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KLC Participates in Summer Harvest for Kids

KLC Financial recently participated in the Summer Harvest for Kids campaign that took place at the Mall of America on June 14th. Created because no Minnesota kid should go hungry over the summer months, 5 Eyewitness News teamed up with MATTER and The Food Group to bring this great event to life.

KLC joined more than 20 teams of volunteers who competed to see who could pack the most MATTERboxes (boxed lunches for kids) during the event. In addition, hundreds of volunteers showed their support by answering phones and processing donations. Many kids receive free or discounted meals during the school year, but they lose these essential meals during the summer. The Summer Harvest campaign helps ensure that thousands of children will have access to free meals over the summer break.

In total, the campaign raised over $280,000 – donations that will ensure more than 565,000 kids will be able to have lunch this summer.

KLC Financial believes in giving back to the community whenever possible, and we are so grateful that we were able to be a part of this important event!

If you would like to contribute to this wonderful cause, you can make a donation.


MATTER is a non-profit whose mission is to “expand access to health, next door and around the world.” The company is currently working towards providing restorative medical aid and healthy foods to millions of people around the globe.

The Food Group

The Food Group’s mission is to fight hunger and nourish the community. They provide healthy food to communities in Minnesota and Wisconsin, focusing on both production and distribution.

If you are planning an upcoming community event, KLC would love to hear from you.

Contact us today to learn more about our services and equipment finance solutions.

Hone In On Your Craft With Creative Woodworking Finance Options

North America is the largest producer of lumber and timber for use in wood products manufacturing in the world. Combined, the United States and Canada have more than 3.5 million square miles of forests that produce the most lumber anywhere. Together, we are the largest provider of both hard and soft woods to manufacturers around the world. Lumber is processed by sawmills, millworks, and treating plants for use in various woodworking industries. Whether sawing and planning for boards, plywood, timbers, and hardboards for construction purposes, production of paper and cardboard products, office or home furnishings, architectural woodworking, fixtures, cabinets, doors, windows or flooring products, they are all made here. We provide the wood for uses around the world.

Woodworking has reached far beyond the realms of the small town craftsmen with his handsaws and awls scratching out table legs and rocking chairs. Woodworking is now conducted at an industrial level with massive sawing, milling, and fabrication processes that provides for a whole world of construction, paper, and furnishing needs.

The massive machines that can chew up lumber and spit out finished products ready to be shipped around the world are not cheap. Trying to upgrade your equipment by yourself can eat up all of your working capital leaving you vulnerable to changes or accidents. Traditional business loans can take weeks or even months to process and use up all of your credit lines, preventing their use for further growth opportunities. An equipment lease from KLC Financial can provide you with 100% financing to upgrade your woodworking equipment with no down payment, leaving you with all of your working capital and available credit to continue to grow your business.

With 129 years of combined experience in the industry, KLC financial can find you just the right lease that works with your business and your budget. We can help you update old equipment or get new equipment to supercharge your business without breaking your budget. Let KLC Financial build you a better way to construct your new business process.

Office Equipment Leasing: Jump Ahead Of The Competition

Ten years of repeatedly good economic news has left a lot of businesses with some very good problems to try and solve. How best to expand their offices or open new branches to accommodate all of the work coming their way? Purchasing computers, phone systems, or the latest software upgrades with the newest capacities can strip you of all of your working capital and max out your lines of credit. This can result in years of dangerous susceptibility to fluctuations in the industry and the inability to react to opportunities that occur in the market. KLC Financial can offer you a better way: Office Equipment Leasing.

Leasing your office equipment allows you to extend or expand your office, upgrade your computers or software, install a whole new phone system, or even build a brand new data center. Whether you need $500,000 or $5,000,000, KLC Financial can help you make your expansion possible while still leaving you with all of your working capital and available credit lines for your continued use.

KLC Financial can work out leasing terms that allow you to upgrade, expand or extend your offices with a monthly fee that allows you to claim both the payments and the depreciation on your taxes. We can also work out shorter term leases for equipment that you need to replace or upgrade often like computers and software systems. This means that when it comes time for the next big thing for your business you won’t be stuck with storerooms filled with old hardware that you can no longer use or even move.

At KLC Financial, we can work out an office equipment lease to grow your business with terms that work for your budget in the time that it would take for the bank just to find the paperwork to start the process. We can even offer you options with no down payment, so that we will help you with 100% financing for your office equipment without eating up all of your operating capital.

There are opportunities aplenty out there. Let us help you to build and grow your office to take advantage of it all. Contact KLC Financial and ask about an Office Equipment Lease for your next office extension or expansion.

May Contest – You Could Win $250!

For the month of May, KLC is asking for your feedback!

Write a 5-star review for KLC Financial and you will be entered into a drawing for a $250 gift card! Help us increase our online presence and reach more customers.

Click HERE to Write a Review!

Contest Rules and Details:

  • You will need a Google account to write a review.
  • Simply click on the button above or here and complete a 5 star review of KLC.
  • Include your first name and last initial so we can track your entry.
  • A written review is optional (but we would love to hear from you!).
  • Only one (1) entry per Google account.
  • Contest runs May 1 -May 31, 2018.
  • All entries received during May will be entered into a drawing for a $250 gift card and picked at random.

We love our customers and want to hear from you! Thanks for your feedback! 



KLC Attends WWETT Show

Early this year, Allen Glynn from the KLC offices went to the Water and Wastewater Equipment Treatment and Transportation Expo held at Lucas Oil Stadium in Indianapolis Indiana.  The WWETT is the largest annual trade show for the wastewater and environmental services industries in the country. With 600 exhibitors and over 350,000 square feet of exhibits, they had informative programs, new technologies, and innovative solutions for moving water, treating wastewater, new portable sanitation technologies, and innovations for the sewer and plumbing businesses.  

Jam Packed with Information

There was so much to learn, with demonstrations of the most advanced equipment, cutting-edge technologies, and the newest ideas for environmental services. There were a number of programs designed to provide credits for CEU and PDH accreditations, as well as association courses for NOWAR installer credits and PSAI training for Portable Sanitation Professionals. Beyond the technician accreditations, there were also courses for business strategy, marketing, and leadership classes for supervisors and administrators. There really was something to see and to learn for everyone working in the wastewater and environmental industries.

Valuable Demonstrations

The largest demonstrations were the Citizens Energy Group tour of DigIndy Tunnel. One of the largest infrastructure projects in the state’s history. The tunnel is 9 miles long with a bore diameter of 20 feet and is located 250 feet below the city of Indianapolis. When this project is finished in 2025 it will be 28 miles long and will be the solution to the city’s sewer overflow issues serving to protect the area’s waterways.

There was also a tour of the Secondary Treatment System at the Belmont Advanced Wastewater Treatment Plant. This plant has a capacity of 300 million gallons per day and uses an air nitrification system to bring in sewage and return clean water to the city’s waterways.

Priceless Networking Opportunites

The weekend was an excellent networking opportunity with 600 different vendors showcasing their wares and thousands of representatives from environmental, wastewater, sewage, portable sanitation, and plumbing companies from across the nation in attendance. The show ended with an appreciation party featuring Scott Sharrard and the Brickyard Band, a selection of wonderful door prizes, and an IMAX showing of Black Panther.

At KLC Financial, it’s not enough for us to know about our industry. As a leader in capital leasing, we need to know about the industries we work with as well. If you are in the wastewater and environmental industries and you need an equipment lease to upgrade your company’s technologies, give KLC Financial a call.

KLC at the Monroe County Economic Development Conference

Lesley Farmer from the KLC Business Development department gave a speech at the Monroe County Economic Development Conference last month. Held at the Three Bears Resort in Warrens Wisconsin, this year’s conference was the largest in the organization’s history, with representatives from 23 counties in Wisconsin and 5 other states.

What is it?

This year’s event had speeches on topics as diverse as broadband technologies, digital marketing, workforce relations, cyber security, creating a plan of succession, energy savings, childcare, housing, PACE programs, Fort McCoy and Volk Field updates, WISE programs, and forecasts for the State’s Economy given by the Governor himself.

Why were we there?

Lesley was there to talk about what equipment leasing can do for your business. She informed a crowd of business leaders about the ways that equipment leasing can help businesses working in agriculture, ranching, healthcare, and the transportation industries to get the equipment they need to grow their businesses. Monroe, Wisconsin is typical of many midwestern counties with a combination of both smaller towns and rural communities. You don’t need a big city to build your company into an economic powerhouse, and Lesley was there to tell the assembled leaders how equipment leasing could help them with their plans for growth.

More info…

Equipment leasing through KLC can help business leaders get the loan terms they need to upgrade and expand their businesses or extend their company’s reach. Lesley told them how KLC can arrange terms that allow them to claim both their loan payments and the depreciation of their new equipment on their taxes. She told them about how KLC can arrange shorter term leases for equipment that you replace or upgrade often like computers and construction equipment. Lesley also shared about how equipment leasing can help them to upgrade old, worn, or obsolete equipment with new, upgraded technology. Best of all, she let them know how an equipment lease through KLC Financial will still leave their businesses with their working capital to pay employees and manage the bumps on the road to success.  

If you would like to talk with Lesley or any of our KLC leasing agents about how equipment leasing could help grow your business, give us a call at KLC Financial.

KLC at the 2018 MN Paint and Powder Coating Expo

KLC Financial along with a host of informative presenters and leaders in the paint and powder coating industry will be at the 2018 Minnesota Paint and Powder Coating Expo. The expo and preceding symposium will be held at the Century College East Campus in White Bear Lake, MN. Various topics and specialties relating to manufacturing and painting and powder coating will be discussed and taught. This is an exciting and interactive event that KLC is excited to be a part of.

Wednesday Symposium: The Industrial Internet of Things

The Wednesday symposium will highlight the present and future of manufacturing in the information age. Topics of discussion will revolve around communications software and how our technology and manufacturing are intimately intertwined and constantly evolving. There will be an opportunity to attend a painter training to learn the fundamentals of spray application as well as best practice for spray optimization.

Thursday Expo and Vendor Show: Paint and Powder Coating

On Thursday, various business leaders will share knowledge and expertise regarding painting and powder coating. Pretreatment, equipment, and materials will be the primary topics of discussion and will be followed by a vendor show and lunch. As a highlight of the event, a virtual reality spray demonstrating session will take place.

Attendees will learn, experience, and engage with painting and powder coating in a unique and educational setting. This will serve to enhance productivity and technique as they’re able to implement what they learn into business structures and practices.

KLC Financial and the MN Paint and Powder Coating Expo

KLC Financial is proud to participate in this event as we seek to finance businesses and help companies to flourish. Come and see us at this interactive and informative event on March 14th and 15th. We look forward to visiting with you there!

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Increase Productivity and Cash Flow With a Manufacturing Equipment Lease

For the better part of 30 years we have been bemoaning the loss of the U.S. Manufacturing Base. The best kept secret in the U.S. economy is that while the reduction in assembly line jobs continues, manufacturing is still the largest sector of our economy. The United States manufacturing sector adds $2 trillion to our economy annually. Output in the manufacturing sector of our nation has actually been on the increase in the past few decades and is currently at a thirty year high. The U.S. output is greater than that of the combined values of Japan, Germany, and South Korea, numbers 3, 4 and 5 in manufacturing in the world.

How is it, then, that the United States has been able to continue to grow our manufacturing base without an accompanying increase in jobs in the sector? Because no country can match us for the level of technology in bringing automation to the industry. Whether it’s baking, processing, assembly, or fabrication we have found advanced mechanized processes for all of it. The products made in the United States are made by the most advanced robots, and technologically innovative machines in the whole of the world.

For those who fear the rise of Chinese manufacturing, take a moment to look at what the two countries are making. Chinese manufacturing creates inexpensive household items or assembles parts made in other countries. Manufacturing in the United States produces commercial goods like airplanes, telecommunications, chemicals for home use and aerospace. It may be that the United States no longer makes our own toasters, but we make the rockets used by the whole world.

The days of assembly lines in Detroit and Milwaukee filled with workers mindlessly screwing the same nut to the same bolt for 8 hours a day are long gone by. Now, we have mechanized processes that can do the same work faster, more accurately, for longer hours, and with greater safety at a lower cost. We now have automated processes that take the place of unskilled laborers lined up along an assembly line for long, mind-numbing shifts.

These time-saving, costs-saving, human-capacity-saving mechanized systems can often have a high upfront cost. They may be super-fast, hyper-accurate, and long-running, able to turn out thousands of products every single day, but they are not cheap. Whether you need $500,000 or $5,000,000, KLC Financial can help you to afford these productivity marvels with 100% financing and no down payment. Let the increased productivity from the machine make your monthly payment for you without upsetting your working capital or using up all of your credit lines. We can even set up your deal so that you can declare both the monthly payments and the depreciation on you taxes.

Add the next chapter to the book of your company’s success and contact KLC Financial.

Family Entertainment Flexible Financing Solutions: Expand The Fun

Family Entertainment Centers are experiencing a bold, new period in their history. Long gone are the days of mosquito plagued nights at the drive in, soggy pizza and bland soda, bad video games, dismissive employees and creepy animatronic animal jug bands. Today, Family Entertainment Centers combine sports, games, rides, electronics, and liquor with good food and real music to create a fun-charged environment for the whole family. Innovative entrepreneurs are bringing together those multi-disciplined arenas that capture a wide sense of fun encompassing all ages, genders and ability levels.

Smart businesses are combining a number of experiences to create an environment that has something for the whole family. Good food for mom, top shelf drinks for dad, electronic games for Bobby and wild, fun rides for Sally. Every town in America is now being changed by family fun options that include sit down restaurant food and drink options along with movies, sports games like bowling, golf, and mini-car racing, electronic fun including games, music, trivia challenges, and much, much more. Innovators are finding ways to create never before seen progressive sports challenges like trampoline parks and obstacles courses and turn them into a whole evening of fun for children, teens and adults alike.

However, these multi-disciplinary facilities do not come cheap. Whether you want to add a bar and a Walk-in-Refrigerator to your movie theater, or an electronic fun center to your existing restaurant, creating a multi-disciplined family entertainment center comes at a cost.

KLC Financial can help you afford to make that next great jump in family-friendly fun while still leaving you with all of your working capital and all of your available credit lines. Whether you need $500,000 to upgrade your kitchen or $5,000,000 to add amusement rides and electronic games to your family event center, KLC Financial can find you 100% financing with no down payment and monthly payments that can fit your budget. We can also create terms that let you claim both your monthly payments and the depreciation on the equipment on your taxes.

KLC can help you to make your family-fun center the most amazing option for families in your city. Contact us to see how we can help.

Break Ground Today by Leasing Construction Equipment

The construction industry in the United States has been experiencing a ten year boom. The Bureau of Labor Statistics tells us that non-residential construction has risen by 4.3% just since September of 2016. New buildings are going up all over our country, and the demand for new construction is nearly outpacing the ability of companies to keep up. All over the United States, companies are scrambling for cranes, dump trucks, loaders, dozers, and skid steers to keep up with the demands of the work.

KLC Financial can help you to get all of the equipment you need for your next big construction job without the hassle of begging the bank for a loan. Whether you need $500,000 or $5,000,000, we can get you affordable monthly terms that work with your budget so you can start to break ground right away. An Equipment Lease can get you 100% financing, with no down payment, to let you keep your working capital and access to credit lines to continue to grow your business.

Large construction vehicles and equipment can be prohibitively expensive. Our Equipment leasing terms can help you to acquire the most powerful, state-of-the-art equipment for your large scale construction job with affordable monthly payments. Equipment leasing can also help you to upgrade old, worn, or obsolete equipment with new and better tools and vehicles. We can create financing terms that allow you to claim both your payments and the depreciation on the equipment for your taxes. If you are on a job where you will only need the equipment for a limited amount of time, we can create shorter lease terms where you do not have to claim ownership afterwards so that you won’t have to find yard space for unneeded vehicles and equipment.

Your company builds the cities in which we live; the buildings, roads, and infrastructure that powers every other aspect of our lives. With the economic boom that our country has been experiencing for the past decade, the demand for more buildings, roads, and infrastructure is testing the industry’s capacity to keep up. A KLC construction lease can help to grow your company’s capacity, so you can claim a larger share of the on-going boom.

Improve Your Bottom Line by Increasing Your Technology

The ever accelerating pace of technology is changing business in every industry in every country around the world. Advances in computer processing power, software complexities, internet capabilities and telecommunications are finding new and expanding use in every sector of the economy; whether it’s automated tellers, computerized loan applications, wild new advances in medical devices, massive new data collection technologies for businesses and Universities, or real-time connectivity for every employee of a business, no one is immune to the drumbeat of coming change. No industry will be spared the new applications that are transforming how business is done every day.

How to keep up is the question that is causing Business Technology Experts and Chief Operating Officers to toss and turn late into the night. How can you stay at the forefront of the wave of technology, and ahead of the competition, without breaking the budget? How can a company manage to afford to repeatedly upload, upgrade, and update the technologies that drive their industry and keep up with the ever increasing rate of change?

KLC Financial can help you to find the financing to allow your company to keep up with the breakneck speed of change in your industry. We can create an equipment lease that will provide you with the most advanced technologies or powerful new software with monthly payments that will work for your budget. We can provide you with 100% financing, with no down payment so that you can keep your operating capital.

We understand how fast business moves these days, and we can set you up with a business technology lease just as fast, and we’ll leave you with all of your credit lines still fully available, so you are ready for the next opportunity that comes your way.

KLC Financial can help you to ride the waves of new technologies and create more opportunities for your business going forward. Contact us today to learn more.

Take Your Business to the Next Level With Office Equipment Leasing

Staying on top of your industry in the modern world can be like trying to ride a bucking bull.  Business in the 21st century comes with wild new changes in available technologies, the advent of powerful new software, and plenty of new avenues for growth. Who can afford to take advantage of all the advances and avenues available to business in the new wild west of internet connectivity, computing speeds and bold new leaps in technology? You can with KLC Financial’s Office Equipment Leasing options. Whether you need a leasing line of $10,000 or $100,000, KLC Financial can help you take your business plan to next level.

Office Equipment Leasing allows you to take those next steps toward making your company the leader in your industry.

Whether it’s bringing in new technology or upgrading existing equipment, training your staff to new software capabilities or opening a new office in the next town over, KLC financial will work with you to make it all possible for your business.

In a competitive industry, it takes more than a great idea to compete. It takes being able to put that idea into action. KLC can help you to find the funds to implement your great ideas and put you ahead of your competitors. The landscape of your industry is littered with good ideas that lacked the capital to come to fruition. We will work with you to make your corporate dreams a money making reality.

Whether your company is a brand new start up or if you have been working in your industry for decades, KLC Financial can help you with our Office Equipment Leasing options. We can create a plan for you with all of the flexibility you need and provide access to all the resources you want to push your business to another level. Conquer the competition and lead the race in your industry…with a little help from KLC Financial. Contact us today to get started!

Lesley Farmer Selected 2017 Top Women in Finance Honoree by Finance and Commerce

KLC Financial is proud to congratulate Lesley Farmer as 2017 honoree of the Top Women in Finance Award.  Thank you for your outstanding service to KLC Financial and the Minnesota community.  We are proud to have you as a leader on our team.  Congratulations on a well-deserved recognition!

Lesley Farmer – CLFP, Business Development, has been a member of the sales team at KLC for over 12 years.  Her goal has always been and continues to be to build the best customer relationship through customized financing solutions and personalized service. She works with a variety of industries to bring them equipment leasing and financing tools that best meet their needs.Lesley Farmer - KLC Financial

“It’s an honor to be selected by Finance & Commerce for this award. The group of outstanding women that I am joined by this year as well as years past is an honor and privilege. I am very thankful to my friend and business partner, Erin Procko, who nominated me for this wonderful award!”

This is the 17th year that Finance & Commerce has been featuring a woman’s honor program. The program not only celebrates and honors women who are making a significant impact in their profession, but women who continuously make a positive impact on their Minnesota community.

The 2017 Top Women in Finance Honorees includes women from a wide variety of professions and positions including CEOs, entrepreneurs, financial advisors, accountants, and lawyers. Honorees come from diverse industries ranging from non-profits and government to real estate. In addition, many of the selected women volunteer in their communities and mentor other women.

Lesley, as well as the other deserving honorees, with be further recognized at an awards event on November 16th, 2017.

KLC Financial

KLC Financial leases and finances capital equipment and assets across industries to businesses throughout the nation. Contact KLC Financial today for all of your equipment leasing, financing, and cash flow needs.


3 Reasons Why Companies with High Cash Reserves Still Choose to Lease

The affordability of equipment, technology, and other hard assets can make or break a company’s growth. This is why leasing and operating lesases are so appealing to many businesses – acquiring these necessary items with a manageable monthly payment. Why then do established businesses with large cash reserves choose to lease, when they could just pay off the asset and avoid the interest? It turns out that there are quite a few benefits to financing for all types of organizations, from start-ups to Fortune 100s alike.

First… There are Tax Benefits

Leasing allows your customers to deduct monthly lease payments on a true lease as an operating expense. Depending on the lease structure and the accounting treatment, this means their lease may qualify for off-balance sheet treatment, which may assist them in acquiring the equipment they need while maintaining compliance with bank and loan covenants, staying within capital budget constraints, and  improving their financial position.

Another set of tax benefits many organizations take advantage of are Section 179, bonus depreciation, and qualified leasehold improvements. With Section 179, the IRS allows for the project cost to be fully deductible if your business uses the leased equipment and lease payments pay the cost over time. Interest as part of the payments is also deductible.

Bonus depreciation is the provision that allows businesses to expense a portion of an asset in the year it is added. This has proven to be very helpful for businesses with large amounts of qualifying equipment, as they can save large amounts of tax in the year of purchase.

Second… There are Budget Friendly Fixed Monthly Payments

Knowing that a fixed cost is on the horizon can be a relief to a company. One of the most difficult things about expense accounting month-to-month is factoring in the new, surprise costs that pop-up. That is why even when they can pay the full cost up-front, many businesses opt for monthly payments since they are expected costs that allow them to better manage their budgeting cycle.

Third… Leasing is a Hedge Against Technology

In an age when the next best thing may be available a month after you purchase the latest and greatest, there can be a fine line behind staying up to date and lagging far behind. This is one benefit that leasing can provide better than paying for assets outright. Depending on the structure of the financing agreement, many companies lease assets as a way to stay current with advancement, updates and new features on a regular basis. This usually proves easier than trying to sell the asset themselves at a loss, only have to turn around and buy something new at full price.

Since leasing is a hedge against technology, many businesses choose operating leases in which they have the option to return the asset at the end of the lease term. If the then fair market value of the asset is less than the residual that the business assumed, they bear the loss but are protected from fair market value fluctuations. Also, if the lessee chooses to swap the asset for one of newer technology, the existing lease can typically be terminated and a new lease initiated.

When You’re Ready to Start Leasing, KLC Financial is Here…

Companies need their technology and office solutions to keep up with them. KLC can help them with this challenge. Here are just a few ways we have already helped other companies:

Data Center Company:

Data center, network management, integration company, $525,000 lease line. KLC Financial provided an equipment lease line of credit for allowing Lessee to expand their data center offering and to update their technology.

Insurance Agency:

The company needed a $75,000 cash injection into the business to expand their agent training capacity. KLC Financial did a sale-leaseback of their office equipment and some personal assets to get them the cash they needed. They have grown their business over 30% so far.

Wholesale Clothing Facility:

We leased them an upgraded software package for $20,000 to help streamline their order processing and inventory management.

For more information about equipment leasing, contact the team at KLC Financial today.


5 Reasons to Set Up a Vendor Finance Program

If you are in the business of selling machinery, large equipment, or expensive technologies to businesses, you know that conducting an all-cash transaction is a tough sell. Not only businesses have limited capital available to invest in equipment or technology, many of them do not want to go through the lengthy procedures of applying for a bank loan. That’s where vendor finance programs come in.

The term ‘vendor financing’ refers to the lending of money by a manufacturer to its customers so that they can purchase the equipment or technology they need. This way, manufacturers can increase their sales volume with vendor financing even though they are buying their own products.

While increased sales volume remains the primary reason most companies set up a vendor finance program, there are various other benefits as well that make vendor financing a smart choice for businesses. These include:

1. Sell Products at a Better Price

Customers perceive vendor financing as an ‘incentive’. Since they are not required to pay a hefty amount right away, they are ready to buy a product at a higher price than they would have accepted if it were an all-cash purchase. This way, manufacturers can earn more revenue per sale and make accelerated progress towards their sales targets.

2. Negotiate More Favorable Terms

The company providing financing for the purchase of equipment or technology gains the upper hand in the deal. As a result they are able to exercise greater control and negotiate terms that suits their interests and preferences. In addition to this, customers are often ready to accept the terms because of lack of funding options available to them.

3. Generate a New Income Source

By opting for a vendor finance program, the customer is required to repay the loan in small monthly payments over the entire repayment period. In addition to this, they are also required to pay interest at a rate set by the financer. Since equipment and technology purchases often worth thousands of dollars, vendors are able to earn a significant amount of interest over the money lent by them to the customer.

4. Close Deals More Efficiently

With a vendor finance program, the purchaser does not have to search for financing or apply for bank loans. This saves the time the purchaser would have spent on completing all the paperwork required to secure a loan. As a result, the manufacturer is able to close a deal in a more efficient manner.

5. Gain an Edge Over Your Competitors

In today’s competitive marketplace where companies are seeking innovative ways to differentiate themselves from other market players, a vendor finance program can prove to be really valuable. Often time, a vendor finance program becomes the deciding factor for the purchaser when they have to choose between two products.

To learn more about how vendor financing works or to partner with KLC on vendor financing, please contact KLC Financial at 952-224-4300.

Marc Keepman Speaks on Equipment Leasing During CVN Webinar

Marc Keepman, Chairman and CEO, Spencer Thomas, President, and Jena Morgan, Marketing and Portfolio Manager of KLC Financial, participated in a fantastic webinar hosted by the Community Venture Network (CVN) earlier this week.


There was a great turn out of CVN members for the BR&E webinar. Marc Keepman led part of the webinar and shared his experience and knowledge of the equipment leasing environment. He touched on key points including; the benefits of equipment leasing for small and large companies, partnering with local banks, and the many advantages of the 179 deduction and bonus depreciation.

Jandra Lubovich, Tyler Hoch, and Chris Kampa from Stifel, a large investment firm, shared their experience and insight into municipal bond markets and the process of conducting a bond offering.

Click here to view the presentation.

The Community Venture Network focuses on economic development in rural areas of the Midwest with the goal of connecting small-medium businesses with rural communities.

Contact KLC Financial

If you have questions about equipment leasing, or if you would like to learn more about how equipment leasing could benefit your business, the team at KLC Financial is here to help you navigate the leasing process and answer any questions you may have. Contact KLC today for more information.

KLC Supports Local Events and Organizations

Summer has arrived, and the team at KLC Financial is making big plans to support local events and organizations through sponsorship and participation over the next few months.

KLC Golf Sponsership

The list of events will continue to grow, but here are three big events KLC Financial would love to see you at this summer!

33rd Annual MPMA Open Golf Classic

KLC will be sponsoring a hole at this exciting event on July 11th. Participants will enjoy lunch, a round of golf, and the awards dinner banquet at Bunker Hills Golf Course in Coon Rapids, Minnesota. In addition, there will be a putting contest and time set aside for networking and socializing. There is still time to register for this event, or if you prefer,there are sponsorship only opportunities!

Learn more about the MPMA Open Golf Classic

RMA MN and MNCPA 19th Annual Golf Tournament & Networking Event

KLC Financial will be sponsoring a hole at this event on August 14th. The event will be held at Brookview Golf Course in Golden Valley, Minnesota. There are still sponsorship opportunities available, or if you want to join in the tournament, you have plenty of time to register and practice up!

Learn more about the RMA MN and MNCPA 19th Annual Golf Tournament

NEFA Lake Minnetonka Educational Panel and Networking Cruise

KLC will beco-sponsoring this great event taking place on August 23rd. The cruise leaves from Al & Alma’s in Wayzata, Minnesota, and provides the perfect opportunity to enjoy beautiful Lake Minnetonka with friends and colleagues. The event includes an afternoon of top-notch educational sessions on land followed by a cruise on the water with dinner, drinks, and networking.

Learn more about the NEFA Lake Minnetonka Educational Panel & Networking Cruise

All of these fantastic events are open to the public. Click on the links above to register, and we will see you there!

3 Primary Methods of Funding your Startup

When you have big dreams for a small business, there are many things you must consider. The first hurdle most entrepreneurs need to fly over is that of funding. For most startups, financing is going to come from multiple angles. The majority of people don’t have the cash in hand to fire up their brand new company and get the wheels rolling. Building their funding takes time, work, and creativity. There are three main sources of financing for startups that folks typically turn to that we’ll highlight here.

The Employing of Personal Assets

Making use of personal assets to fund your startup is the least expensive and most efficient method of getting your wheels off the ground. This method does present certain risks, however. By using your own assets, you’re reducing your savings and the collateral you may need for a larger loan further down the line.

The Fundraising of Startup Money

This obviously isn’t a bake sale sort of fundraiser we’re discussing here: fundraising financing for startups in Minnesota looks more like finding investors. This may be family, friends, or strangers. You might be able to find a few investors willing to shell out larger amounts of cash for your startup, or you may need to access many small investors. With their investment, they’re usually promised equity in your company, the money is given as a loan, or they invest with the promise of a reward of some sort.

The Securing of a Bank Loan

The benefit of getting a bank loan to fund your startup is that it’s typically less time consuming than fundraising and you’re not sacrificing equity in your business. You’ll have to have decent credit to qualify for a startup bank loan and the interest can range from 12-25% per year depending upon the institution which is similar to what you’d pay on a credit card. Unlike a credit card, this is a loan lump sum: the entire amount is immediately accessible from your bank account which means you’ll also be paying interest on the total sum right off the bat.

Financing for Startups in Minnesota and beyond

Whichever option you choose, it’s always wise to consult a financial institution for advice on how to handle the finances of your new business. KLC Financial is unique in our approach to startups because we’re not a bank: we’re an independent finance company able to creatively address your startup funding needs. Contact us today to make your business dreams into reality.

KLC Team Attends Sky Zone Convention 2017

Lesley Farmer and Spencer Thomas attended the Sky Zone Convention 2017 May 8-11, 2017. The event took place in Chicago, Illinois at the Loews Chicago O’Hare Hotel.

About Sky Zone

Sky Zone is the originator of wall-to-wall aerial action. Their goal is to get people active, healthy, and happy, and they do this through a variety of exciting activities offered at their parks. Guests can enjoy freestyle jumping on wall-to-wall trampolines, obstacle courses, Ultimate Dodgeball and trampoline dunking. This is a popular venue for birthday parties, charity events, family get togethers, and as a fun place for friends to gather.


The Sky Zone Convention 2017 included a welcome party, educational sessions, breakout sessions, a visit to Sky Zone in Orland Park, vendors, and award receptions. Farmer and Thomas attended the event to support franchise owners and to share their vast knowledge of leasing and financing solutions.

About KLC Financial

KLC Financial offers creative, flexible, custom solutions that support businesses that don’t easily fit the typical bank or finance company models. We believe in establishing solid, long term relationships with our customers, investing partners and referral sources.

If your franchise needs access to working capital or if you have questions regarding equipment leasing or financing, contact KLC Financial today and we would be happy to answer any questions you might have.

3 Benefits of Equipment Leasing

A rapidly expanding business is an exciting prospect. When the possibilities seems endless, sometimes it’s easy to get lost in dreams of the future and forget to plan for the present. With the rapid turnover of technology and in order to keep up with your burgeoning business, you may need to look into equipment leasing. For expert equipment leasing MN, KLC Financial is your go to. Before contacting us, read up on the benefits of leasing equipment with the help of KLC Financial.

Equipment leasing works a lot like renting. You’re responsible for making monthly payments for the duration of your agreement, and once that’s done, you’ll have the option to renew, terminate, or purchase the equipment at fair market value.

Lower Costs

One huge benefit of equipment leasing is that it allows you to rent equipment necessary for your business that you’re unable to buy. Monthly payments for leasing are also usually lower than a business loan or line of credit.

Stay Current with Technology

Another bonus of accessing equipment leasing is that when you’re in a field with frequent turnover rates (high computer use, for example), you can keep your equipment cutting edge without making constant updates to your equipment out of pocket. Leasing allows you to essentially trade in obsolete equipment for fresh technology. Sometimes, mid contract trades can even be made depending upon your contract specifications.

Financial Benefits Abound

When you take advantage of equipment leasing MN with KLC Financial, you qualify yourself for tax incentives and free up cash flow that can better be used elsewhere in your business. Because you more often than not don’t need to provide additional collateral, your funds are free to be budgeted elsewhere.

Equipment Leasing MN with KLC Financial

For professional and friendly assistance for your equipment leasing, contact the team at KLC Financial today.

The KLC Team Attends March Trade Shows: NEFA & CONEXPO-CON/AGG

The team at KLC attended two trade shows in March of 2017 to show our support for the associations that support our customers. Both events allowed us to gain important knowledge and experience that will enable KLC to improve our services and further our customer relationships.

National Equipment Finance Association Summit

KLC Team Attends March Trade Shows

Spencer Thomas, Marc Keepman, Jared Keepman, and Jena Morgan all attended the National Equipment Finance Association Summit (NEFA) March 15-17 in Long Beach, California. More than 260 commercial equipment finance professionals from across the country came together at the Renaissance Long Beach Hotel for the three day conference. Attendees had the opportunity to participate in educational sessions that focused on a wide range of topics including; marketing, cyber security, training, and growing a business. In addition to the educational programs, discussions, and networking, attendees had to time to enjoy Long Beach and the surrounding area.


KLC Team Attends March Trade Shows

Earlier in March, Allen Glynn and Randy Peterson attended the CONEXPO-CON/AGG in Las Vegas, Nevada, March 7-11. This show is the largest gathering in the world for construction industries, with the main focus being on ready mixed concrete, construction, and aggregates. There were more than 2,500 exhibitors at the event this year showcasing new and innovative technology, services, and equipment spread out over 2.6 million square feet of space. Attendees also had the option to attend 150+ education sessions that focused on concrete, asphalt, business management, technology, and more.

Contact KLC Financial for all of your equipment leasing and financing needs.

The KLC Team Attends the WWETT Show 2017


Allen Glynn attended The Water & Wastewater Equipment, Treatment & Transport Show (WWETT) which was held in Indianapolis, Indiana, February 22-25, 2017. WWETT is the largest trade show in the world for environmental service professionals. At the event, attendees took part in fantastic educational programs and networking opportunities.

The Expo Hall featured displays from 600 exhibitors that showcased new equipment and innovative technology. Products and services ranged from septic pumping and portable sanitation to safety equipment and computer software.

During the three day event, attendees were able to choose from more than 110 educational sessions that covered a vast array of wastewater and water topics. In addition, attendees were able to fulfill CEUs and state credits, learn from industry leaders during speaker sessions, and gain more insight into important business elements such as leadership and strategy.

The team at KLC is always working to further their education and stay on top of equipment trends across industries. Glynn gained valuable insight from the event, and this knowledge will continue to improve KLC’s services and strengthen customer support.

The 2018 Water & Wastewater Equipment, Treatment & Transport Show will take place at the Indiana Convention Center in Indianapolis, Indiana. Attendees can look forward to more classes, online registration, and personalized education experience.

Learn more about the WWETT Show 2017

US Manufacturing Revival Makes Equipment Financing a Priority

As more American companies bring their industrial troves back onto US soil, the need for financing of the equipment necessary to run these operations has become a priority. This need has the caught the attention of financial institutions and competition for these manufacturing equipment financing deals is creating a healthy market, as only competition can. Companies like KLC Financial want to sit down with manufacturing companies and are willing to work out a financial lending situation that suits the needs of the company. With a good credit score, up to 100% financing is sometimes possible with often incredibly low rates.

Choose Your Master Wisely

How does a manufacturing company navigate these seemingly crystal waters? Keep in mind that muddyness may lurk where you least expect it. Large financial commitments such as borrowing money for manufacturing equipment should not be taken lightly, even if the money isn’t difficult to attain. For this reason, it’s imperative to hire a financial firm well versed in the world of lending and borrowing and who will expertly navigate the monetary dealings of your company. These people are the masters of your finances and should be wholly trustworthy. Look for five star reviews, seek out references, and interview your potential lender to protect yourself and your assets.

Educate Yourself

When you educate yourself (at least minimally) in the field of finance, you’re building a bulwark. While you’re seeking your lender out because they’re the experts, coming into the fray with a working knowledge of manufacturing equipment financing will allow you to stay in the know and guard you from potential shady dealings. Learn about options such as capital leases versus lease-to-own contracts so that you can have a fruitful and efficient conversation with your lender.

Secure Custom Manufacturing Equipment Financing

As consumers continue to demand higher quality items, more industry will return to the States. If your company is making the transition and is need of manufacturing equipment financing, contact the experts at KLC Financial for custom leasing solutions.

KLC Financial Promotes Spencer Thomas to President

KLC Financial

KLC Financial promoted Spencer Thomas to president of KLC Financial, Inc.  Thomas, previously executive vice president, will continue to lead revenue growth for the organization.

“Spencer has been a great contributor to our success and a stalwart partner.  I look forward to further contributions in his new position,” said Marc Keepman, who will remain Chairman and CEO.

Thomas has had a successful, extensive career in financial services, with the past 18 years in the equipment leasing and financing industry.  He has held leadership positions in new business development, sales and portfolio management and corporate administration. He joined KLC in September 2001 as co-owner and director.  Spencer graduated from St. Mary’s University in May 1994 with a Bachelor of Arts in Accounting.

Congratulations to CLFP Graduates!

KLC would like to congratulate its most recent Certified Lease and Finance Professional (CLFP) graduates!

Six individuals from KLC recently attended the Academy For Lease & Finance Professionals which took place in Minneapolis, Minnesota and was hosted by the International Decisions Systems and KLC Financial.  In total, 13 individuals attended the academy and sat through and passed the 8-hour online CLFP exam.

KLC is proud to announce that Lesley Farmer, Jared Keepman, Kevin Kelly, Shannon Smith, Patrick Swanson, and Sarah Kelly are all now Certified Lease and Finance Professionals.

KLC Financial now employs eight CLFPs. When asked to comment, Jared Keepman, CLFP, said, “Aside from the personal reward of joining an elite group, it is important that we in the leasing industry continue to self-regulate in an otherwise unregulated field. The CLFP education, exam and designation affords us as leasing professionals the opportunity to better ourselves and our colleagues to promote healthy development, growth and continued success.”

The CLFP designation identifies an individual as a knowledgeable professional to peers, customers, and employers, and clients in the equipment finance industry.

You can read more about the recent CLFP exam and the attendees on Leasing News and Monitordaily.

About CLFP

The CLFP Foundation is an education and certifying body created to raise the industry standards among equipment leasing and financing professionals.

KLC Promotes Shannon Smith to Vice President


KLC Financial is happy to announce that Shannon Smith has been promoted to Vice President.

Smith will continue to be responsible for leading KLC’s equipment finance credit and operations divisions.

President and CEO Marc Keepman said, “I am excited to promote Shannon. He has demonstrated a high level of professionalism, talent and commitment to KLC Financial’s success.”

Smith has had a successful career in the financial services industry with over 15 years of experience.  He has been with KLC Financial for 9 years.  He started in January of 2008 as Credit Manager and has worked to oversee the credit, funding, and operations side of the business. His prior work experience was in the larger banking sector where he held sales and credit underwriting positions. Shannon graduated from Saint John’s University in May 2002 with a Bachelors in Accounting. 

KLC Financial offers financing and leasing options for businesses both large and small. We offer financing for start ups as well as truck financing, vendor finance programs, medical equipment leasing, and general finance opportunities for your company. Contact us today for information and learn how KLC can help your business with all of your leasing and financing needs.

You can read more about Smith’s promotion on monitordaily.

Grow Your Business: 5 Ways to Attract More Customers

Regardless of whether your startup is just getting off the ground or you’re an experienced small business owner, finding new customers is imperative for growth. If acquiring new customers is one of your main business goals this year, here are 5 simple ways you can reach a larger audience and onboard more clients.

1. Leverage your current customer base and network.

Go the extra mile to please and delight your customers. Encourage current customers that are happy with your services to write reviews about your company. Positive customer reviews are extremely beneficial for attracting new business. When you take great care of your customers, they are going to recommend your company to people they know and speak highly of your services online. If you’ve spent time networking, don’t forget to utilize the connections you’ve made. Stay involved in groups that are in your target market and continue to nurture valuable business relationships.

2. Seek out beneficial partnerships.

Entering into partnerships is a great way to introduce your services to a larger audience. Teaming up with other local businesses that serve a similar audience allows you to tap into their database and increase your reach. Both parties benefit from cross-promotion and this partnership could potentially open the door to new marketing opportunities.

3. Get involved in your industry.

One of the best ways to network and stay on top of what’s going in your line of work is to join an industry association. You might not meet customers directly through an association, but you will gain valuable insight into your industry, have opportunities to attend educational events, and possibly discover your new partnership. Hosting events and volunteering to speak at local gatherings are also fantastic ways to get involved in your industry. The more you are able to share your expertise, the more others will view you as an industry leader – a factor that is important for current and potential customers.

4. Don’t be afraid of free trials.

Free trials might be scary, but they are an excellent way to capture the interest of your audience and generate a buzz about your company. Consider giving new customers a free trial of your product. If they have a great experience, there’s a good chance they will share positive reviews and testimonials which in turn will attract more customers. In addition, if these potential customers see the value in your product and experience your superb customer service, they will probably be willing to pay for your product or offerings. People love freebies, so anything you can hand out for free that has your company logo on it is a win.

5. Take advantage of social media.

Social media platforms like Facebook, Twitter, and Instagram are ideal for connecting with your customers. Keep your current customers up to date by sharing images, company updates, and featured products, and encourage your fan base to share your posts with their friends. This is also a great space to respond to questions and inquiries, including negative feedback, and show potential clients your great customer service skills.

Attracting new customers is imperative if you want your small business to continue to grow and succeed. The above ideas are simple to implement and should start you on your journey to acquiring new customers. If you’re just starting out on your business venture, KLC Financial can help. Whether you need access to working capital, require new/used equipment, or just need to furnish your new office, KLC has a solution. Contact us today to learn more about our services and how we can help your business grow.

A Letter From KLC’s President, Marc Keepman

Team KLC, customers, lenders and vendors,

First, I want to thank you all for your deep commitment to the success of our relationships. Congratulations on a job and Year well done! Through your personal efforts we have achieved our goals, furthered each other’s businesses and accomplished yet another record year!!  

To reward our team we have taken them with their spouses to Cabo San Lucas for some well-deserved rest and relaxation. We take the entire team because they are all part of the success of the company.  We enjoyed relaxing time on the beach and great food, did some whale watching and toured the sights on a dinner cruise.


Marc Keepman


KLC Financial, Inc.


Thank you for a great year! Here are a few pictures of the KLC Team and their families enjoying the sights and flavors of Cabo San Lucas.

KLC ship

KLC ship

KLC ship

In the News: Spencer Thomas

FOR THE LIFE OF THE DEAL …Involve the Asset Manager Early and Often

Utilizing the asset manager throughout the sales cycle makes a significant and constructive difference. KLC Financial’s Spencer Thomas notes that involving asset managers at the onset of the deal helps business development run much more smoothly and makes the deal much more profitable.

By Spencer Thomas, CLFP

Asset managers are in and of themselves, a valuable “asset” in all equipment leasing organizations, both large and small. They contribute significantly to the overall company asset strategy. They help determine the resale value at the beginning of the sales process to better set the term and the price of the lease and they help with the end-of-lease value and negotiations with the customer; all while the sales person stays in their good graces. The asset manager also helps with future growth of the leasing organization by identifying industries that are trending positively and the equipment those industries use that would be beneficial to lease. Utilizing the asset manager throughout the sales cycle plays an important role in the success of equipment leasing organizations.

As such, it is valuable for the asset manager to partner with the sales team early on in the sales cycle to evaluate the resale value of the equipment right from the beginning. The asset manager can do the research to better understand and determine the true value of the equipment. They ask important questions such as: Are there any nuances the company should know about before buying the piece of equipment? Is it the right make and model for a healthy resale value? Are there any technology changes that have happened lately and/or is there any talk about upgrading technology by the manufacturer? These are valuable questions to have the answers to before signing a lease agreement with a customer. As an added bonus, while the asset manager is talking to the vendor about the equipment, they can spearhead remarketing agreement discussions thus allowing the sales person to focus on executing the sales strategy.

Recently, I heard from a leasing company that one of their customers purchased a four-year old piece of medical equipment. The customer was excited about the price and did not need the latest technology … an older version was just fine. The sales person at the leasing company was not aware that the technology was outdated and structured the lease to receive a healthy residual at the end of the term. Their prior experience had proved that medical equipment has a strong life cycle. As the end of the lease term was approaching, the asset manager was researching the value and discovered the equipment was almost worthless due to a recent technology upgrade. As you can imagine, this was a bitter pill to swallow. Technology has progressively become a key component in all types of equipment. As technology aspects increase, so too does the risk for obsolescence – even in equipment that historically has had a 20-plus year life cycle.

Hence, having the asset manager involved early on in the sales cycle is valuable in determining the right deal structure. They can do the due diligence to determine the life cycle of the specific piece of equipment, and determine when the most significant drop in value seems to occur. The asset manager conducts more research and answers more questions: Is it the age of the equipment? Maybe rather than age, is it the numbers of hours the equipment is used? In the end, it’s probably both. This way, there are no surprises (except for the outliers) and the deal has the term and the price for the ideal amount of return: Short term versus long term, FMV or $1 out, or can an early payoff option be
included and so forth. Now the sales person has a powerful tool in their pocket when selling to the customer and is more likely to get the deal approved by credit with a stronger deal structure.

As the end of lease approaches, the customer has a choice to renew, purchase or return the equipment. It is helpful when expectations on both sides are set at the beginning. Before discussing with the customer, the asset manager conducts an evaluation to determine if it is in the company’s best interest to have the customer return the equipment or to sell it to them. Again the asset manager answers more questions: Who are the potential buyers and what do we think we can get for it? How much will it cost to store and sell? How quickly can we sell it?

All of this due diligence puts the company in the right position to negotiate with the customer. If there is room to negotiate the purchase option, the sales person can over-deliver and give the customer a “deal.” They are now the “good guy” for both the company and the customer and there is opportunity for repeat business. Furthermore, this end of lease work can consume a great deal of the sales person’s time … time better spent bringing in new business and closing deals. The asset manager takes the lead and conducts the research needed to achieve the best possible outcome. In addition, the asset manager has done a lot of the work already by understanding the asset before the lease was signed, setting up the structure for success and establishing relationships with the vendor and/or remarketing companies to partner in selling the asset if it is returned.

Moreover, the asset manager can help create a strategic targeted vendor program to strengthen the organization’s portfolio. For example, what type of equipment is “hot” right now? What type of equipment is holding its value? What are the emerging markets that don’t have a lot of competition to date? With answers to these questions, the asset manager can work with credit to put together a very competitive program for vendors.

Remember the words of The New York Times best-selling author Charles Duhigg: “Between calculated risk and reckless decision-making lies the dividing line between profit and loss.”

Utilizing the asset manager throughout the sales cycle makes a significant and constructive difference. Most importantly, involving them at the very beginning helps the business development process run much more smoothly and makes the dealmuch more profitable. The asset manager digs deep by asking essential questions and does the research necessary in order for the leasing organization to make a more educated decision when entering into a lease agreement.

ABOUT THE AUTHOR | Spencer Thomas, CLFP, is the Executive Vice President of KLC Financial.

Are You Taking Advantage of the Section 179 Deduction?

If you are a small business owner, there is still time to take advantage of the Section 179 Deduction before year end.

Section 179 makes it possible for businesses to deduct the full purchase price of qualifying equipment/software that they have financed or purchased during the relevant tax year. If you leased or bought qualifying equipment in 2016, you may be able to deduct the full purchase price from your total gross income.

If you want to take advantage of the Section 179 Deduction this tax year, all software and equipment must be financed by midnight of December 31st, 2016.

What is the Section 179 Deduction Limit?

The 2016 deduction limit is $500,000 with an annual business investment threshold of $2 million. If you go over this limit, the amount you are able to deduct will be reduced dollar by dollar. If your gross income exceeds $2.5 million, the Section 179 Deduction is no longer applicable.

What is Bonus Depreciation?

Good news! 50% bonus depreciation has been extended through 2019. Bonus depreciation makes it possible for both small and large businesses to depreciate 50% of the total cost of equipment acquired during 2015, 2016, and 2017.

Are you ready to take advantage of the Section 179 Deduction? There is still time to purchase or finance new/used equipment! Contact KLC today to discuss your options.

If you’d like to learn more about the Section 179 Deduction, click here.


3 Key Elements to Look for when Partnering with a Finance Business in MN

When it comes to financing your company’s needs, there are things you don’t want to take chances with.  It’s incredibly important that whomever you choose to partner with financially is dependable and dedicated to meeting your specific requirements.  When you’re on the hunt for a financing company, there are a few key elements you’ll want to keep in mind to protect yourself and ensure success.  Read on to find out how to select the finance business in MN perfectly suited to meet your needs.

1.  Look for flexibility

Flexibility for a finance business in MN can take on various faces, but what we’re thinking here is the ability of an institution to come alongside of small or large companies, start-ups or seasoned businesses, and various credit profiles and successfully assist them in financing their goals.

2.  Make sure your equipment needs are in their profile

You may need dental equipment, medical equipment, office equipment, or construction equipment.  Companies are diverse and your finance business should be able to keep up with those standards.  Before wasting anyone’s time, make sure that the equipment you need is in the wheelhouse of your financial partner.

3.  Don’t be soft with customer service

If your finance company doesn’t put you first and do everything they can to creatively problem solve and customize a plan for you, then it’s time to look elsewhere.  Customer service needs to be as important to them as it is to you in order for your venture to continue successfully.  Look for a finance business in MN that’s interested in long-term relationships and not simply short-sighted revenue boosts.

KLC Financial meets these requirements and more and is your premier finance business in MN.  Here at KLC, we thrive on flexing to meet your needs and fashion creative solutions for your company.  We offer a wide variety of equipment leases and financing options and we always put our clients first.  Our relationship with you and your success is of the utmost importance to us.  Let us prove it to you by contacting us today.

In the News: Marc Keepman Voted in as Treasurer of NEFA

Marc Keepman, President of KLC Financial, Inc. was recently voted in as Treasurer of the National Equipment Finance Association (NEFA). The NEFA Board of Directors is made up of 13 members who have demonstrated leadership in the leasing industry.

Marc has more than four decades of experience in the leasing and finance industry. During his career, he has worked with hundreds of banks and financial institutions, structuring transactions and funding over $1.2B. He is an active member of a number of different associations and is honored to serve on the NEFA Board of Directors.

The National Equipment Finance Association is a national association serving small- to mid-size independent equipment finance companies, lessors and brokers.  With roots going back almost thirty years, through its two predecessor organizations, UAEL and EAEL, today’s NEFA is a strong association offering enhanced programs, premium networking opportunities and greater geographic and industry segment diversity.

Click here to learn more about the NEFA Board of Directors.

Financing in Minnesota – KLC Financial

Founded and headquartered in Minneapolis/St. Paul in 1987, KLC Financial is a premier lending company providing financing in Minnesota to the Midwest, as well as the rest of the country. Whether you have a small startup or are a large enterprise looking to expand, we provide the capital and flexibility to help make your dreams a reality.

As a small company, we offer flexibility in terms as well as payment options that you can’t always get from a larger financial institution, especially if you are a smaller business with limited credit. Our finance experts can provide your company with creative options to help you get your plans underway. Where the larger, more rigid banks often say “No,” we can frequently say, “Yes, and here’s how we can make this work…”

Because we have such long reaching roots in this business, we are networked to businesses most small companies do not have access to. Where the big boys won’t bend, the little guys don’t have the resources to help get you where you need to be. That’s where we come in. Our extensive connections play a vital role in providing you with options for debt restructuring or capital infusion.

Financing in Minnesota and the rest of the country has provided us with the experience you need to see your goals achieved. It’s possible, and probable even, that you have not been presented with all the options your company has for obtaining revenue to expand or to get things moving more quickly in the direction you desire your company to go. Why not sit down with one of our experts and find out all the different avenues that you can pursue? The consultation is free and we’re sure you’ll leave with more knowledge than you came with.

At KLC Financial, we have worked with a wide variety of businesses both large and small ranging from construction companies to medical professionals.  We understand your needs and can help you to get to where you want to be.

KLC Attends NEFA 2016 Funding Symposium

The team at KLC attended the National Equipment Finance Association (NEFA) 2016 Funding Symposium this past week. The conference took place in Bloomington, Minnesota at the Radisson Blu Mall of America.

Finance Professionals from around the nation gathered at the Mall of America for the 2016 Funding Symposium to strengthen existing relationships, network, exchange ideas, and bring new knowledge back to their own companies. Attendees had the option to attend a variety of workshops and educational sessions as well as participate in exclusive networking opportunities.

Two of our team members had the pleasure of speaking at the conference. Spencer Thomas shared his experience during the Building Lasting Relationships session, and Shannon Smith shared his expertise during the Risk Management session. Marc Keepman, president of KLC Financial, is on the NEFA Board of Directors.

About NEFA
The National Equipment Finance Association (NEFA) is a national association serving small- to mid-size independent equipment finance companies, lessors and brokers. With roots going back almost thirty years, through its two predecessor organizations, UAEL and EAEL, today’s NEFA is a strong association offering enhanced programs, premium networking opportunities and greater geographic and industry segment diversity.

Thinking about joining an association? Click here to learn more about the professional and educational benefits of joining an industry association.

5 Simple Ways to Improve Your Credit Score

Your credit score influences everything from your mortgage to getting approved for business loans. If you own your own business, your credit score is probably something you think about often, especially when it comes to making financial decisions.

Is your credit score in need of a boost? While credit scores don’t improve overnight, there are a few simple things you can do to change your score in a relatively short period of time. We aren’t talking days, but if you have patience and keep a close eye on your finances, you will see improvement.

Here are 5 simple ways to improve your credit score.

1. Get a copy of your credit report

By law, you are allowed one free report every year. Visit if you haven’t done so already. After you receive it, be sure to print it off or save it for future reference. Once you have the report in your hands, look over everything. Be meticulous. Make note of any errors such as unpaid bills or late payments and then send a dispute so you can get these removed.

2. Always pay bills on time

This might seem obvious, but many people struggle to pay their bills on time every month. If you miss payments or consistently pay late, you’re hurting your credit score. Make all of your payments on time, every time.

3. Pay down credit card balances

Paying down your balances is a simple way to improve your credit score. Ideally, you should use as little of your available credit as you can. It’s generally recommended that your credit utilization, what you owe versus how much credit you have, is lower than 30 percent (10 percent is ideal).

For example, if you have a $10,000 credit limit and a $3,000 balance, your credit utilization is 30 percent. If you are over the suggested percentage, you can boost your score by paying down your balance.

If possible, pay off your balances or make multiple payments every month, especially if you use your card for everything and have the means to pay it off immediately.

4. Increase your credit limit

If you’re struggling to pay down your balances, see if you can increase your credit limit. This is a great way to improve your credit utilization, just don’t go crazy and spend more because you have more credit available.

5. Negotiate

We all go through rough times. If, at some point, you stopped paying your credit card bill, talk to a creditor to see if they can “erase” your debt. Figure out what you can realistically pay towards a debt and offer to pay a lump-sum or make monthly payments. Often times they will accept a lower amount if you are willing to pay a lump-sum, just be sure to get everything in writing.

Debt Restructuring

Need help restructuring your debt? KLC Financial can help! Contact us today for more information.

Medical Equipment Finance MN: KLC Financial

At KLC Financial, we have been providing necessary capital to all types of businesses for more than thirty years. We work with a variety of companies. Whether you are looking for medical equipment finance in MN or you want to purchase a restaurant in Chicago IL, we can help you take the next step toward your dreams.

If you are a startup just getting your business off the ground or an established company looking to renovate or expand, we have financial packages available that can help you. Because we are smaller than the massive loan banks out there, we have flexibility they cannot always provide. We are able to consider your particular situation and custom cater a financial solution to work with you and your needs.

In our long history we have accumulated experience working with businesses of all sizes and people from all walks of life. We can help a small, independent company with a small loan of $3000 or a Fortune 500 company with large loan of $3m. We offer creative solutions for companies of all credit profiles and can help you with new or used equipment loans.

To date, KLC Financial leases or lends roughly $35 million dollars every year.

Since our beginning in Minnesota in 1987, we have built a massive network in various industries. This gives us access to equipment options that you may not be aware of. For example, if you are a clinic looking to expand and you need medical equipment finance in MN, be sure to contact us FIRST. By utilizing our extensive network, you may find options available to you that you wouldn’t otherwise consider, saving you time and money.

At KLC, we are specialists in the areas of equipment leasing, equipment financing, working capital, and debt restructuring. If your company would benefit from our expertise in any of these areas, we hope that you’ll give us a call and let our friendly and knowledgeable team of professionals go to work for you.


8 Simple Ways to Boost Your Productivity at Work

We all have those days at work where we struggle to get things done, especially after coming back from vacation or stepping in to take over someone else’s workload. If, however, you find yourself feeling unproductive and it’s a constant battle to complete tasks or projects on a daily basis, it might be time to make some changes.

Instead of working overtime and putting in long hours at the office, why not practice working smarter? Here are 8 ways to boost your productivity at work.

  1. Track Your Time

This may seem tedious, but if you track how long it takes you to complete each task for a week, you will get a clearer picture of where your time is being spent. This includes everything from writing emails and projects to lunch and chatting with coworkers.

There are a number of great time tracking apps out there but a notebook or planner work just as well. Be honest with your tracking. At the end of the week, look over your results to see where you spend the most time. If you’re dedicating more of your day to emails and conversations than you are to work projects, make a plan for using your time more efficiently.

  1. Complete the Hard Tasks First

We all have those tasks that we dread doing, the hard ones that we feel are going to take half the day and suck the life out of us. Instead of procrastinating and pushing them to the end of the list, do these tasks first. Once this awful chore of a task if completed, everything else will seem easy in comparison and you won’t have to stress out about getting it done. Less stress often leads to a more productive workday.

  1. Create Your Schedule for the Next Day

Before you leave the office or shut everything down for the night, create your schedule for the next day. Prioritizing your tasks the night before will make it easier to jump right into your work the next morning and also gives you the satisfaction of crossing things off your list. Schedules are a great way to stay organized andfocused, and they allow you to work more efficiently because you know exactly what needs to get done.

  1. Take Breaks

If you start to feel mentally-fatigued, take a short break (5-10 minutes). Take a walk, go get a cup of coffee, or step outside for some fresh air. Long tasks are draining, and your performance and productivity can start to slip if you don’t give yourself a few minutes away from your work.

  1. Stop Multitasking

While it may seem like multitasking will allow you to get more done in a shorter period of time, it can actually make you less productive. Working on multiple tasks can be distracting and the quality of your work may suffer.

  1. Decorate Your Workspace

This may seem odd, but research has shown that people are more productive in aesthetically pleasing environments. Add personal touches like plants, pictures, or awards to dress up your space. Personalizing your environment will not only make you happier, it may make you feel more relaxed and driven.

  1. Turn Off Notifications

It’s hard to ignore the “ping” of an email, text, or voicemail, but these can easily turn into a distraction. If you can, turn off notifications while you’re at work and schedule time throughout the day to check them.

  1. Exercise

Taking the time to move your body every day, whether it be a walk, jog, or yoga session, not only benefits your body, it benefits your mind. If you want to feel more alert and productive, start your day with a workout or head to the gym during lunch.

In addition to following these simple tips, make sure you are getting enough sleep at night for maximum productivity at work. Don’t forget to enjoy your days off and spend time doing whatever makes you feel happy and relaxed.

Is a lack of necessary equipment effecting the productivity and performance of your company? KLC offers a variety of finance and equipment leasing services to businesses nationwide. Whether you need a construction loan or leasing for dental equipment, we have a program for you. Contact us today to learn more.



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Minneapolis, Minnesota – August 18, 2016 –  KLC Financial, Inc. (KLC) a market leader in commercial equipment leasing & financing businesses nationwide, is  proud to announce the restructuring of debt for a local manufacturing company.

A Full Service Plastic Injection Molding Company with over 30 years of experience was in need of a significant equipment debt refinance. They were referred to KLC through a local asset-based lender that was currently handling their receivables. The company had gone through a few challenges due to the expansion of two locations, a delay in the launch of a large new customer program and an international plant move. This caused their profitability to be down and their bank to pull in the reigns on their financing relationship.

KLC was able to come in and restructure $1.8MM of debt, freeing up $200K in annual cash flow for the business. The ownership team’s execution of their new strategic plan along with KLC extension of financing gave the company what they needed to continue to be successful. The company has had a fantastic 2015 and an even better 2016 and we are proud to call them our client.

“Our experience with KLC Financial . . . was a refreshing process, [KLC] was a hard charging and take no prisoner’s business . . . [partner] and . . . [they] worked quickly to put together an equipment refinance package that no one else came close too. We thank . . . [them] for . . . [their] speedy efforts and drive to close our deal and we look forward to other future deals with KLC . . .,” said the CFO of the company.

KLC is a Minnesota based company with a strong reputation for providing custom equipment leasing and financing solutions.  KLC has established strategic programs with a host of banks, equipment vendors and other equipment finance companies nationwide.  This has resulted in client relationships generating consistent growth in equipment lease and finance agreements annually.  While continuing to build volume profitably, KLC is committed to establishing solid, long-term relationships with clients, investing partners and referral sources.

For more information about the leasing and financial business services provided by KLC Financial please visit  or contact the customer care team at

(952) 224-4300.

Construction Equipment Loans MN

Construction Equipment Loans MN-

Based out of Minneapolis/St. Paul, MN, KLC Financial has been helping businesses with their financing needs since 1987. We are an independent company which gives us more flexibility in getting the capital you need for your company. We are able to work with you to find a payment schedule that works with your budget so that your construction company can grow.

At KLC, we work with all types of companies, from small startups to booming companies that need more equipment or resources to continue growing. We offer funding options for both new and used equipment and have provided solutions from as little as $3000 to as much as $3m.

If you are in the construction business and would like to take a look at some of the companies we have helped in the past, we encourage you to click here. Because we are not a huge, impersonal bank, we are able to get more creative with your loan options which helps you with a payment plan and down payments that you feel most comfortable with. You will see that we have provided many construction equipment loans to companies in MN but we work with people all over the nation.

We can even refinance your current assets to free up cash, improve your liquidity, and put your existing money to work for you.

Staying in business for nearly thirty years can be challenging. The business world and the economy is continually in a state of flux. Our experience and the flexibility we are afforded is what has helped us to maintain our position as one of the premier lenders/financiers in the country. Our reputation is solid and our track history proven.

If you are in the market for new or used equipment or machinery, we hope you’ll take a few minutes to contact us. Our straightforward approach and multiple funding options will give you the tools you need to make a wise investment in your company.

Restaurant Financing MN – KLC Financial

Restaurant Financing

At KLC, we have been helping aspiring restaurant owners with funding for years. Restaurant equipment, though quite expensive, is a necessary investment if your business is to succeed and thrive. It is estimated that, when financing equipment for restaurants, a person should be prepared to spend between $110k and $120k.

But there’s more expense involved in starting a restaurant than just kitchen equipment.

Here are some of the less frequently considered expenditures you should be prepared for when you start up a restaurant business:

1.) Insurance – You will need a policy that protects your restaurant from daily losses that can happen during the day-to-day of your operation. You will want to verify that your coverage includes property damage, accidents, theft, and workman’s comp.

2.) You will be stocking from scratch – Unless you are stepping into an existing restaurant business, you will need to stock everything. Along with food, you’ll need a variety of items ranging from napkins to dishes, from silverware to paper towels. You will need cleaning agents, flatware, tables and chairs…

The list is long and the chances of you stocking everything you need before opening day is slim. Chances are, you’ll be acquiring things you need for months after your first customers have arrived. Be prepared to spend more than you think you will on this step.

3.) Advertising – This one is overlooked at your peril. They say word of mouth advertising is the best kind and, while that’s certainly true, consider this: when was the last time you were talking with your friends and you recommended anything?

That’s not to say these discussions don’t happen, they certainly do, but not as frequently as you might think. If someone asks you who a great mechanic is, you’ll talk about mechanics. But if the subject doesn’t come up, your mechanic won’t get his endorsement that day.

Not everyone will be talking about your restaurant all the time. It will happen sporadically, naturally and it will help you grow when it does. But you cannot count on your restaurant being on people’s lips every day. You must be in front of them. Remember, most of the biggest companies in the world advertise. If it didn’t work, they wouldn’t spend money on it.

We hope these tips will be helpful. If you have questions or would like to discuss restaurant financing options, we hope you’ll contact us. We would love to help you get started on your dream.

KLC Summer Outings

KLC Financial has been busy this summer!

On July 12th, 2016 Spencer Thomas and Lesley Farmer golfed at the Minnesota Precision Manufacturing Association (MPMA) Golf Event. KLC sponsored a hole at this event to support the organization, and we would like to congratulate the winner, Chad Even from Jonaco, who walked away with a $150 gift card to Cabela’s!

MPMA has become the leading voice of the precision manufacturing industry in Minnesota. As an association they have introduced, lead and supported the initiatives and education that will keep manufacturing in Minnesota a strong and vital component of the state’s economy. MPMA

KlC also hosted an event on Tuesday, July 19th, 2016 at the Hunt and Horse Club in Prior Lake, MN as a big thank you to our partners.

Want to learn more about KLC or get involved in future events? Contact us today!

25 Inspirational Quotes for Entrepreneurs

Starting your own business is hard work. Whether you’re still in the planning stages, looking for funding, or you’re ready to launch your first product, a little extra inspiration never hurt. There will always be ups and downs, but a good quote from those who have gone before us (and succeeded) can help keep you moving in the right direction.

Here are 25 quotes to inspire you to keep going and find success.

“Eighty percent of success is showing up.” -Woody Allen

“The best time to plant a tree was 20 years ago. The second best time is now.” –Chinese Proverb

“Twenty years from now, you will be more disappointed by the things that you didn’t do than by the ones you did do, so throw off the bowlines, sail away from safe harbor, catch the trade winds in your sails. Explore, Dream, Discover.”   –Mark Twain

“The best way to predict the future is to create it.” -Peter Drucker

“Never give in–never, never, never, never, in nothing great or small, large or petty, never give in except to convictions of honour and good sense. Never yield to force; never yield to the apparently overwhelming might of the enemy.” – Winston Churchill

“When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.”– Henry Ford

“You shouldn’t focus on why you can’t do something, which is what most people do. You should focus on why perhaps you can, and be one of the exceptions.”– Steve Case

“A person who never made a mistake never tried anything new.” – Albert Einstein

“I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.” -Steve Jobs

“It’s hard to beat a person who never gives up.”– Babe Ruth

“When you cease to dream you cease to live.”- Malcolm Forbes

“Your most unhappy customers are your greatest source of   learning.” – Bill Gates

“I have not failed. I’ve just found 10,000 ways that won’t work.” – Thomas Edison

“Success is how high you bounce after you hit bottom.” – General George Patton

“If you can dream it, you can do it.” – Walt Disney

“In every success story, you will find someone who has made a courageous decision.” – Peter Drucker

“My best advice to entrepreneurs is this: Forget about making mistakes, just do it.” – Ajaero Tony Martins

“I can accept failure. Everyone fails at something. But I cannot accept not trying.” – Michael Jordan  

“Experience taught me a few things. One is to listen to your gut no matter how good something sounds on paper. The second is that you are generally better off sticking with what you know and the third is that sometimes, your best investments are the ones you don’t make.” – Donald Trump

“Failure isn’t failure unless you don’t learn from it.” – Dr. Ronald Niednagel

“Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma – which is living with the results of other people’s thinking. Don’t let the noise of other’s opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.” – Steve Jobs

“You can’t fall if you don’t climb. But there’s no joy in living your whole life on the ground.” – Unknown

“The two most important days in your life are the day you are born and the day you find out why.” – Mark Twain

“There is only one way to avoid criticism: Do nothing, say nothing, and be nothing.” – Aristotle

“The question isn’t who is going to let me; it’s who is going to stop me.” – Ayn Rand

A little inspiration goes a long way. Share these quotes, write them down, tape them all over your desk. Do what you need to do, but keep moving forward, stick with it, and never give up.


KLC Financial is the best Financing Equipment Company in Minnesota

Whether your business is just getting off the ground or you’re growing and need financing for equipment, KLC Financial can help you with . As an independent financing equipment company in Minnesota, we have options available to you that you may not get from some of the larger (or smaller) financial companies.

We specialize in helping businesses just like yours to procure the funding needed for financing equipment in MN or anywhere else in the country. We have creative ways of finding revenue for you so that you can purchase what you need to take the next step with your company.

Construction equipment, office furniture, dental or medical machinery…we can help you regardless of what industry you’re in. Since 1987, we have been helping entrepreneurs realize their dreams by providing them with the capital they need to achieve their goals. Be sure to see our clients page. It provides a number of examples of clients we have worked with in the past.

We also provide equipment for sale in Minnesota. If you’re in the market, please take a look at our equipment for sale page as well. We have some outstanding machines for sale at great prices.

However, financing equipment or other property is not the only service we can help your business with at KLC. If you’re in need of debt restructuring, working capital, or even equipment leasing, be sure to contact us. We have the experience and the assets to provide you with the revenue you need to keep your business heading in a positive direction. Our professionals are available to you on a daily basis so you can get the answers you need in a timely fashion.

At KLC, we take pride in our customer service. When you work with our team, you can rest assured that your phone calls will be returned promptly by someone who knows what they’re doing. You can trust us to provide you with the information you need to stay informed.



We can help your business lease office equipment

As businesses grow and thrive they frequently look to expand. At KLC we provide the capital needed to lease office equipment, move into another building, obtain machinery, or any number of other things that you need to continue to grow upward and outward.

However, established businesses aren’t the only ones we can help. We also offer creative solutions for startups and young businesses as well. Because we are a privately held company, we have a great deal of flexibility when it comes to the loans we provide and the businesses we loan to. In fact, we have worked with a large array of businesses in the past, from Fortune 500 companies to tiny startups.

Located in Minnesota, we pride ourselves on our warm, receptive customer service. Where some of the mammoth banks are focused only on huge customers, we are large enough to fund your company (we provide solutions from $3000 to more than $3,000,000) but we are also small enough to give you the attention you need to be successful. Unlike some bank equipment leasing companies, you will not have a difficult time getting us to return your calls.

We are always on hand to answer your questions and to walk you through the lease or finance process. Our goal is to establish a long term relationship with you. We have found that treating our customers with care has led to referrals and repeat business which has helped us to continually grow since our founding in 1987.

Regardless of the type of equipment you need we can help you. Whether you need to lease office equipment in MN or obtain a credit line in TX, we can help you to get the capital you need to move forward with your vision.

Obtaining equipment finance from a bank can be stressful. At KLC, we are committed to taking as much guesswork out of the process as we can. Give us a call today and let’s look into getting you the financing you need for continued success.

Millennials in the Workplace and why it Matters For Your Business

There is a new person in the office, and they go by Millennial.

These Millennial adults, individuals between the ages of 18 and 34, are taking over the workplace and bringing a whole new outlook to the business world. Millennials are not only changing the way we look at the office environment and the relationship between employers and employees, they are quickly becoming the most influential people in the market. Why does this matter for your business? According to Forbes, Millennials will make up 75% of the workforce by 2030.

The question is, what motivates and inspires Millennials in the workplace?

They Want to Work For a Purpose

Millennials want to feel like they are making a difference in the world. Regardless of whether they are working as a barista at the local coffee shop or sitting behind a desk typing away at the computer, they want to know they are contributing to something bigger than themselves.

They Want Opportunities to Grow

Many Millennials start off in entry-level positions or in unpaid internships, and they want the opportunity to move up the totem pole, and they want to move up fast. Make it a point to offer Millennials challenging work and set a clear path for growth. Promotions, even small ones, are a strong motivator, and take an interest in their success, they are more likely to stick around if they feel valued and can see a bright future with a company.

They Want Flexibility

Millennials value balance and freedom. They want a fulfilling job, but they also want to have a life outside of work. The Millennial generation as a whole has an entrepreneurial spirit, and they want to feel like they have some control over their work and their life. Offer flexible hours, make working from a home an option, or create an environment focused solely on results, not mandatory schedules and meetings.

They Want to Work As a Team

Millennials thrive on communication, teamwork, and social interaction. They want an open atmosphere where they can be creative and problem solve with coworkers. This generation is able to work in a diverse environment and they believe that they can achieve more and do more as a group rather than as individuals.

They Want Feedback, Praise, and Respect

The majority of Millennials grew up in a world where everyone was a winner. This doesn’t mean Millennials are lazy or shy away from a challenge, but they do like to know they are doing a good job and the hard work they put in is being noticed. Well explained feedback, praise, and recognition go a long way. In addition, Millennials want the same respect as older generations in the workplace. They want the opportunity to share their thoughts and ideas and to know that their contributions are valued.

For this collaborative, creative, tech-savvy generation, work culture matters. They want to form relationships, be led instead of managed, and overall, they want to know that the work they are doing is making a positive impact on the world.

Top 10 equipment acquisition trends for 2016

Equipment acquisition is critical in driving the supply chains across all U.S. manufacturing and service sectors. To assist businesses in planning their equipment acquisition strategies, the Equipment Leasing and Finance Association distilled recent research data to provide our best insight for the Top 10 Equipment Acquisition Trends for 2016.

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Some of that data came from the Equipment Leasing & Finance Foundation’s 2016 Equipment Leasing & Finance U.S. Economic Outlook Report, industry participants’ expertise and member input from ELFA meetings and conferences.

Given that this year U.S. businesses, nonprofits and government agencies will spend over $1.6 trillion in capital goods or fixed business investment, including software, these trends impact a significant portion of the U.S. economy. Of those assets, approximately 64 percent or $1.05 trillion of that investment, is expected to be financed through loans, leases and lines of credit.

Equipment leasing and financing provide the source of funding for a majority of U.S. businesses to acquire the productive assets they need to operate and grow.

Learn more
A video on the Top 10 equipment acquisition trends can be found at Resources about equipment financing, including a digital toolkit, can be found here:

Construction equipment comprises a significant percentage of equipment finance industry business. ELFA’s 2015 Survey of Equipment Finance Activity reported that construction equipment represented 11 percent of equipment financing new business volume reported by ELFA member companies in 2014, and as an end-user of equipment finance, the construction industry represented 8.1 percent of new business volume.

The annual What’s Hot, What’s Not equipment leasing trends survey conducted by Independent Equipment Company has ranked construction equipment first in portfolio preference among equipment finance executives for the last two consecutive years.

In 2016, businesses will find opportunities for equipment investment as solid market conditions and an improving U.S. economy prevail over global headwinds and potential policy changes.

ELFA forecasts the following top 10 equipment acquisition trends for 2016:

1. U.S. investment in equipment and software will hit a new high, but moderate as businesses hold back on spending. Business investment will reach a new all-time high level, but after a sustained period of increasing as a share of GDP, the equipment investment cycle has likely peaked. Manufacturing weakness, global uncertainty and low oil prices that have discouraged businesses from spending will further moderate investment growth rates.

2. End of zero interest rate policy will spur other businesses to invest before rates go higher. After the first short-term interest rate increase in nearly 10 years, look for the Federal Reserve to act gradually to make additional rate increases throughout the year. As a result, businesses that may have been hesitant about spending — particularly small firms — may be more inclined to pull the trigger to take advantage of still-low rates before they increase.

3. The growth of equipment acquired through financing will increase solidly, but more slowly. Despite large volume and a rising propensity to finance, the waning replacement cycle and businesses’ continued hesitancy to expand will slow the rate of growth.

4. Businesses will begin preparing for new lease accounting rules. After many years of anticipating the new lease accounting standard and attendant uncertainty in the marketplace, companies will move forward and prepare to adopt it. Although the new standard changes how leases are accounted for on corporate balance sheets, it will not impact the ability of companies to acquire productive equipment to grow their businesses. The primary reasons to lease equipment will remain intact under the new rules, from maintaining cash flow, to preserving capital, to obtaining flexible financial solutions, to avoiding obsolescence.

5. China’s economic woes will be a global concern. A sharp slowdown in China’s economy will be a threat to global growth this year. While the U.S. economy is somewhat insulated (only about 7 percent of U.S. exports are shipped to China), U.S. manufacturers will feel the impact of reduced demand in China as well as its trading partners (e.g., Russia and Japan) as their economies absorb the effects of China’s slowdown.

6. Equipment investment will vary widely by industry. Look for a handful of equipment verticals to account for weakness in business investment, and others to gain momentum. Among the underperforming types are agriculture, mining and oilfield, railroad, industrial and materials handling equipment. Medical equipment, computers and software are strengthening and construction equipment should remain solid with an improving housing sector.

7. Customer demand for greater flexibility and convenience will increase the use of non-standard financing agreements. Shifts in customer preferences for managed services (bundling equipment, services, supplies and software), pay-per-use leases and alternative financing will spur equipment finance companies to find innovative ways to fill the demand. These deals won’t replace standard leases, but will become a larger proportion of financings.

8. Low oil prices will continue to impede energy investment. In 2016, global oil production will remain elevated due to factors including improved U.S. oil industry efficiency and increased supply from China, Argentina and Iran. The result is likely to be sustained low oil prices, which will continue to dampen energy equipment investment.

9. Eyes will be on 2016 presidential election for potential policy shifts. The potential outcomes of the 2016 presidential election and their related policy implications will give businesses new factors to weigh when making their equipment acquisition plans.

10. Looming “wild cards” could influence business investment decisions. Additional factors could present headwinds to equipment investment in 2016. A low inventory of homes in a housing market poised for a breakout year could either cause construction investment to surge or push up home prices and deter would-be buyers. The stronger U.S. labor market could accelerate wage growth, which would cause consumer confidence and spending to rise, but may also spur inflation, which could encourage the Fed to raise interest rates faster than expected. Last, a threat of continuing terrorist attacks could present economic and policy implications that in the short and long term could divert capital spending resources.
Ralph Petta is president and CEO of the Equipment Leasing and Finance Association, the trade association that represents companies in the $1 trillion equipment finance sector.

Sleep Matters: Sleep Deprivation and Productivity

Are you getting enough sleep? If the answer is no, there’s a good chance you’ve noticed a drop in productivity, and unfortunately, less motivation results in less success. If you struggle to fall asleep or find yourself up at all hours of the night finishing a project or sending off emails, you’re not doing yourself any favors. The effects of sleep deprivation can be detrimental to your body as well as your mood, brain function, and your ability to focus. A few extra hours of sleep each night can work wonders for your attitude and your career.

What Does Sleep Deprivation do to Your Health?

Sleep deprivation is connected to a number of serious health problems including stroke, heart attack, obesity, and type 2 diabetes. When you don’t get enough sleep your body produces too much cortisol, a hormone that helps regulate the effects of stress on the body, which has a variety of negative side effects. Excess cortisol not only damages your immune system, but it makes you look older by breaking down collagen, that helpful protein that keeps your skin smooth and supple, more quickly.

But that’s not all. Lack of sleep makes you fat. When you’re tired, you’re more likely to reach for sugary foods to boost your energy levels and less likely to head to the gym. Sleep deprivation also slows down your metabolism meaning you burn less calories during the day resulting in weight gain, especially if you are too tired to exercise or make a healthy home cooked meal.

In addition, lack of sleep affects your mental and emotional well being resulting in irritability, cognitive impairment, memory lapses, impaired judgment, increased stress, and decreased creativity, all of which contribute to a decrease in productivity.

How Much Sleep Should You Be Getting?

On average, most adults need seven to nine hours of sleep every night. There are few people who need less than seven hours and those who need more than nine often have underlying health issues. If you find yourself lying awake at night unable to sleep, here are a few suggestions to help you fall asleep faster and sleep sounder.

  • Avoid caffeine in the afternoon- Drinking caffeine late in the day will keep you in the lighter stages of sleep resulting in poor or restless sleep.
  • Exercise- Rigorous exercise helps promote sleep, and while it’s generally suggested that you workout at least three hours before bedtime, some people are able to exercise right before they go to sleep and have no negative side effects.
  • Don’t eat big meals before bedtime- Heavy or rich foods can affect sleep and they also have the potential to cause heartburn. Avoid big meals, instead eat a light snack in the evening before bed.
  • ·   Wake up at the same time every day- Consistency is key. Getting up at the same time every morning improves both your mood and the quality of your sleep.
  • Quit working- While it may be tempting to finish up a task in the evening, working stimulates the brain and prevents your mind and body from relaxing and preparing for sleep. Put the phone and tablet away when you get home and allow yourself to unwind.

What are the Benefits of a Good Night’s Sleep?

When you get the optimal amount of sleep, you will be in a better mood and have more energy to get your work done during the day. Here are a few benefits of good sleep.

  • Quickly recover from distractions- When you’re well rested, you’re better able to handle distractions like chatty coworkers or inquisitive kids without breaking your concentration.
  • Prevent burnout- The burnout rate is higher for individuals who get less than six hours of sleep a night. Getting good rest may keep you at your job longer and make it more enjoyable.
  • Better decision making- A good night’s sleep increases your ability to make better decisions in less time.
  • Improved memory- If you want to retain information, sleep is the way to go. Sleep deprivation is extremely taxing on working memory.
  • Make fewer mistakes- Individuals that are suffering from moderate sleep deprivation have a 50% slower response time and they generally have a lower accuracy rate than a person that is under the influence.

An occasional late night isn’t going to negatively impact your life, but if you find that you’re running on low and becoming less productive at work, it might be time to take a look at your sleeping patterns. Make it a goal to get seven hours of sleep each night to increase your motivation and improve your overall health.

Tax Benefits for Financing Office Equipment

We previously posted a talk about the general benefit of financing and leasing equipment to run your business.  It doesn’t matter if you are looking for manufacturing equipment, medical technology, construction machinery, or office programing software, every type of business can benefit from choosing to finance and lease the office equipment that is needed to get their job done.   One of the specific ways a company can benefit is by taking advantage of the tax perks that come with leasing your assets.

Tax Deductible Expense

The only positive outcome of business expenses is that they are tax deductible.  Expenses are necessary in order to run a business.  It is unheard of to have a business without some kind of expenditures.  When you take advantage of a manufacturing equipment financing opportunity in MN, you can deduct your monthly fees from your annual tax payments.

Lowers Tax Liability

When you have a financing type lease it is possible to gain back some of your cash by claiming depreciation on the equipment that you possess.  For example, if you have a construction equipment loan, you can claim some depreciation funds each year of your lease.  Construction equipment doesn’t grow in resale value each year, it decreases.   Calculating out the depreciation value each year can actually lower your tax liability.

Strategic Leasing

Working with a commercial financing institution in MN will help you create the most strategic leasing terms to increase cash flow as well as avoid AMT (Alternative Minimum Tax) requirements.  Leasing and financing the right amount of medical or construction equipment can be managed in a way that will benefit your small business. 

There are several tax benefits for business owners who are looking for equipment financing and loans in MN.  Talking to experts in the field who are familiar with your industry and who can create flexible solutions that fit into your business model will help your company to grow and stay up to date with the latest technology.

Press Release: KLC Financial financed over $5M for a locally owned Trucking Company

Click here to view Press Release PDF


Minneapolis, Minnesota – May 17, 2016 – KLC Financial, Inc. (KLC) a market leader in commercial equipment leasing & financing businesses nationwide, is proud to announce the restructuring of debt for a local, family owned, trucking company. The company has been in business since 1928. They provide transportation services for state and federal owned construction projects in and around the twin cities metro area, along with commercial building projects throughout the country. They credit their success to their employees and their longstanding customer relationships.

KLC Press Release 5.17.16

Click here to view Press Release PDF

Breaking Down the Different Types of Business Financing in MN

Whether starting a new business or trying to make improvements to an existing venture, there is frequently a need for greater cash flow. Companies both big and small need to be constantly looking at their finances to make sure they are on track or to check if there are tweaks that should be made.  When talking about business financing, there are essentially two categories: debt financing and equity financing. Having a breakdown of these two types will give you more clarity when you are looking for help from a financing business in MN.

Debt Financing

Most business have debt.  This could be from purchasing equipment, buying real estate or even start-up debt.  When building a business, there can be many different ways in which you get the money you need to do your work.  This may even come from a variety of sources.  When you have loans out from different companies, it feels like you are continually getting bills and it never stops.  Your interest rate could be high or maybe you can’t even keep up with making the high monthly cost of the loans.  To make matters a bit easier, you can use a financing business in MN to come alongside your company to consolidate your loans or do what is called debt financing.  This is where your loans are transferred to one central loan.  This gives you just one loan (possibly with a lower interest payment) to pay every month which give you only one bill to help you pay off debt each month.

Equity Financing

This type of financing is also known as equity capital.  This is money that a company raises in exchange for ownership of a share in the business.  This is the gaining of investors in your company that may chip in their dollars as a long-term investment without expecting to see an immediate return.  Equity financing is a great way to make sure that you have more cash on hand in order to expand your business ventures.  Your investors could be from individual people to financing businesses in MN.

No matter which financing option you decide is best for your company, there are financing institutions that are available to help you make the right decision and provide creative solutions to help your business to thrive.