An improving economy has seen an upsurge in new equipment purchases, but understanding the options for cost-effectively making those purchases can be critical to a business's future growth and success, says a report issued by BMO Harris Bank.

"Companies have options for equipment procurement, each of which can significantly affect their bottom line," said Jud Snyder, author of the report and managing director and head, BMO Harris Equipment Finance. "There are major advantages - and disadvantages - to either purchasing or leasing, and the implications of either option need to be carefully thought out before a final decision is made."

The report looks at tax implications, depreciation considerations, financing options and cost of capital considerations, as well as other factors that go into the decisions being faced by business owners today in a wide variety of industries.

To access the report, visit BMO Harris Bank's Commercial Resource Center online at https://resourcecenter.bmoharris.com/content/lease-vs-purchase-equipment-critical-decision?free.

Based in Milwaukee ,with offices throughout the country, BMO Harris Equipment Finance Company builds off of the solid reputation and relationships created by M&I Equipment Finance Company, relationships that have been formed over the past 55 years.