The absence of a debt certificate eliminates the extra paper and the EFA can, to a large extent, follow an existing set of leases in order to obtain familiar late pricing policies, document modeling and other details. “We have been working with Madison Capital for over 15 years. You are our only leasing company. Allan and Nancy are very responsive to our needs and have always been able to help us with a snap of their fingers. They include the financing of large construction machinery and have really allowed us to make wise purchases to improve our efficiency. They`re getting by! This raises the question of whether there is a disadvantage to the EFA being interpreted as a lease. In most cases, lenders who practice real leasing make considerable efforts to prevent their transactions from being interpreted by bankruptcy courts and tax agents as disguised loans. .