Storage Business Owners Alliance LLC (SBOA), a buying group for the U.S. self-storage industry, has partnered with Lease Corp. of America (LCA) to provide equipment-financing solutions to its members. LCA offers financing on HVAC systems, golf carts, keypads, office furniture, security systems, storage units and other items, according to a press release.
Financing includes fixed-payment options, zero-down availability and potential tax savings under Section 179 of the Internal Revenue Code, which allows taxpayers to deduct the cost of certain property as an expense when the property is placed in service. LCA offers credit-turnaround times of less than four hours on applications for up to $150,000. A $1 purchase option allows customers to own equipment at the end of the term, the release stated.
SBOA members can take advantage of pre-negotiated discounts on goods and services from more than 30 preferred vendors, including SBOA Merchant Services and SBOA Tenant Insurance. The company has more than 7,000 member facilities.
Founded in 1988, LCA provides flexible leasing and finance programs to resellers, distributors and manufacturers. Since its inception, the company has booked and serviced more than 88,000 leases, with an original equipment cost of more than $1.2 billion, according to its website.