Lessee Dependent Progress Payment Product
This product’s use is limited to the Sign and Security industries.TimePayment understands that not all industries can have next day delivery and installation of equipment. We also understand the cash flow crunch you experience if you have to forego a cash-down payment to make the sale, and then wait until the leasing process is complete to receive funding.
Our Progress Payment Product is a funding product that allows you to receive 50% of the leased amount upon TimePayment receiving a completed lease funding package and the rest upon delivery and acceptance of equipment.
A “Lessee Dependent” Progress Payment means the lessee guarantees to pay TimePayment the 50% funded under any circumstance in the event the lease does not start.
Getting StartedA
Lessee Dependent Progress Payment Rider form must be completed by the lessee to use this product.
Please speak with your Business Development Manager for more details.