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Leasing


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Benefits of equipment financing and leasing

Equipment financing is beneficial for business owners because it gives them the opportunity to obtain the most effective and useful equipment without the ridiculous up-front payments for the entire equipment cost. There are several benefits of equipment financing for business owners, including the increase in working capital, the ability to utilize the best equipment, the tax benefits associated with equipment financing, freeing up other lines of credit, and the easy application process.

1. It can increase your working capital
One clear benefit of equipment financing is the increase in working capital that is available when a business decides to utilize equipment financing rather than large up-front equipment purchases. 

2. It helps you keep up-to-date with the best equipment
One restriction that prevents many business owners from attaining the equipment necessary for the job is cost – new, state-of-the-art equipment is not cheap, and not all business owners can afford the newest equipment. Equipment financing gives business owners the option to acquire the tools needed without the blow to working capital.

3. There are tax benefits for equipment financing
Another benefit of equipment financing is the tax benefit. Smart business owners know how to use tax breaks to their advantage, and it is important to build strong relationships with tax professionals in order to capitalize on all of the possible benefits. There are even bigger tax benefits with equipment leases, specifically – for most lease program terms, the business owner can write off the entire lease payment as a business expense, not just the interest paid. This means that over the course of the financing terms, with equipment leasing, the entire amount paid for the equipment can be written off by deducting the monthly lease payments on the annual tax report. Check with your tax professional to learn more.

4. It can free up other lines of credit
Another benefit to using equipment financing is that it frees up other lines of credit. Instead of using a business term loan to apply for funds that will be used for new equipment purchases, business owners that utilize equipment financing for their equipment expenses will still have other credit lines open.