I’ve recently been learning a lot about equipment leasing at Taycor Financial. That’s one of the great things about working for one of the top nationwide equipment leasing companies of the country; you get to know the industry very well! Before I started working here, I thought that the equipment leasing industry was exclusively targeted to multinationals and big businesses; but that’s so far from the reality. If you think about it, every company needs equipment to conduct business, even the smallest ones. Buying business equipment outright to expand a business can be very expensive, and getting a loan from the bank is not always possible.
Leasing with a private equipment financing company like Taycor has a lot of benefits. First, equipment leasing programs allow businesses to spread payments over time, and save cash and working capital that would otherwise be used to purchase the equipment. Second, a lease is not considered a long-term liability, so payments are viewed as a business expense in the company’s balance sheets. That means payments are deductible expenses from the corporate income, reducing the net cost of the lease. Lastly, leasing equipment reduces the risk of obsolescence, making it a good option for businesses that need to upgrade equipment every few years.
I know this is a bit of an unusual post for my blog, but I find this industry very interesting and I wanted to share what I’ve learned. Especially for those of you who own a company, this is a really great option to consider if you need to expand your business!
Have a great day!