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Lease Products
Finance Products
Finance Products
Operating Lease:
Operating leases are off balance sheet allowing you to expense 100% of the monthly lease payments rather than taking depreciation. The leasing company retains ownership of the equipment. At the end of the lease you have the option to purchase the equipment or extend your lease.
Capital Lease:
Sometimes referred to as a f
Operating Lease:
Operating leases are off balance sheet allowing you to expense 100% of the monthly lease payments rather than taking depreciation. The leasing company retains ownership of the equipment. At the end of the lease you have the option to purchase the equipment or extend your lease.
Capital Lease:
Sometimes referred to as a finance lease, these leases do not fit operating lease guidelines. With a capital lease, the leasing company retains ownership of the equipment. At the end of the lease term, the equipment can be purchased for $1.00 or some other pre-determined fixed price. This type of lease allows you to depreciate your equipment and take advantage of the Section 179 Tax Deduction.
Finance Products
Finance Products
Finance Products
Equipment Finance Agreement (EFA): Equipment Finance agreements are standard finance programs whereby the customer retains title to the equipment and the finance company has a security interest in the equipment. There are no purchase options at the end of the lease term, and the borrower retains title to the equipment. EFAs are an attr
Equipment Finance Agreement (EFA): Equipment Finance agreements are standard finance programs whereby the customer retains title to the equipment and the finance company has a security interest in the equipment. There are no purchase options at the end of the lease term, and the borrower retains title to the equipment. EFAs are an attractive alternative to bank financing because of the flexibility in structure, minimal down payment, and ease of approval. This structure also allows the borrower to take advantage of the Section 179 Tax Deduction.
Flexible Structure
Current Tax Benefits
Current Tax Benefits
Deferred Payment Plan:
Oftentimes, whether you are starting a new contract or getting your equipment ordered and installed, there is a ramp up period. The Deferred Payment Plan can be the answer by offering deferred payments at the beginning of the term for up to 90 days. This allows you to get your equipment operational and profitable
Deferred Payment Plan:
Oftentimes, whether you are starting a new contract or getting your equipment ordered and installed, there is a ramp up period. The Deferred Payment Plan can be the answer by offering deferred payments at the beginning of the term for up to 90 days. This allows you to get your equipment operational and profitable before you start making payments.
Seasonal Payment Plan:
Many industries are seasonal as they deal with the natural ebbs and flows of seasonal business cycles. Example of this include landscaping companies, winter resorts, and agricultural companies. These programs allow you to make larger payments during your peak months, and minimal payments during your down months.
Current Tax Benefits
Current Tax Benefits
Current Tax Benefits
Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. This deduction is good on both new and used equipment. To take advantage of the deduction for 2020, the equipment must be financed or purchased and put into service before
Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. This deduction is good on both new and used equipment. To take advantage of the deduction for 2020, the equipment must be financed or purchased and put into service before the end of the day on December 31, 2020. There are caps to the total amount written off ($1,000,000 for 2020), and limits to the total amount of equipment purchased ($2,500,000 in 2020). The deduction begins to phase out on a "dollar-for-dollar" basis after $2,500,000 is spent by a given business. The entire deduction goes away once $3,500,000 in qualifying equipment purchases is reached.