The decision to purchase equipment years ago now potentially threatens a company's impending growth.

CHALLENGE:
A leading apparel retailer was starting to grow rapidly, but a decision made years ago to purchase their cash registers was now an obstacle to the company's impending growth. The company was operating cash registers so old that they could not be upgraded to run the newer applications needed to stay ahead of the competition. The old registers were still on the company's books for $2,000,000+, but they were only worth about $300,000. Because the CFO did not want to take the book loss, he told the IT team to wait a couple years. But the IT team couldn't wait. They needed the new technology to run the newer applications now.

SOLUTION:
LEASENET purchased the existing cash registers from the customer for $2,000,000+. Then LEASENET financed about $3,500,000+ in new registers and upgrades and structured the deal as an operating lease.

RESULT:
The LEASENET solution solved the CFO's book problem, and the IT team received what they needed, when they needed it. The LEASENET solution allowed this company to stay ahead of the technology curve and their competition.

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