Are you trying to buy more computing equipment with an even smaller budget? Technology financing is one option you may want to consider. Technology financing can help you stay within budget and get the computing equipment you need sooner. In fact, for many businesses, the real value of technology equipment can be in its’ use not in its ownership. Advantages include:
- Speed. Technology financing can get you the equipment you need quickly without a lot of credit documentation and hassle. In some cases, you may find a financing partner that offers “application only” requirements to get you what you need faster.
- Minimal up-front costs. While loans require up to 20% down payment, financing typically has minimal to no up-front costs.
- Flexibility. With a lease, your payment structure can often be designed to match the cash flow of your business. Different term lengths are also possible.
- Lower periodic payments. Financing often allows you to design payment structures that work for your business.
- Tax and accounting benefits. Some leases allow you to lower your taxable income by deducting lease payments. With others you can take advantage of accelerated depreciation under IRS Section 179. You should talk to your tax advisor to learn more about the impact financing could have to your business.
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