Stearns Bank Equipment Finance Division has been providing new and used equipment financing solutions nationwide since 1976. Work with our industry experts to develop a customized package for your specific finance or lease needs. Some of the industries we specialize in include:  Specialty Vehicles, Fabrication & Machine Tools, Agriculture, Health Care Equipment, and Woodworking Equipment. You will enjoy our attentive personal service and fast turnaround. We get the job done!

Leasing Benefits

  • Minimize initial cash outlay
  • Preserve bank lines of credit
  • Conserve working capital
  • Provide tax opportunities
  • Provide fixed rate payments
  • Avoid technological obsolescence

Lease Vs. Cash

Leasing can actually save money when you account for your tax liability. That’s because your lease payments are made with pre-tax dollars and cash purchases are made with taxed income. In the long run, paying cash ends up costing more than if the equipment is leased. Here’s an example to explain:

1. Equipment Cost $15,000
2. 30% tax bracket converted to a decimal = .70
3. Divide .70 into the cost of the equipment
4. Total paid for equipment after tax = $21,429
5. Paying cash vs leasing ends up costing you $6,429 more