This is a popular option for doctors and other professionals who want little to do with setting up an office. Equipment consultants generally specialize in one industry and can be found in the yellow pages under that specific industry. They are particularly advantageous when a small business owner requires equipment from a variety of different suppliers. The route a small business owner chooses to procure equipment and leasing depends upon how extensive his equipment needs are and how much of his time and resources he wants to devote to the project. The more complex the arrangement, the more advantageous it is to use an outside resource, such as a consultant or value-added reseller.
Banks offer a couple of more flexible options than leasing companies.
For instance, if the business owner knows what type of equipment he needs, he can negotiate a price directly with the vendor. Then the bank will purchase the equipment and arrange the lease payments with the lessee. In a case where the owner hasn't yet determined his equipment needs, he can first approach the bank and get a preapproved line of credit, and then go out and shop for equipment. As a general rule, most bank leases require that the equipment be purchased at the end of the lease for either a nominal fee or at market value. The lessor pays for the equipment, and the owner begins to make lease payments.