MILWAUKEE, Sept. 6, 2012 /PRNewswire via COMTEX/ -- An improving economy has seen an upsurge in new equipment purchases, but understanding the options for cost-effectively making those purchases can be critical to a business's future growth and success, says a report issued today by BMO Harris Bank.
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"Companies have options for equipment procurement, each of which can significantly affect their bottom line," said Jud Snyder, author of the report and Managing Director and Head, BMO Harris Equipment Finance Company, BMO Harris Bank. "There are major advantages - and disadvantages - to either purchasing or leasing, and the implications of either option need to be carefully thought out before a final decision is made."
The report looks at tax implications, depreciation considerations, financing options and cost of capital considerations, as well as other factors that go into the decisions being faced by business owners today in a wide variety of industries.
To access the report, visit BMO Harris Bank's Commercial Resource Center online at https://resourcecenter.bmoharris.com/content/lease-vs-purchase-equipment-critical-decision?free .
About BMO Harris Equipment Finance CompanyBased in Milwaukee, but with offices throughout the country, BMO Harris Equipment Finance Company builds off of the solid reputation and relationships created by M&I Equipment Finance Company, relationships that have been formed over the past 55 years. The team is currently ranked in both the Monitor Bank 40 and Monitor 100 lists of the largest US-based Equipment Finance companies.
About BMO Harris Bank Based in Chicago, BMO Harris Bank N.A. provides a broad range of personal banking products and solutions through over 650 branches and approximately 1,350 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Nevada, Arizona and Florida. BMO Harris Bank's commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the U.S. Deposit and loan products and services provided by BMO Harris Bank N.A. Member FDIC. BMO Harris Bank(SM) is a trade name used by BMO Harris Bank N.A. BMO Harris Bank is part of BMO Financial Group, a North American financial organization with 1,600 branches, and a retail deposit base of approximately $180 billion.
SOURCE BMO Harris Bank