It’s a new year, a new decade, and the perfect time for your business to start that buildout project you’ve been considering. But don’t just look for a standard construction loan or extend your line of credit from your bank. Instead, talk with an independent financer to customize a lease or buildout project financing to cover new, exciting improvements to your business space!
If you answered yes to any of these, a buildout plan could be the solution you’re looking for!
Financing a buildout project can help your companies renovate, expand or redecorate your space. But why choose a finance plan from an independent financier over a construction loan or a line of credit from a traditional bank?
With a customized lease or finance agreement, you can include all expenses in the project, not just construction. You are allowed to roll everything from architectural and construction costs to furniture and carpeting into one plan. Traditional bank options typically won’t cover “soft costs” like services and software. Another bonus: you won’t tie up your line of credit, in case you need it for other pressing working capital needs that arise.
Your project will benefit your company, employees, and/or customers for many years, so consider spreading out the payments over several years as well. Pay for the improvements over a five to eight year period with a fixed-payment lease arrangement.
Did you know that lease payments are a tax deductible operating expense? Typically, this saves your company more money than claiming the depreciation expenses.
A commercial lease sometimes includes a Tenant Improvement Allowance. It’s an agreement from the landlord to reimburse the tenant for part or all of construction costs, usually a price-per-square-foot cost, but doesn’t include all costs.Tenant Improvement Allowances cover construction-related work, but not furniture, moving costs, software and other technology services. This is where a buildout plan can be very beneficial.
We are experts in the equipment leasing and financing field, and we have your company’s best interest in mind. KLC Financial customizes leasing and financing options to fit your individual business and never takes a ‘one size fits all’ approach. The solution that worked for one company isn’t necessarily going to work for your business. When you choose to finance with KLC, you’re choosing a partner that listens, advises, and provides creative, custom solutions.
If you’re ready to make 2020 the year you improve your business space, contact KLC today to get started! At KLC, we care about what you care about!
If you would like to have one of our Sales Representatives contact you and discuss what financing options are best for you and your business please fill out this form and someone will be in contact with you shortly.