Used Equipment Financing Primer
Is your business adding equipment or vehicles? Thinking about going the "used" route to save a little money? Not all finance companies will help you when the collateral is not "new" - and here's what you need to know.
The Fear of Offering Financing is Costing You Money
Want an easy way to think of equipment financing? Think of it like accepting credit cards, except without the credit card company taking a cut from you, and without chargebacks. There, feel better about it now? I hope so.
Restore Section 179 Limits Earlier This Year.
Section 179 helps Small Businesses by allowing them to Deduct the Entire Cost of Purchased Equipment THIS year. In other words, it encourages small businesses to invest in themselves, which is healthy for the Economy .
Crest Capital™ Video Library &Review
The Official Video Library | News, Reviews, How To, and Opinion video from Crest Capital™ including industry coverage, style / entertainment, and reviews - as well as tutorials, quick-starts, and other learning resources for building your small business skill-set.
How does an item's collateral value affect financing interest rates?
One of the more interesting aspects of credit and/or financing is how different "types" of financing have wildly different interest rates. For example, mortgages are generally lower than vehicle loans which are both MUCH lower than most credit card rates. But why is that? Why such a disparity?
Tour of Equipment Finance HQ
Ever wonder what life is like behind the doors of the nation's premier equipment finance lender? Here's your opportunity to make a quick "loop" around our headquarters for an inside look at our space!
Reviews and Ratings | Crest Capital
At Crest Capital, we're all about financing equipment | software | vehicles - - minus the headaches often encountered with typical bank financing.
Special 2010 Tax Incentive Report
The Section 179 Deduction has been great to businesses for years. But did you also know that when it is combined with equipment financing, it can literally put thousands of dollars in your pocket?
Equipment Dealers | Are you unknowingly being eliminated by buyers?
No matter where prospects find you… on the internet -or- from traditional "word-of-mouth" sources -- they're comparing you to your competitors, online. A 2009 study concludes that 88% of all business decision makers do internet research before selecting who they by from. Buyers will eliminate you from their shortlist because competitor websites offer a payment option - and you don't.
Section 179 Deduction | "Use it" -or- "Lose it!"
Wondering where the Bailout &Stimulus is for your small business? Clearly there's not much – but there is one bright spot: Section 179. I'm going to help you seize the one tax break you're eligible for… The Catch: it's a "Use It" -or- "Lose It"
Equipment Lease and Loan Documentation | Signing Protocol
It's going to be quick, because unlike a mortgage, you won't have to sign stacks and stacks of papers. Throughout the documents, Arrows appear at the sides of lines indicating places for your signature… When in doubt, sign by the arrow!
Crest Capital - Industry Fact SheetCrest Capital is a direct funding source
providing vehicle, software, and equipment financing and leasing to small and mid-size businesses across the United States since 1989.
What Are "Toxic Assets"? | Why Aren't Banks Lending?
"Toxic assets clogging the financial system have long been viewed - by both the Bush and Obama administrations - as being at the heart of the financial crisis" per analysis from The Wall Street Journal. But what exactly are toxic assets and why are they effecting lending?
Did You Know? Surprising facts about the Equipment Leasing and Financing IndustryEquipment leasing and financing totals nearly $650 billion
of capital equipment expenditure in the United States each year - contributing as much as 3% of our country's annual GDP. Each business day, 20,000 equipment leases are written - and small businesses are twice as likely to lease or finance equipment as to purchase it outright.
Yes, We Are Still Lending!
If you are a solid business worried about credit and the like, please take a moment or two and read this entire article. It may open your eyes a bit, and will likely make you feel a lot better about the current state of affairs.
The Difference Between Good Debt and Bad Debt.
It's essential to understand the difference between Bad Debt and Smart Debt (we're going to call it Smart Debt from now on, because that's what it is). In good economic climates, both forms of debt are acceptable. But in tight economic times (like now) "bad" debt is deadly, but smart debt becomes almost essential.
Financing Equipment for your Business? Then Your Personal Credit May Matter as well.
When a small or medium-sized business finances equipment, they are often under the (wrong) impression that the only credit score that matters is the credit score of the business itself. That simply isn't true in most cases.
In fact, for "closely-held businesses" with less than five owners (which comprises a majority of small and medium-sized firms), there are typically two factors involved – the businesses' credit, and the personal credit of the principal(s).
Book Accounting, Tax Accounting, and Leasing Simplified
In almost any business, there are two sets of books – Accounting and Tax. One (Accounting, also commonly called "Book Accounting") is how the company views things (using GAAP, or Generally Accepted Accounting Principles). The other (Tax, or "Tax Accounting") is how the IRS views things.
These two often come into play when leasing equipment; and it is important for a company to understand the differences in how each accounting method views equipment leases.
Financing Used Equipment? Then make sure your equipment financing company is really willing to work with you.
If you're looking to finance equipment, you will most certainly have a myriad of options in regards to equipment financing companies. Obviously, some are better than others at certain aspects of the equipment financing business, but in very general terms, you definitely have a lot of choice.
However, this changes when the equipment isn't new. Financing used equipment (or leasing used equipment) isn't as easy. Many equipment finance companies look to restrict used equipment financing.
Equipment Financing and The Five Cs of Credit Evaluation
Equipment financing lenders, as well as banks, use the Five Cs to evaluate loan applications: Character, Credit, Cash Flow, Capacity and Collateral. However, while banks look at small-to-medium size companies from a Fortune 500 perspective, equipment financing companies see applicants from a small business perspective, which highlights a sixth C: Common Sense.