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Eight reasons why leasing equipment for your business can give you an advantage.

1. Asset Management

Leasing allows your company to gain timely access to the most efficient and cost-saving equipment needed to maintain your competitive edge.
 

2. Cash Flow

Leasing helps your company conserve cash through lower monthly payments. Cash and bank lines can be conserved for operating needs, payroll expenses and future expansion.
 

3. Improved Performance Ratios

Leased equipment meeting certain Financial Account Standards Board criteria can be treated as an operating expense, rather than appearing as an asset or liability on the balance sheet, and is typically fully tax deductible.
 

4. Tax Planning

Lease payments can be claimed as a tax deduction that is often a larger deduction than traditional financing allows. Leasing can also help minimize AMT and Mid-Quarter Convention implications.
 

5. Convenience

It is generally easier for your company to meet your capital acquisition needs via lease finance. The credit criteria and structures are generally more flexible than other forms of lending.  
 

6. Preservation of Working Capital

100% financing and lower monthly payments reserve precious cash resources for other areas of your business.  
 

7. Flexibility

The lease term can be tailored to match the useful life of the equipment, and payments can be structured to assist with
your business cycle.  
 

8. Low Technological Obsolescence Risk Factor

An operating lease structure can provide you the maximum tax benefits, lower your overall operating costs and simplify record keeping for tax purposes, budgeting and cost controls. It can track your acquisitions, keep you on schedule for new equipment, and eliminate the complication of equipment disposal.
Frequently Asked Questions

With your business in mind, North Shore Bank has updated our business checking accounts. All accounts provide you with the benefits and features you deserve, including a low minimum monthly balance requirement that helps you avoid monthly service charges.

If you have questions about your account or would like to discuss other account options and features, please contact a North Shore Bank Cash Management Representative at 800-270-7956 during normal business hours.


The new checking account minimum balance requirements and free transaction counts can be found on our Business Services and Fees document. These requirements are effective as of May 1, 2021.

If you have questions about your account or would like to discuss other account options and features, please contact North Shore Bank Business Banking Customer Support at 800-270-7956 during normal business hours.

 


We offer business loans. Please call one of our Business Loan Officers at an office near you.

Find a North Shore Bank office, ATM or loan center near you.


View our Business Account Opening Checklist to find out what you'll need to provide prior to opening a Business Banking account.


North Shore Bank offers a Business Debit Card Reward program and when a Business signs up for the Easy Savings program, you will receive an automatic rebate posted to your card’s account when you use your North Shore Bank Debit Mastercard at any of the participating merchants.


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Contact us with additional questions: Email | 877-672-2265
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