We chatted briefly with our Chief Credit Officer to talk business lately, what we’re looking forward to, and what to expect in Q4 2020. Construction The construction industry is definitely booming. A large amount of our business lately centers around anything from road construction to builders to landscapers as well [...]
Recently Spencer Thomas joined Shawn Gardner to discuss “Alternative lending sources when the bank says no.” The article covered the pros and cons of asset based lending, accounts receivable lending, and lease financing. The Vice President of SPECTRUM Commercial Services talked about asset based and accounts receivable lending, while our [...]
What is Section 179 expensing? Income tax laws generally require businesses to spread deductions of capital expenditures over the useful lives of the purchased property. Section 179 expensing takes its name from a section of the Internal Revenue Code (IRC). It allows businesses to deduct the entire cost of qualifying [...]
Are you in need of operating capital but aren’t able to obtain through your bank? Since April of this year, we are seeing more companies in need of capital. Let’s review some of the basics. What is Operating Capital? First things first: what is operating capital anyway? How does it [...]
Innovate. Change. Pivot. These are all words that have been our everyday life since the pandemic began in March. Thankfully, the KLC team hasn’t experienced too much disruption since the KLC culture supported workplace innovation and flexibility, even before the pandemic. Why? Workplace Innovation and Flexibility: Not Just Buzz Words [...]
Recently, Turnaround Management Association held a webinar, “What is Going to Happen to My Favorite Restaurant,” to discuss the challenges restaurants face as a result of COVID-19. The webinar featured a ‘virtual’ panel of experts, including KLC Financial’s Lesley Farmer. Takeaways from the webinar included the general uncertainty in the [...]
The best part of our business is meeting and working with so many truly amazing companies doing their part to make a difference. We’ve all been affected by COVID-19 differently, and the ways companies have adapted and responded is nothing short of amazing. For some KLC customers customers, that pivot [...]
Despite the most responsible planning, unexpected circumstances can pop up at any moment and disrupt the best laid plans. There’s no way to predict major catastrophes, natural disasters, or worldwide pandemics. And there’s no way to predict the impact they will have on your business and the worldwide economy. The [...]
There is a common misconception in this industry that we hear all the time: “Our customers have a lot of cash so they wouldn’t be interested in financing.” Or “Our products are not at the price point where customers would consider financing.” But the truth is, all companies, no matter [...]