By GPM, Inc. on May 16, 2016 3:00:00 PM
Duluth, MN: GPM, Inc. (GPM) announced a new pump leasing and financing program designed to enable customers to obtain new GPM-EliminatorTM pumps without incurring immediate capital expense. Tax and equipment finance leases are now available for qualified customers through a partnership with Northland Capital Financial Services.
“This program will be valuable for many existing and new GPM customers,” stated Rob West, CEO of GPM, Inc., “The application process is simple and cost-effective, and the interest rates are very competitive. Most importantly, it preserves capital.”
Any GPM-EliminatorTM pump or pump system is eligible for the leasing program. Term lengths are available for 24, 36, 48 or 60 months. Northland Capital will own the equipment during the lease and at the end of the term the customer owns the equipment. Depending on the size of the purchase, applications may be processed in as little as 24 hours, but rarely more than three days. GPM’s industry-leading one-year warranty applies to leased pumps just as it does to direct purchased pumps. There are two options available:
Tax Lease
- Works like a car lease
- Monthly payment from 24 to 60 months, customer decides
- Customer takes the cost as a direct (operating) expense
- No depreciation expense
- At the end of the lease term: Customer owns equipment outright usually for $100 or less
Equipment Finance Lease
- Works like an equipment loan
- Customer takes the depreciation – Consult your tax advisor and see if Section 179 of the Tax Code applies, which means customers can accelerate depreciation schedules on new capital equipment up to a $500,000 cap
- At the end of the lease term: Customer pays a low fee (usually $100 or less) to get the title for the equipment
For more information and to apply, contact GPM at 218-722-9904, or download the leasing sheet at: www.gpmco.com/lease.
