An open-ended loan provided by ASA s credit union is available when cash is needed for relatively short periods of time. For larger loans, members can apply for a closed-ended loan which offers an extended repayment period for auto and equipment loans, second mortgages and other investments. Everything about the company s small business offerings is paperless. There are no application fees, the process is done online with approval usually in two to three minutes and the money is available within 24 hours. Customers also choose the vendor themselves.
AXIS specializes in leasing automotive repair equipment from office furniture to paint booths.
Although it has a network of preferred vendors, customers can still choose their own. At the end of the lease agreement, customers can purchase, return or renew the lease. Because of its affiliation with ASA, AXIS customers receive special low-rate leasing options. Generally, leasing is more expensive than taking a loan. The lessor needs to make money as well, so the interest rates may be higher.