All manufacturing companies will need some type of manufacturing equipment at some point. Whether it is replacing old, inefficient equipment or investing in machines capable of creating new products, financing is the better way to do it as it makes more financial sense.
Spreading payments of revenue-producing equipment over time will help produce a positive cash flow immediately. It is possible because the revenue increase is larger than the payment for the manufacturing equipment financed. Various options are available to business owners looking to finance manufacturing equipment, including leasing, financing with a loan, or outright buying the manufacturing equipment.
The best manufacturing equipment financing option for you will depend on particular circumstances, including business size, long-term goals, and cash reserves, to mention a few. 1st Commercial Credit can provide fast approvals on equipment financing options that you can start using immediately.
1st Commercial Credit has a specialized team of experts who will assess your situation and provide you with customized financing for your small and mid-sized business. We offer manufacturers various finance products with many benefits, such as flexible terms and innovative services.
Some other advantages include:
Replace Old or Broken Equipment: this financing solution will allow you to replace equipment that’s beyond repair while maintaining healthy cash flow reserves. By upgrading to the latest technology, your business will stay competitive.
Potentially Save on Taxes: manufacturers can take advantage of Section 179 tax deduction to deduct the total cost of equipment from the current year’s taxes.
Enjoy Flexibility: equipment financing offers the utmost flexibility when buying equipment, with the option of keeping it at the end of the lease or renewing a lease.
Deal with Manageable Costs: the high costs of obtaining new equipment can be divided into easy payments over time.
Requirements for Equipment Financing and Leasing
Applying for manufacturing equipment financing is easy with 1st Commercial Credit. Fill out a short online application, and one of our specialists will contact you to learn more about your business and your equipment needs. We will help you decide which financing option is a good fit for your business needs and budget.
Manufacturers are choosing 1st Commercial Credit because of the following reasons: