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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.