Equipment Leasing

Your Business is Fully Equipped to Grow.

First Litchfield Leasing Corporation is a subsidiary of Union Savings Bank specializing in helping your business secure new equipment or vehicles without the high cost or uncertainties of ownership. Our seasoned staff of industry professionals work closely with you to understand your business needs and then construct an innovative leasing solution that meets them.

Why Lease?

Can you afford to upgrade? Can you afford not to? Growing your business means ensuring your equipment and technology is up-to-date. However, you must constantly balance the substantial expense with the potential return on investment. Many times, the high cost of purchasing can put your growth plans on hold. Leasing through First Litchfield helps remove some of the financial barriers to acquiring the equipment you need to upgrade technology, expand your facility or move to a new one.

• Upgrading for Less - Offers a lower cost alternative to traditional equipment financing, conserving working capital for other important business needs.
• Accounting Flexibility - Structured to qualify as on or off balance sheet, depending on your needs.
• Tax Advantages - Some leases allow you to retain the tax benefits of ownership.
• Return on Assets - Leases can have a positive effect on ROA when evaluating profitability.
• 100% Financing - In some cases, you can lease equipment without the sizable down payment common to ownership.
• Preserving Line of Credit - A lease will allow you to save your line of credit for any unforeseen or short-term expenses
• Fixed Payments - Leasing permits scheduled payments and protects against rising interest rates.

Main Types of Leases

• Tax or "True" Lease - Your monthly payments are lower because the lesser retains the tax benefits of ownership.
• Finance or "Synthetic" Lease - Structured so you retain the tax benefits of equipment ownership.
• Terminal Rental Adjustment Clause (TRAC) Lease - Special leases for vehicles with provisions that allow you to purchase the vehicles at their residual value.

Common Lease Structures

Leases can be structured in many ways, taking into account your individual accounting, tax and cash flow needs.

• Operating Lease - Financed as off-balance sheet transactions
• Capital Leases - Treated as a loan for accounting purposes
• Lease CAPEX Facilities - Lease line for equipment acquisitions
• Municipal Leases - Allows lease to qualify as tax-exempt

Lease Terms

Flexible. Creative. Determined. We are committed to finding a leasing solution that equips your business, whatever your specific needs and financial position are.

• 3-10 year terms for most collateral types and structures.
• Advance rates up to 100% of original cost or current value.
• Sufficient and predictable cash flow coverage.
• Balanced and sustainable financial trends.
• Assets financed or leased preferred to be integral to the business operation.
• Competitive pricing using fixed or floating rates.

To learn more about our innovative leasing solutions, contact:

Glenn R. Mason
President
860.626.7714
gmason@unionsavings.com

Linda M. Parady
Vice President, Operations
860.626.7715
lparady@unionsavings.com

First Litchfield Leasing Corporation
1057 Torringford Street, Torrington, CT 06790