Are you looking to add a new piece of equipment to your business? Adding new equipment can help your business grow and create profit. This all sounds great, but is the outright cost of the machine, weighing on you?
Equipment Financing is a fast, easy, and smart solution, that comes with many advantages. First, it allows you to conserve your capital. As stated above, the equipment can be a large purchase; however, if you finance your equipment, the purchase will be spread out through monthly payments; this allows businesses to use their capital for other needs. Second, there can be tax benefits when financing equipment, it may qualify you for a Section 179 Deduction. Third, it can help the accounting department, depending on which leasing option you go with, Operating Leases allow to you keep assets off the company’s balance sheet. Check out our previous blog, Is an Operating Lease or Capital Lease best for your Equipment Purchase, for more information on the difference between the two. Fourth, lines of credit remain protected. Financing with EFG does not impact the credit lines with your bank and can offer more flexibility on your equipment financing needs. Fifth, fixed payments, by locking in fixed payments, you avoid interest rate hikes in the future.
These are just a few of the advantages of equipment financing, and if you are ready to take advantage of them, contact EFG for a proposal today.