Advantage Leasing is an equipment financing company founded in 1992 in Milwaukee, Wisconsin. It now refers to itself as Advantage+ after the company decided to change its name in 2014. The company specializes in the leasing and financing of business equipment for manufacturers, franchises, restaurants, and distributors across the United States. The company does not offer any other lending options, such as SBA Loans or lines of credit.
The company provides a full list of trusted lenders it works with on its corporate website. Full details are disclosed on the website and the company is transparent with its loan application process. Interest rates appear to be low for the industry and payback terms are under two years. Borrowers are also able to calculate monthly payments based on the length and amount of the desired equipment lease. The company also does not charge closing fees and no prepayment penalties.
Third-party reviews regarding the company's customer service experience are mainly positive. The financial services company also offers results from surveys conducted with past customers for the last six years. The company also spotlights customer service experiences on its website.
Borrowers are only able to apply for funding for equipment only up to $200,000. This amount may not be enough and other types of funding may also be needed for some business types. Companies who do not require an equipment loan or need more than their $200,000 will need to look elsewhere for their loans.
Small business owners are required to be operating for three or more years, which is a lengthier time than required by many other online lenders. Companies that have been in business under three years will need to find another company to receive an equipment loan through.
While customer reviews are mainly positive, a couple of complaints have been posted online that may be of concern for a potential borrower. One customer has issues with credit inquiries that the company acknowledged was its fault. The company stated in an online response on Yelp that the issue arose when a customer service representative failed to follow through "in a timely manner." Another customer overpaid for leased equipment, which the company attempted to resolve to the customer's satisfaction.