As a school you have many purchasing options available to you when it comes to acquiring equipment. Equipment financing provides many advantages and benefits that need to be considered before you utilize your cash, bank lines or credit cards. Here’s why more and more schools are choosing financing as their preferred purchasing strategy:
Preserve Your Cash — Maintaining adequate levels of working capital is critical to any organization. Financing provides capital to support your equipment procurement needs so that cash can be used for your vital operating needs.
It's More Convenient — Equipment costs up to $75,000 can be approved in minutes with only a simple one page application. No financial statements; no need to visit your bank’s branch office; no long wait.
Get Tax Benefits — Depending on the structure of the financing and your company’s tax position, you may be able to deduct the full monthly payment against taxable income. Equipment financing does not contribute to AMT exposure.
100% Fixed Rate Financing — Banks generally require a large down payment and force you to open a checking account as well as maintain a minimum balance. Commercial bank loans are also generally priced over the Prime Rate, which can fluctuate during the term of the loan. Equipment financing requires minimal money down and offers you a fixed rate for the entire term.