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What to Look for in a Equipment Finance Agreement

Oct 30, 2024 | News

Projects, pen on report

What to look for in an Equipment Loan Agreement

What to Review

  • The term and how many advance payments are being applied to the term
  • Do you own the equipment at the end of the term
  • Is the lien on the equipment or is it a blanket lien on my business
Section 179 Tax Deduction - calculator

Section 179 Allows a Business to Expense their Equipment Purchase

As of 2024, the Section 179 deduction limit is $1,160,000. This means that businesses can deduct the full cost of qualifying equipment and software purchased or financed during the tax year.

Section 179 Free Booklet

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5 Benefits of Buying New Equipment For Your Business

The decision to upgrade or purchase new equipment is critical to the success of your company’s growth. Businesses can reach a point where they have reached a stalemate and must invest in their operations for them to expand and become more profitable in the future.

Calculate Your Payment

Would you like a free copy of your Dun & Bradstreet report?

Just send me an email bgriffith@sclfinance.com

Vendors can offer a subsidy to lower cost of financing

Aug 13, 2024 | News

money

Vendors can offer a subsidy, allowing customers to purchase equipment at a reduced finance rate.

Why is offering a subsidy effective?

  • It enhances cash flow for both the customer and the vendor.
  • A financial subsidy can set a vendor apart from competitors.
  • It fosters customer loyalty
financial reports

Section 179 Allows a Business to Expense their Equipment Purchase

As of 2024, the Section 179 deduction limit is $1,160,000. This means that businesses can deduct the full cost of qualifying equipment and software purchased or financed during the tax year.

Section 179 Free Booklet

computers

5 Benefits of Buying New Equipment For Your Business

The decision to upgrade or purchase new equipment is critical to the success of your company’s growth. Businesses can reach a point where they have reached a stalemate and must invest in their operations for them to expand and become more profitable in the future.

Calculate Your Payment

Would you like a free copy of your Dun & Bradstreet report?

Just send me an email: bgriffith@sclfinance.com

Are you using old equipment? Is it time for new equipment?

Jun 20, 2024 | News

old equipment

Successful companies use the right equipment. Automating your processes and reducing labor costs can increase profitability. Financing helps companies secure the funds needed to replace older equipment.

Example:

  • Capital Equipment Cost: $100,000
  • Monthly Estimated Payment over 60 Months: $2,100
  • Under $350,000 No Financials Needed

(Please note – Programs are upon SCL credit approval and terms can change)

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Calculate Your Next Equipment Purchase

FED Hold Interest Rate

Jun 13, 2024 | News

FED keeps Rates Stable
News From SCL Equipment Finance

At the June 12th Federal Reserve meeting, Chair Jerome Powell announced that the benchmark lending rate will remain at its current level. Rates are stable for now.

As we enter the third quarter of 2024, we are seeing an increasing trend among our clients investing in equipment to streamline their processes through automation. Rates are still low when you finance equipment.

Hear FED Meeting Update
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Maximize Tax Savings

WHY YOU SHOULD THINK ABOUT SECTION 179?

In a nutshell, Section 179 of the IRS Tax Code allows you to deduct all of the cost of qualifying equipment purchases in the tax year when you make the purchase.

Section 179 in plain English
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What is your payment for your next equipment purchase?

Use our friendly online calculator to get an estimate of your next equipment purchase monthly payment. Please keep in mind this is an estimate only and could change due to credit.

Calculate Your Payment

Understanding Section 179 Tax Benefits for  Equipment Purchases in 2024

May 16, 2024 | News

Section 179 Calculator

TAX BENEFITS EQUIPMENT PURCHASES 2024

Section 179 is a tax code that allows businesses to deduct the full purchase price of qualifying equipment purchased or financed during the tax year. By taking advantage of Section 179, businesses can significantly reduce your taxable income and save money on their equipment purchases. This tax incentive is designed to encourage businesses to invest in their growth and development by making it more affordable to acquire the assets they need. For businesses looking to upgrade or expand their equipment in 2024, understanding and utilizing Section 179 can lead to substantial savings and financial benefits. Make sure to consult with your tax advisor to see how you can leverage this tax provision for your equipment purchases in 2024.

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