Recently, there’s been a lot of hand-wringing in the press about the future of America’s business landscape.[2][3] It’s true that COVID-19 has caused big changes in the way companies operate. Many workers are still telecommuting. Almost all business trips have been cancelled, which has been hard on businesses like hotels, restaurants and airlines.[3] A lot of the people who work in these industries are looking to the government to help them out. However, another bailout could take several weeks, if it comes at all.[1] So what is a businessperson to do? Will everybody have to fold?
The truth is that American businesses have always found ways to flourish and adapt during economic downturns. The 2008 recession was regarded as terrible, but businesses including FitBit, Beyond Meat, and AirBnb were founded around that time.[4] Being able to see gaps in the market and maintain a positive mindset can be as important to business success as the overall economic picture.
Of course, financing is still important, too. That’s where Alliance Leasing comes in. Our equipment financing is different from a traditional loan. We offer quick approvals, with a turnaround time of about 24 hours.[5] That’s much quicker than the two to three weeks required by most banks. We don’t require a down payment, and we offer flexible finance programs. There’s even a 60-90 day deferred option, for businesses where new equipment will lead to higher profits right away.[5]
Equipment financing is a great option for businesses that need to pivot to offer another service or method of delivery. Best of all, section 179 of the IRS tax code makes it possible to deduct up to $1 million in equipment purchases.[6] The only requirement is that it has to be used at some point during this year.[6] We can finance everything from software to heavy equipment. Call us today. We’d love to help you understand your financing options.
Sources:
[3]https://www.cnbc.com/2020/10/12/best-western-ceo-fears-for-the-industrys-future-its-really-bad.html
[4]https://www.businessinsider.com/successful-startups-founded-during-great-recession-made-millions
[5]https://www.allianceleasing.net/equipment-leasing/#faqs