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LeaseMan is Windows based software, providing lease pricing and deal structuring for equipment lessors. LeaseMan is particularly targeted to serving the needs of tax-based pricing in the middle market sector.

S.B. Associates, Inc., has been providing software to the equipment leasing industry for over 20 years. Our customers are typically regional banks, lease brokers, or independent finance companies, as well as the captives of several Fortune 500 companies, and are most often engaged in a mix of both tax-based and nontax-based middle market leases. Users within these companies are typically within the sales and marketing areas, although the software is also often used to support accounting and tax reporting.

LeaseMan software provides a complete set of pricing, analysis, and deal structuring tools. A full suite of reports includes pricing, investment summary, FAS accounting reports, tax reporting, termination & casualty reports, and much more. The software is suitable for desktop PC's, laptops, or server-based installations, and can be run on any 32-bit Windows platform, including Microsoft XP and Vista.

Cost: The annual license fee for the LeaseMan software is only $1,250 for a single-user license.

Call 508-358-5828 for more information, or if you prefer, send us an email.

Click here to download a free evaluation copy of the LeaseMan software. version 4.06h (2,652 kb)
Licensed users: Click here to download the most recent version of the LeaseMan software. version 4.06h (2,652 kb)

View a Guided Tour of the software.

Sample screen shots:
Main screen
Summary of results
Summary of assumptions
Targeting instructions
Cashflow report
Rental Stream
Interim Rent
Tax Assumptions

List Of Features
  • INTUITIVE, BUILDING-BLOCK APPROACH – Easy to use “building block” approach allows you to include exactly the pieces you need for a given lease deal. Some deals might require 2 or 3 separate asset fundings. In another deal, you might want to break the depreciation into multiple separate categories. You have the freedom to combine exactly the elements you need in any situation.

    Most users keep default settings for the various types of deals they most frequently engage in. That way, when for example a certain kind of truck deal comes in, or a deal for a certain category of investor, you can just click on a single button and instantly bring up all the settings for that type of deal. Then you just need to modify the assumptions to fit your specific deal.

  • SPEAKS YOUR LANGUAGE – Easy to use Windows interface, using familiar leasing terminology.

  • PLAIN ENGLISH SUMMARY – A professional looking plain English deal summary report is available for investors, showing all the important assumptions and results (see sample screen shot for “Assumptions”).

  • SHARE WITH NON-USERS – LeaseMan reports can also be provided electronically (in standard HTML format), enabling anyone even without the LeaseMan software installed on their pc to view the results using only a standard browser.

  • FUNDINGS – Multiple closings and asset takedowns supported.

  • RENT STRUCTURES – Monthly, quarterly, semiannual, or annual payments. Rents in advance or arrears, or structures such as “first and last two rents in advance”. Unlimited number of separate rental steps allowed.

  • RENT HOLIDAYS – Allows for skipped or seasonal rental payments.

  • AUTOMATIC RENT STEPS – All rent steps can be automatically adjusted proportionately by the program. For example, you can target yield and let the program solve for rents that preserve a 90-110 structure.

  • RENT OPTIMIZATION – Rent steps can be optimized by the program, creating so-called “sawtooth” rental structures. Rent optimization is compatible with all targeting options.

  • RENTS TO PASS OPERATING LEASE TEST – Automatic rent steps can be solved for to pass FAS 90% test when certain rents must be fixed.

  • SECTION 467 – Deferred rental agreements subject to IRS section 467 supported.

  • YIELD METHODS – Choices include multiple investment sinking fund method, single investment sinking fund method, or internal rate of return. Can be calculated either daily or monthly.

  • CALENDAR BASIS – 360 or 365 day options.

  • SECURITY DEPOSITS – Supports security deposits, either with or without accrual of interest.

  • MULTIPLE LOANS – Multiple non-recourse loans or tranches may be present in a single lease structure.

  • FLEXIBLE DEBT AMORTIZATION – Can be specified as level payment or specified payment amounts, level principal reduction or specified principal payment amounts, or interest-only payment periods, balloon payments, or combinations of the above.

  • PREPAYMENT PENALTIES – Optional early prepayment fees on loan balances can be included.

  • DEBT OPTIMIZATION – Powerful optimization routines are standard.

  • OPTIMIZATION CUSTOMIZATION – Can optimize structure to maximize yield, minimize rent present value or lease rate, minimize residual required to achieve yield target, or maximize fee while preserving yield and/or net present value.

  • OPTIMIZE STRIPS – Allows optimization of a partial strip of debt, leaving other debt payments fixed. For example, fix the first 12 debt payments and the last balloon payment, and optimize the remainder.

  • TARGETING OPTIONS – Targeting for yield, after-tax cash profit, equity, pre-tax cash, implicit lease rate, net present value.

  • RECAPTURE OF TAX CREDITS – Automatic recapture of federal or state tax credits where applicable, or recapture feature can be turned off.

  • PARTIAL PERIODS – Initial interim period may include a fractional portion of a full period.

  • SPECIFIED COVERAGE RATIO LIMITS – Coverage ratios can be specified for all or a portion of lease term, so that debt service will not exceed a given percentage of rentals. Specified coverage ratios are supported even when simultaneously solving for both rents and debt service.

  • INTERIMS AT DAILY RENT FACTOR – Interim rents can be specified as being linked to the daily equivalent of the base term rental factor. This feature is supported even when simultaneously solving for the base term rent.

  • INTERIMS AT IMPLICIT LEASE RATE - Interim rents can be specified as being calculated at a rate equal to the base tem implicit lease rate. This feature is supported even when simultaneously solving for the base term rent.

  • INTEREST-ONLY INTERIMS – Interim rents can be specified as being equal to the interest due on any corresponding interim period non-recourse loans. This feature is supported even when both the base term rent and the amount of non-recourse debt are being simultaneously solved for.

  • ADVANCE PAYMENT OF INTERIM RENT – Interim rent can be specified to be paid either at the beginning or the end of the interim period.

  • CAPITALIZED INTEREST – Interest on interim loans can be either paid at the end of the interim period, or can be “rolled over” and capitalized into a subsequent term loan.

  • TAKE OUT FINANCING – Interim or term loans can be refinanced at different interest rates at various points in time during the term.

  • FLEXIBLE TAX PAYMENT METHODS – Choice of current year method, estimated annualized method, or prior year taxpayer methods. Also, two methods supported for monthly or quarterly parent-sub reimbursement of tax benefits.

  • PARTNERSHIPS – Partnership tax accounting.

  • SHORT TAX YEARS – Short first tax years supported.

  • FISCAL YEAR – Non calendar fiscal years supported. Also, consolidation of a partnership with one fiscal year into a partner with a different fiscal year.

  • LOSS CARRYFORWARD – Optional analysis with carryforward of tax loss for any specified number of years.

  • FAS 13 EARNINGS – Book earnings according to FAS Statement No. 13.

  • CONDITIONAL SALES AGREEMENTS – Non tax-oriented or money-over-money lease agreements also supported.

  • INITIAL DIRECT COSTS – Lessor initial direct costs supported for book income.

  • ACCELERATION OF EARNINGS FOR PARTIAL MONTH – Allows user to specifiy 0-30 days of earnings accrual in the first month for book reporting.

  • AMT – Supports alternative minimum tax calculations.

  • TERMINATION OPTIONS – Termination or stipulated loss values can be calculated to preserve net book value, economic yield, or both.

  • RESIDUAL UPSIDE – Additional residual value, beyond booked residual, can be included in calculation of termination or stipulated loss values.

  • ADMINISTRATIVE EXPENSES – Optional fixed dollar administrative expense on termination can be included in termination or stipulated loss values.

  • STAGED EQUITY – Staged equity or investor equity notes supported.

  • EARLY EQUITY – Early equity infusion or escrowed equity supported, with or without accrual of interest on deposits.

  • EARLY IN-SERVICE – Early in-service date for tax purposes. Early in-service feature can apply to both depreciation and tax credits, or tax credits only as for qualified progress expenditures.

  • DEFERRED FUNDING – Deferred vendor payment for assets, or OSTA periods.

  • FEE EXPENSING OPTIONS – Fees can be amortized, expensed, or capitalized for tax purposes. Portions of a given fee can be treated separately with a combination of these options. Capitalized fees can be assigned to a given depreciation class, or can be given its own class.

  • IRS GUIDELINES – IRS guideline tests for profit, cashflow, maintenance of minimum investment, and uneven rents.

  • DEPRECIATION METHODS – 12 different predefined methods, including MACRS, plus flexible user-defined methods for special situations.

  • SEPARATE STATE DEPRECIATION – State and federal depreciation methods may be specified separately. Also, separate tax credits allowed at state level.

  • MULTIPLE TAX RATES – Varying tax rates from year-to-year are supported at both the federal and state level.

  • RETURN ON ASSETS – Calculation of ROA supports specification of internal funding costs and capitalization ratio.

  • RETURN ON EQUITY – Calculation of ROE supports specification of internal funding costs and capitalization ratio.

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