Industry challenges
Different checklist per lender
CIT requires a UCC-1 filing, LEAF requires a personal guarantee form, De Lage Landen has its own checklist...
Authorization to sign
Is the signatory an authorized officer? Is the corporate resolution dated before the agreement?
Amount matching
The lease payment must match the financing agreement down to the dollar.
Business verification
Does the installation address correspond to an active business location on file with the Secretary of State?
Documents processed
- —Equipment lease agreement (CIT, De Lage Landen, LEAF, GreatAmerica)
- —Financing agreement
- —Vendor quote / invoice
- —Articles of Incorporation / Certificate of Good Standing
- —Signatory ID (Driver's License, Passport)
- —Corporate resolution or authorization letter
- —Bank account details (voided check or bank letter)
- —Payoff statement (if upgrading or renewing)
Automatic validations
- ✓Lease payment = financing agreement amount (within $1 tolerance)
- ✓Identical payment schedule (monthly/quarterly)
- ✓Signatory = authorized officer OR valid corporate resolution
- ✓Installation address = active business entity (via Secretary of State lookup)
- ✓Valid government-issued ID
- ✓Bank account in same name as lessee entity
- ✓Prior contract number referenced if payoff statement present
Rules by partner
ID required
CITIf sole proprietor
De Lage LandenAlways
LEAFAlways
GreatAmericaAlways
UCC-1 filing
CITRequired
De Lage Landen-
LEAF-
GreatAmericaRequired
Personal guarantee
CIT-
De Lage LandenIf <5 years in business
LEAFRequired
GreatAmerica-
Good Standing < 90 days
CITIf sole proprietor
De Lage LandenIf sole proprietor
LEAFIf sole proprietor
GreatAmericaRequired
| Document | CIT | De Lage Landen | LEAF | GreatAmerica |
|---|---|---|---|---|
| ID required | If sole proprietor | Always | Always | Always |
| UCC-1 filing | Required | - | - | Required |
| Personal guarantee | - | If <5 years in business | Required | - |
| Good Standing < 90 days | If sole proprietor | If sole proprietor | If sole proprietor | Required |
Measured results
93%
time saved
100%
coverage
0
avoidable errors