Lease Finance Details View
First Finance Limited provides lease finance mainly for procurement of industrial machinery, equipment and transport. FFL provides professional advice and financial assistance to the intending clients. The period of lease, rental, charges and other terms and conditions are determined on the basis of type of assets and the extent of assistance required by the applicants. Since introduction of this scheme in 1999, good responses have been received from the intending lessees.
Lease financing became a thrust sector for individual and small enterprise besides medium and large enterprises. FFL has been providing lease finance facility to its customer for acquisition of manufacturing and service equipments for all major industrial sectors. The facility helps the customer to have better financial flexibility under budgetary constraints and to enjoy tax benefit. FFL offers financing vehicles/ CNG conversion/ refueling plant/ sea or river transport, capital machinery/ plant/ equipment/ lift / generator/ boiler, construction equipment/ computer for IT education center, medical equipment etc.
|1||Asset backed financing against industrial machinery, commercial equipments, office equipments, generators, vehicles, vessels, engines, etc;|
|2||Financing may be extended up to 70% of the acquisition cost;|
|3||Usually for a tenure of 1 to 5 years;|
|4||Repayment through monthly rental;|
|5||Legal ownership remains in the name of FFL throughout lease period;|
|6||Ownership is transferred to the client at the end of term.|
|1||Financing against any of the existing(already procured/in-use) industrial machinery, commercial equipments, office equipments, generators, vehicles, vessel, engines, etc;|
|2||The ownership of the asset comes to FFL at the time of financing;|
|3||Financing may be extended up to 100% of the written down value (cost net of depreciation) depending on the condition of the machine;|
|4||Usually for a tenure of 1 to 5 years depending on original date of purchase and current condition of the asset;|
|5||Repayment through equal monthly rental;|
|6||Ownership is transferred to FFL at the time of financing and remains in the name of FFL throughout lease period;|
|7||Ownership is re-transferred to the client at the end of term.|