The US economy has been seriously affected by the coronavirus. Many businesses are going through a time of change. The truth is that a recession can be a great time to put money into a business, or even start a new one. Some of the most iconic brands in the world got their start during economic downturns, including Microsoft, IBM and Disney.[1] Some of the wealthiest families in the US actually started building their fortunes during the Great Depression.[2] Many people today will also benefit by reframing their situation from crisis to opportunity.
For those entrepreneurs, Alliance Leasing is here to help. We know that somewhere out there, there’s a modern-day Ruth Wakefield developing a recipe with potential as big as her Toll House cookie.[2] Whether that person needs a better oven, a new delivery truck or other equipment, we can finance that. The list of equipment that we finance for businesses of all kinds is very extensive.
There are several types of businesses that are shifting to online models while social distancing is in effect. They include fitness, entertainment, and education. Alliance Leasing has experience financing equipment for all those industries.[4] However, many companies are shifting their production and require new types of equipment to assist in responding to this new economic reality.
Recognizing the unique needs of our customers, Alliance Leasing offers flexible finance programs including seasonal and deferred payment options. These programs are a good fit for businesses needing variable payment schedules. Working with numerous underwriters, Alliance Leasing has the ability to structure payments to meet the unique needs of our customer.
Best of all, equipment financing is fully tax-deductible up to $1.4 million under section 179 of the IRS tax code.[5] The only requirement is that the equipment be used during the tax year.[5] Overall, equipment financing is a great way to gain ground in the world of business, even during a recession.
[1] https://www.huffpost.com/entry/top-companies-started-during-a-recession_n_923853
[2]https://www.forbes.com/sites/chloesorvino/2014/07/11/rooted-in-recession-the-richest-families-whose-businesses-started-during-the-great-depression/#6a0238275134
[3]https://blinkingowldistillery.com/product/dirty-bird-hand-sanitizer/