Tips to Renegotiate and Restructure Equipment Leases and Loans

If your business cash flow is tight and you need some breathing room, consider restructuring your equipment leases and loans. It is always possible to negotiate your existing lease contracts. The biggest reason leasing companies don't change contract terms is because they are never asked to make modifications. If you don't ask, you don't get.

Here are 10 tips to renegotiate your equipment leases and loans.

1. Call the leasing company if you are behind in making payments. Keep communication lines open.

2. Avoid late payment penalties. They can be as high as 10% of the lease payment. They add up quickly and are cumulative.