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Learn more about Advance Acceptance and the equipment finance industry by checking out our finance resources page.
Finance 101: ID and Data Security Data security is becoming more critical during the digital age. With the easy access to data and records, it’s important to be aware of common data security topics, such as phishing, predatory lenders and creating strong passwords. Phishing Scams Phishing scams are another threat to those using email for […]
Intelligent Ag Solutions Partnering with Advance Acceptance to Offer National Finance Programs EDEN PRAIRIE, Minn. – Advance Acceptance, a division of First Western Bank & Trust, announced today a partnership with Intelligent Ag Solutions (Intelligent Ag) to offer equipment finance programs for agricultural customers. “We’re excited to offer flexible financing and payment options to help […]
With the help of our Insurance Manager, Marilyn Hankerson, we’ve put together a basic insurance overview of what your customers can expect after purchasing equipment with financing. Just like an auto loan or lease, equipment being financed through a lender (Advance Acceptance) must carry insurance. Oftentimes, businesses and other organizations have policies that cover the […]
When does the insurance certificate need to be in to Advance Acceptance?
We prefer that the certificate be sent in with all other documents sent to the account manager. If that isn’t possible, as soon as possible thereafter, to make sure that customers are protected from loss or damage.
Will Advance Acceptance contact the agent?
We will follow-up with the agent to obtain the correct documents, but the customer must make an initial contact with their agent to add the equipment to their policy.
Additional information can be found here.
Advance Acceptance offers a large variety of financing options. We offer EFAs (equipment finance agreements), purchase-option leases, and municipal leases. We also offer flexible terms, such as seasonal and deferred payment options.
EFA stands for equipment finance agreement. Unlike a lease agreement where the lessor retains ownership of the equipment and the lessee may have the option to purchase at the end of the term, under an EFA the borrower retains ownership of the equipment financed throughout the term of the agreement.
An EFA may be the perfect solution for those who have experienced a difficulty regarding the end of term payment price, at the end of a lease agreement in the past. With an EFA, since there is no purchase option, there is no difficulty — you already own the equipment.