International Capabilities
Merrimak has an international presence and can collect
in foreign currencies throughout the world. We offer
operating and/or capital leases and can provide our
leasing services for all types of capital expenditures.
Our customers can also benefit from our brokerage
expertise in the secondary market, where we maximize
returns on the resale of customer-owned assets. This
service can be offered as a direct purchase or with a
consignment agreement.
Leasing and Finance
Solutions
Operating Leases:: Merrimak offers standard operating
leases for terms averaging from 12 to 84 months. The
debt rate is established by the credit quality of the
borrowing entity, and the equity investment is
determined by the future value of the asset being
leased. We hold 99% of the transactions we originate,
ensuring flexibility and transparency for our valued
lessees.
Capital Leases:
We can offer capital leases for terms up to 15 years.
Rates are established by the credit quality of the
borrowing entity.
Tax-based Leases: Merrimak offers tax-based leases where
the depreciation benefits and the residual assumption
allow for an extremely low lease rate. To maximize the
benefits of this lease structure, the term should be
equal to or exceed the Modified Accelerated Cost
Recovery System (MACRS) depreciation allowance. Early
termination and early buyout provisions can be
incorporated into the terms for equipment that has a
high probability of retention but requires operating
lease treatment. This structure also alleviates any
uncertainties and ensures flexibility as the buyout
option is capped and the equipment can be retuned under
the FMV provision. It is ideal for larger capital
expenditures and can be written for terms up to 15
years. |
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Merrimak's
Asset Tracking System
iTrack
Customer Login
Contact Merrimak today to see how we can
help with your business equipment leasing and
financing needs.
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Short-term Rental Agreements: We
offer short-term rental agreements for all types
of capital acquisitions. After a predetermined
number of elective payments have been made,
title can pass at lessees’ request.
High-residual-valued equipment allows Merrimak
to take an aggressive risk, creating an
extremely competitive means of acquisition. At
the time of purchase, the all-in PVs are
extremely competitive compared to the risk that
was taken.
Asset Tracking:
Inherent with every lease schedule, Merrimak
offers comprehensive asset tracking through its
proprietary software, iTrack. All data from
every vendor invoice, along with all pertinent
lease detail, is captured through alpha, alpha
numeric, and calendar input, creating unlimited
ways to sort information. The software is web
based and has the option of being installed at
the customer site, providing full autonomy for
our customers. Along with the predefined user
fields there are multiple user-defined fields
customizing the information tracked by each
individual user. The customized fields can be
shared at individual user discretion. The
software has hierarchal levels of access
controlling the flow of information by user,
department, division, and/or location. iTrack
can be used to manage all leased assets
regardless of the lessor through a licensing
agreement.
iTrack
is used to support Merrimak’s remarketing
services for customer-owned equipment. As the
equipment is inventoried upon Merrimak’s
receipt, all pertinent data is entered into
iTrack so our customers can have real-time
feedback for the condition of the equipment,
status of the sale, and payment terms.
A short PDF Demo
or an on-line demo can be arranged for your
review upon
request.
Refurbishment
Centers
Merrimak began as an equipment broker and
continues to maintain strategically located
refurbishment centers, enabling us to offer a
competitive aftermarket for all types of capital
assets. With our remarketing expertise, we can
provide and ensure flexibility throughout, and
at the end of, every lease term independent of
equipment that we lease.
This provides a true competitive edge, as most
other major leasing companies depend on third
parties to refurbish, remarket, and recycle
off-lease equipment. Our remarketing expertise
also enables us to support the corporate
initiative of every major corporation, extending
the useful life of every asset either by resale
or breaking an asset down to its smallest
component size and applying a practical or
innovative way to sustain life. Our corporate
initiative never allows any part of an off-lease
asset to end up in a landfill or offshore, where
control of the disposal is lost. Most leasing
companies outsource this service, and our
in-house capabilities continually prove to be a
differentiator, as we are not at the mercy of
paying a third-party provider who may have a
conflicting agenda.
Case Studies
Merrimak never tries to maximize its returns on
a single transaction.
Recently, a long-term Merrimak customer wanted
to purchase a machine tool that it had leased.
Although the asset was worth 60 cents on the
dollar, Merrimak sold the asset for 24 cents on
the dollar. Being a real partner to our
customers, and providing them with true
satisfaction, is much more valuable to us and to
our lessees than having a windfall on an
isolated opportunity.
Merrimak will rewrite its lease schedules to
support customer needs at no penalty to our
lessees.
Mid-term, one of our valued lessees determined
that the leases we had written needed to be
restructured to achieve operating treatment
according to their new accountant’s criteria. We
rewrote 36 leases and invested additional equity
mid-term with no additional cost to our lessee.
Merrimak has now originated over 200 leases with
the same lessee.
Merrimak has a consistent history of forgiving
damaged and missing parts on returned equipment.
One of Merrimak’s customers had originated a
large laptop schedule. Upon returning the
equipment, approximately 1% of the equipment was
damaged. Merrimak waived the fee for the damaged
equipment. We have remained the primary lessor
for this account, leasing 99% of all their
originations. |
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