To help streamline financing for its products, LECO Concrete Forms & Supply—a leading manufacturer of high-grade concrete forming systems in Atlanta—recently launched a new option for its customers through it’s equipment financing partner, Advantage+: it’s called the Equipment Finance Agreement (EFA). The EFA treats the sale of forming equipment as a cash sale; the only difference is that the company will have a lien on the equipment until the loan is fully paid.
The main advantage of this is that the contractor can actually own the equipment instead of spending more on long-term leasing. And since the EFA does not require advance payments, it helps contractors become more flexible in their cash flow management. LECO’s partner Advantage+ still offers lease financing, but it expects most of its customers to prefer the new EFA.