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More than 4 in 10 small business owners would prefer NOT to finance equipment with their bank.

While you might jump to conclusions about the reasons businesses look for alternative sources of equipment financing, you might be missing the point—preserving working capital relationships.

Banks are getting pretty beat up these days. While there have been a few bad actors, the overwhelming majority of bankers are still there standing firm for their clients. Sure, relationships are more complicated, but the average bank has had to increase their legal and compliance staff by more than 200% in the last ten years just to keep up with the new “strength” requirements of our government. For many businesses, it’s not that banks can’t help with equipment needs; it’s that adding additional debt might limit or strain the bank’s view of your lines of credit.

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Free Web Development Tool – Equipment Financing Landing Page

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Ah, now we see you’re intrigued. FREE web development tool? That’s right. We’re not kidding around here. We’ve been implementing landing pages in our vendors’ sales strategies for some time now, and we want to get you involved too! If you’ve been curious by what you’ve seen on our blog so far, and are interested in working with us, this would be a great place to start. Check out the video above to see how simple the landing page process can be with SLS Financial.

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Growth stories are cool. Businesses finding ways to solve a problem in a unique way that leads to new revenues and growth—now those are the kids at the “cool table”. As businesses look at their strategic and tactical plans for growth, here’s a thought that might help them be one of the cool kids: Small businesses are 4 times more likely to describe their business as “growing” if they finance equipment over paying cash.

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Have you noticed that there is a move toward optimism in real estate, and across the commercial and industrial landscape? We see it in increased demand ~ perhaps you do as well.

When it comes to the great engine of economic progress in America, optimism breeds action. Action leads to investment and investment to growth.

With that as back drop ~ Prepare yourself to win more business!

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Let’s get this out of the way right off the bat – I’m a dog person. I can’t say it runs in the family though. On my mom’s side of the family, there are two households that have 2+ cats. Yes, we do get along, but the debate rages on… We all love our furry friends, no matter if we’re cat people or dog people. In fact, we love them so much that we’re spending record amounts on their well-being! http://www.nbcnews.com/business/consumer/americans-will-spend-more-60-billion-their-pets-year-n390181

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We also know that professional arborists require an assortment of gear to successfully complete their job – sometimes their safety depends on it (http://www.climbingarborist.com/blog_2lines.php). If you’re reading this far, you’re probably a professional arborist yourself, and you may be thinking about a few pieces of equipment in your arsenal that could use an upgrade, or maybe you’re ready to pick up some saws and pruners that you’ve been lacking. We certainly know that there are places out there that you can find a good selection of WHAT you need (like http://www.wesspur.com/) but we know acquiring your new equipment can be a pretty expensive ordeal. But you want to keep your business growing! Don’t let outdated equipment or a lack of equipment in general be what holds you back from success in your industry.

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What if businesses could have more or better revenue-producing equipment in service this year for a far lower net investment? Would it change how they look at your business? Bid on new relationships? Grow? In December 2015, Congress brought back the strength of the Section 179 Tax Deduction for businesses. Under the “Protecting Americans from Tax Hikes Act of 2015,” the Section 179 limit is expanded to $500,000 with additional benefits of bonus depreciation for amounts over $500,000. The new law will make this a permanent change, and that was really big news!

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Title photo from Barney Moss (https://www.flickr.com/photos/barneymoss/14008241153/)

Crack open a cold one, let’s celebrate a milestone! According to the Brewers Association, the number of breweries in the U.S. just crossed the 5,000 mark in the fourth quarter of 2016 in the United States. That’s not all, this is a NEW RECORD beating out previous records from 2015, and (believe it or not) 1873! Maybe let’s crack open two. (Source: http://fortune.com/2016/12/10/america-record-number-breweries/)

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In a recent independent survey of 1412 Small Business Owners (less than $10,000,000 in revenue) that make at least 2 equipment purchases per year…

  • Companies that pay cash for equipment keep equipment longer
  • Companies that pay cash for equipment have higher maintenance expenses
  • Companies that pay cash for equipment have more equipment down time
  • Companies that pay cash for equipment have more employee turnover

Think about it–the longer you keep equipment the higher the maintenance expense. Higher maintenance expenses typically mean that there are “down time” expenses because of equipment failure. And while these events are occurring, small businesses are perhaps missing the single biggest negative impact.

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