Saturday, June 5, 2010

Is there a difference between an Equipment Finance Agreement and a lease?

There's a big difference.  If you take a loan through an Equipment Finance Agreement, or EFA as it's known in the biz, then you own the equipment outright, even though it serves as collateral.  When the EFA is paid off, the equipment stays with you.  With a lease arrangement, the equipment is owned by the lessor, and returns to them when the lease expires. 

Need more information? Newspaper archives are one of the best online research tools.