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If leasing has developed significantly since its introduction in Morocco more than 50 years ago (its outstanding amount, exceeding 43 billion DH at the end of 2016, is 6 times greater than the stock recorded in 2000) , it is still far from having fully established itself as an alternative financing instrument, especially among SMEs. Indeed, according to official statistics, this method of financing still represents less than 30% of investment loans granted to companies. It comes dead last after self-financing, trade payables and bank indebtedness.

However, leasing does not lack advantages. It allows the investment to be fully financed, if of course the customer's debt capacity allows it, where traditional credit requires an initial contribution. Thus, the lessee preserves his cash and keeps his own funds to allocate them to the financing of the needs of his operation. In addition, leasing generally exempts the customer from providing heavy collateral. In fact, lessors generally hedge against risks simply by keeping ownership of the asset to be financed until the contract expires. Last but not least, leasing benefits from an appropriate tax regime: deductibility of charges, possibility of accelerated depreciation ...

Leasing or leasing is a method of financing increasingly popular with Moroccan SMEs because of its flexibility and its adaptation to the needs of their activities. The leasing company acquires, at the request of a client, the ownership of a movable or real estate asset for professional use, with a view to leasing it to the latter for a fixed period, in return for fixed rents. in advance. At the end of the lease, the customer can acquire the property at a price agreed in advance. Leasing thus separates the ownership of the good which is held by the lessor, from its use which returns to the lessee. For furniture leasing, the duration of the contract varies from 2 to 5 years. For real estate leasing, and taking into account the nature of the asset to be financed, the duration can be up to 10 or even 12 years. Rents can be constant, decreasing or progressive, depending on the needs of the business. Unlike bank credit, for which an equity contribution is generally required, leasing can finance up to 100% of the amount of the investment if the customer's debt capacity allows it.

What still pleads for the use of this method of financing is the diversity of solutions offered on the market which makes it possible to adapt to the specific needs of companies. Thus, furniture leasing can be used to finance construction and construction machinery, industrial equipment and machine tools, medical or IT equipment ... for needs starting at 100,000 DH and the possibility of covering the entire investment. For its part, real estate leasing, which can be requested for needs of at least 1 MDH generally, finances real estate, old, new or to be built, office floors, head offices, industrial buildings, etc. financing can be spread over 24 to 60 months for furniture leasing and the duration can go up to 12 years for real estate leasing, with the possibility of benefiting from a deferred repayment.