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Blue Chip Leasing Atlantic: Equipment financing for Atlantic Canadians, by Atlantic Canadians
Published in March 2011 edition of the New Brunswick Business Journal By Joan LeBlanc
Understanding the financial needs of Maritime businesses is key to the service provided by Blue Chip Leasing Atlantic. A provider of equipment lease financing for small and medium businesses, since September 2010, the company has had its headquarters in Quispamsis, located at 2 Clarwood Drive.
Addressing the need for available financing for Maritime businesses in September 2010 Blue Chip Leasing Atlantic became an agency of Blue Chip Leasing Corporation, a Canadian company in business for more than 15 years , which has, over the past five years, been recognized as one of this country’s fastest growing equipment leasing companies.
“There are so few home-grown Atlantic Canadian companies to go to today for financing. It’s often hard, especially for new or smaller businesses, to get financing to acquire the type of assets they need to grow their business profitably. Some of the larger financial institutions don’t understand us, they don’t realize the specific needs of Maritime businesses,” says owner and president, Larry Hachey.
He explains that leasing equipment provides a number of advantages for most companies including up to a 100 per cent business tax write-off, and being able to pay as they use the equipment while reaping profits/efficiency from that use. And although other countries have long since realized the benefits of leasing business equipment, Canada has been a little behind in adopting the practice, with the eastern provinces just now beginning to strongly embrace this viable option.
“In Atlantic Canada there hasn’t been the options; until now there have not been a lot of companies offering that sort of capitalization that we need, and that’s what we’re hoping to fill here at Blue Chip Leasing Atlantic,” Hachey notes.
With more than 25 years of experience in equipment leasing finance in Atlantic Canada, Hachey and his staff are always up-to-date on the financial landscape, each and every day, so are able to provide competitive financing costs to their clients.
“We’re bringing it all together with a brand-new company in the Atlantic region which offer capital options that have been underutilized in the marketplace until now,” he adds.
Recognizing that companies need efficient, timely service when it comes to acquiring business equipment, Blue Chip Leasing Atlantic provides fast, professional service every time.
“The customer chooses the equipment supplier of their choice and negotiates their best price. All we need is a basic credit application and with that information we can usually get back to a client within three or four hours. With that approval we send out a purchase order to the preferred equipment supplier and because they know who we are they will release that equipment promptly. So it’s very possible that a customer can make a credit application in the morning and have his or her equipment in place that afternoon. Banks have a hard time matching that level of service,” Hachey says.
For more businesses this translates to a larger window of opportunity for accumulating profits based on the prompt availability of essential equipment. In addition to competitive leasing rates, Blue Chip Leasing Atlantic also includes a purchase option clause with each transaction.
“Given that there are many variables within any contract, our overall cost of financing is in line with banks and other financial institutions, but unlike them, we are quick and painless,” he adds.
Blue Chip Leasing Atlantci currently offers equipment leasing financing to New Brunswick and Prince Edward Island through its Quispamsis office, with additional offices in Nova Scotia and Newfoundland to open soon.