Equipment Leasing: 5 Benefits for Small Businesses

If you are a small business owner, there’s a good chance finances are top-of-mind.

Running a business is a costly venture, so the question is, how do you acquire new equipment without breaking the bank? Equipment leasing is something thousands of large and small businesses take advantage of each and every year. Similar to leasing a car, an equipment lease allows companies to have accesses to the latest technology without spending a large sum of money buying the equipment outright.

Here are five benefits of equipment leasing for small businesses.

Save Money

Saving money may be the most important benefit for small businesses. Equipment leasing saves working capital, and equipment lease programs are generally flexible and can be tailored to meet your specific budget and needs with affordable monthly payments. This allows you to save and spend your hard earned money on other necessary business expenses.

100 Percent Financing

Equipment leases generally do not require a down payment. This allows you to save capital that may have been used for a down payment or to purchase the equipment and put it back into your business.

Access to the Latest Technology

Equipment leasing gives you the ability to upgrade to the latest technology. If you are in an industry where equipment is consistently updated with newer technology, equipment leasing will allow you to stay up to date with advancements as well as your company’s growing needs.

Business Credit

Equipment leasing keeps your business credit open. It’s imperative to have solid credit if you require funding for operational expenses, staffing, or expansions. An open line of credit gives you options as well as the ability to act if your business has unforeseen issues or needs.

Potential Tax Advantages

When you choose to lease equipment, lease payments are generally viewed as expenses and therefore may be tax-deductible.

As a truly independent financing company, KLC’s specialty is flexible, creative, custom solutions that support businesses that don’t easily fit the typical bank or finance company models. Are you interested in learning more about equipment leasing and the many ways it can benefit your business? Contact KLC Financial today to get started.