There are many benefits of equipment financing, providing your business access to the tools it needs to keep moving forward without having to sacrifice significant amounts of cash-on-hand.
- Full ownership of the equipment after the loan has been repaid which is particularly valuable for equipment that has a long life such as fabrication machinery.
- Tax effectiveness can be one of the biggest advantages of equipment financing. In most cases, a Canadian businesses payments are 100% tax deductible for equipment financing.
- Avoid cash flow challenges by avoiding the large initial outlay typically required for fabrication machinery.
- Flexible payment terms allow businesses to choose lease duration and payments to best suit the financial seasonality of their operations.
- Access to higher quality machinery is made possible by deferring the costs associated with purchasing equipment upfront.
To discuss equipment financing as a possibility for your business, please get in touch.
