working capital for other uses
  • Offers fixed payments
  • Leaves bank credit lines open for other uses
  • Usually lower after-tax cost than purchasing

Which lease is right for your business?

It’s important to know and understand the different tax benefits and advantages of each type of lease before making any decisions. Our Leasing Consultants can help you determine the best solution for your business.

  • Capital leases have stated residuals with a nominal purchase option price, often as low as $1. For tax purposes, capital leases allow your business to depreciate the cost of the equipment and expense the interest portion of the payment.
  • Operating leases differ from Capital leases in that the purchase option price is the fair market value of the equipment at the end of the lease. For tax purposes, Operating lease payments are expensed by the customer, and the equipment is depreciated by the bank.

Contact a Leasing Consultant today! Our toll free number is 1.800.845.6576.

 Apply for a lease. 

First South Leasing, LLC is a wholly-owned subsidiary of First South Bank.

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