CF Software Solutions, a privately held iOS developer, released CFLease, an iOS-based lease and loan calculator. CFLease is available for free and was designed to go beyond the current offerings of HP-12C emulators and other lease-loan financial calculators, especially for equipment leasing transactions.
Some of the app’s features include the ability to calculate average life, buy rates and fees, early buyout amounts, 90% present value test, outstanding balances, and termination values. The app also has file handling capabilities and includes more than 15 different reports. However, access to the reports is available by subscription only.
“The pandemic moved workers out of the office and made them more dependent on their mobile phones. We think that a mobile solution for making non-tax lease and loan calculations is overdue and an iOS based app is a great place to start since Apple dominates the high end smartphone market,” Steve Williams, a principal at CFS Software, said. “It makes sense to have a backup to laptop pricing software for those situations when a laptop is not available. With CFLease, a salesperson can call a customer, develop a detailed lease or loan structure, send the customer a summary of those terms, copy his/her sales manager on the opportunity and do it all from his/her iPhone.
“Additionally, CFLease uses all of Apple’s native text fields, buttons, toggles, sliders and gestures that every iPhone user already knows. Consequently, the app’s learning curve will be very fast. No one has a better approach to sharing files than Apple and we have built CFLease to work seamlessly with iCloud.
“Finally, we also hope to tap into other markets, such as residential and commercial mortgages as well as real estate financings. Having both lending and leasing modes really expands the applicability of the app.”
