RC Leasing and Consulting LLC
Edward Mann, Principal
After having had a cup of coffee in the music business, Ed was drawn to the family automobile dealership which was the largest volume Dodge dealership in the country (during the 60’s and 70’’s virtually every medallioned taxi was came from the dealership).
His initial foray into the finance business occurred in 1990 when he started RECOM, a transportation leasing company. RECOM ultimately became one of the largest truck originators in the Northeast. It was there that, that Ed created an automobile/retail wholesale program for Bombardier Capital.
Ed then created a vendor program for American Express’ office products division which later was sold to Key Bank.
RCL&C opened for business in 2002. Since then the company has created programs for doctors, surgery centers, and hospitals all over the United States and now Ed is creating a new program for restaurants and kitchen equipment. RCL&C’s vast underwriting capabilities are already providing capital to restaurants (even in the current distressed market). The company is the preferred leasing company for Myer’s Kitchen Supply, one of the country’s largest purveyors of kitchen equipment.
Information about Ed you might be interested in:
Ed was a featured actor in the original cast of Soap Box Theater’s production of Speakeasy. Ed and his dear friend, Dr. Neil Strickman, coached Little League baseball for many years in Farmingdale, Long Island. He currently lives with his girlfriend, Jenipher, in San Francisco. His favorite pastimes are basketball and wine tasting (and drinking). He is never ashamed to tell anyone that he was the first ballboy in the history of the NBA Nets.
What People Are Saying
“We have used RC Leasing for several of our projects for financing both equipment for our surgeons and for surgery centers.
Ed Mann, President of the firm, works quickly and thoroughly through the process. He is creative in molding the financing to the needs of the doctor and the facility given his vast experience handling financing over the years. It is a pleasure to work with a firm who has such expertise and gets results for proper financing of health care projects, especially in the current economic environment.”
— Robert J. Zasa, Managing Partner, ASD Management Surgery Center Management and Development Company Pasadena, CA
“Ed Mann and RC Leasing have a long-standing reputation within the equipment leasing industry throughout the United States. Ed has developed into a sound and secure source of equipment lease financing at the best possible rates. He is reliable, responsible and respects his clients wishes. RC Leasing is one of the few companies that really does try to find a way to get the deal done. Ed Mann has an extensive data base of lenders who work well with him, trust him and develop financing through him.”
— Irving Ayash, President, Ideal Management Company New York, NY
“Throughout my 30-plus years of working in health care industry as an owner of both medical manufacturing and service companies, I have worked with numerous leasing companies. In my experience, most over-promise and under- deliver. Ed Mann and RC Leasing are an exception to the rule. I have known Ed for almost 15 years and a pleased to say that when Ed promises you something it gets done. Ed is aggressive and creative in his approach and always has the customer’s best interest in mind. I would highly recommend Ed and RC Leasing to anyone.”
— Tim Miller, WasteMedX, Carmel, IN
“In using a financial strategist, one must realize that although the situation is very competitive, an experienced planner is of paramount importance. Ed Mann and RC Leasing not only excels in his insight but also has the personality and fortitude to seal the deal. In arranging financial support for our group he has enabled us to move our practice forwards with peace of economic mind. With his arrangements we have been able to buy equipment, pay off loans, and continue with cash flow without any worries.”
— Neil E. Strickman MD, Partner, Hall Garcia and Associates.
FAQ
What equipment can I lease?
Just about any commercial equipment for use in business, government, or non-profit institutions. The list is extensive.
What dollar amount can I finance and for what term?
Our minimum lease size is $2,000. RCL (application only) is valid up to $100,000. Our commercial lease programs run from $50,000 to $5,000,000.
Are there any “application fees, closing costs or points” with RC Leasing?
Not typically. Unlike most banks we do not add points or closing costs.
Does the equipment have to be new?
No. We provide lease financing for used and/or new equipment - in fact, we can even buy back equipment recently purchased for cash and lease it back to you to free up cash!
Who is responsible for insuring the leased equipment?
This is the lessee’s (your) responsibility. You will be asked to provide proof of insurance coverage.
Do I need “perfect credit” to get a business lease?
Not usually. We can deal with a wide variety of credit challenges - past slow pays, past paid liens, an occasional charge-off, even an older, adjudicated bankruptcy! We will look closely at your payment since the credit issues were first reported for evidence that you have gotten your finances back in order. (Our goal is to find reasons to make transactions work.)
On a Capital Lease, who takes the depreciation on the tax returns?
The depreciation is taken by the LESSEE.
In a True lease/FMV lease, who takes the depreciation?
Typically, the lender takes the depreciation.
