What Are The Financial Process – Basic Steps?

The Basic Steps of the Financial Process are:

• Obtain quote for equipment from qualified vendor
• Credit process (submission of credit application and financial information)
• Legal contract specific to transaction issued
• Lessee executes contract and returns to Sparta with any additional items required
• Sparta obtains vendor invoices and MSOs (where applicable), and verifies insurance coverage
• At equipment delivery, lessee ‘accepts’ equipment and authorizes Sparta to pay vendor on their behalf
• Lessee makes payments directly to Sparta or its assigns in accordance with payment schedule through contract maturity

Related FAQs

• What can be financed on a tax-exempt basis?

  Any personal property equipment or real property essential to the operations of the...

• Is leasing easy?

  We take great pride in ensuring your leasing experience is easy.  Lease purchasing is much easier...

• What types of entities qualify for a municipal or tax-exempt lease?

  For the lease to qualify for the interest exclusion, a lessee under a tax-exempt lease must be a...

• What factors should be considered in deciding whether or not to use a tax-exempt lease?

  When acquiring financing for any asset acquisition decision, the principal financial objective is...

• What is a municipal or tax-exempt lease?

  A municipal or tax-exempt lease agreement allows a political subdivision to use its annual...

• Who owns the equipment under a tax-exempt municipal lease and how is the equipment titled?

  Title may either be retained by the lessor until all payments have been received or may be granted to the...

• What is a non-appropriation clause and why is it needed?

  With a lease-purchase Agreement, a non-appropriation clause enables the lessee to account for the...

• Why lease the equipment?

  Tax-exempt leasing is one of the simplest and most successful ways to purchase essential equipment and...

• What Are The Financial Process – Basic Steps?

  The Basic Steps of the Financial Process are: Obtain quote for equipment from qualified vendor Credit...

• How Do I Obtain a Quote?

  For a detailed quote, please call Sparta Commercial Services, Inc. on our toll-free line: +1 (800)...

• Prev