s equipment financing, also known as an equipment loan, better than making a big one-time payment for business equipment, vehicles, or technology? There is no right or wrong answer to this question, as every small business owner has their own way of doing things.
That said, it is important to know some of the benefits of equipment financing. That way you can make the best decision for your company, and your budget. Axiom Capital developed this list to help guide you in the right direction.
Of all the advantages of equipment financing, we have this one at the top of our list. That’s because saving cash is a primary goal of business owners like you. Financing preserves your working capital that would otherwise be used if you were to make a large one-time payment for your equipment. You will only be responsible for low monthly equipment loan payments over an agreed-upon term lengt
You can get approved for equipment financing without needing collateral or a high credit score. Plus, you won’t need to fill out mountains of paperwork. With Axiom Capital, you can apply for equipment financing online and get an instant decision. We have several term options for you to choose from. Once you are approved, we can provide you with funding on the same day that you submit your application.
Tax deductions are one of the biggest benefits of equipment financing. If the equipment you purchase qualifies for the Section 179 tax deduction, you might be able to expense all or portions of the cost. Check with your accountant to find out if the equipment you want to get is eligible under Section 179.
Equipment financing can help you stay on top of the latest advances in equipment, technology, and machinery, to name just a few, without having to break the bank, or use up your company’s credit line. If you are in the market for new equipment, a custom-tailored financing plan can help you acquire it quickly and easily. As you know, upgrading to newer equipment can give your company a competitive edge
Helping you keep an attractive balance sheet is another advantage of equipment financing. That’s because your monthly equipment loan payments are viewed as a business expense instead of a liability or long-term debt. As you know, having little or no debt on your company’s financial statements is a huge benefit that can improve your Paydex score.