Frequently Asked Questions:
- Q: What does ARICO do?
A: ARICO is a leading, national source of financing and leasing capital and an advisor for companies in more than 20 industries including many of today's leading industries and emerging businesses, offering vendor, equipment, commercial, factoring, medical, acquisition, consumer and structured financing capabilities. ARICO operates extensively in the United States, partnering with national lenders will provide the capacity and resource for all of your financing needs.
- Q: When was ARICO founded?
A: ARICO was founded in 1989 by Anthony Hsu.
- Q: Where is ARICO's principal office located?
A: ARICO is located at 55 Santa Clara Ave, Suite 177 CA 94610, USA. The main telephone number is (510) 380-8428.
- Q: Whom do I contact for further questions or concerns?
A: Please contact the ARICO Corporate Communications Department via email at
ashu@aricofinancialgroup.com.
- Q: How long does it take to set up a lease?
A: Leasing is very quick. Requests for up to $75,000 can typically be approved in 24- hours from a one
page credit application. Documents can be delivered by overnight express carrier, or e-mailed to the
customer, and a Purchase Order is immediately faxed to the vendor once documents have been received.
- Q: What kinds of equipment can I lease?
A: Most kinds. ARICO specializes in hi-tech specialty equipment such as computer, audio/video, or printing, but we will finance most anything. This may include furniture, software, commercial vehicles, machinery and most other equipment types including soft costs associated with equipment purchases.
- Q: Does the equipment have to be new?
A: No. We can lease previously-used equipment as well as new equipment.
- Q: What is the buy out?
A: ARICO gives you a variety of options which include One Dollar Buy Outs, FMV (Fair Market Value),
10% Purchase Options, and other options available.
- Q: What is my rate?
A: Your rate is determined based on credit history, equipment cost, and term structure.
- Q: Are my lease payments a tax write off?
A: Most typically the Internal Revenue Service will let you write off 100% of your lease payment on a
FMV or True lease. To be certain, ARICO recommends that you consult your accountant for specific
application to your business.
- Q: Are lease rates variable?
A: No. Lease rates and terms are fixed.
- Q: What is the minimum?
A: Approximately $5,000.
- Q: How long do I have to be in business?
A: Most programs require a minimum of two years in business. However, exceptions can be made based on the credit strength of the company. ARICO also has a program for start-up businesses that have been established for six months. Sole proprietors can prove time in business either by showing income on a Schedule C of a tax return, or by verification of a business checking account.
- Q: How is ARICO Financial different from my bank?
A: At ARICO Financial, we 1 ) create a competitive environment that forces capital sources to compete for the borrower's loan. 2 ) to manage the transaction workflow so the borrower can focus on executing their business plans and 3 ) our process is simple, streamlined and efficient. In most cases, we can approve a loan within 24 hours.
Banks are constrained by loan products, underwriting guidelines and provide only limited assistance
managing transaction workflow that don't necessarily fit the borrower's needs. Banks usually transfer as much risk as possible onto the borrower while maximizing their profit.
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