WASHINGTON, DC (May 1, 2017) — During National Small Business Week, April 30-May 6, 2017, the Equipment Leasing and Finance Association (ELFA) is sharing reasons why a large majority of U.S. businesses—nearly 8 in 10—finance their equipment. In an environment of heightened post-election optimism and increased capital expenditure plans among small businesses, firms will want to consider these compelling reasons as they make their equipment acquisition decisions.
“For small businesses that want to take advantage of new opportunities, equipment financing offers flexible, budget-friendly options,” said ELFA President and CEO Ralph Petta. “Equipment finance is on the rise in 2017, fueled by a steadily growing economy. We’re pleased to share some of the many reasons equipment finance will help ‘equip your business for success.’”
ELFA shared the following reasons and wide range of benefits businesses enjoy from leasing or financing equipment:
- Get 100% financing with no down payment.
- Maintain cash so it can be used for other areas of your business, such as expansion, improvements, marketing or R&D.
- Manage risk of a capital expenditure until it earns a desired return.
- Hedge against inflation with deferred future payments.
- Plan expenses of lease payments to match your cash flow and business cycle fluctuations.
- Keep up-to-date with technology by acquiring more and better equipment than you could without financing.
- Leverage equipment expertise from professionals who understand your industry.
- Avoid owning obsolete equipment since the lessor bears the risk of ownership.
- Outsource asset management from delivery to disposal.
- Get convenient product and service bundling in a single, easy-to-manage solution.
For more information about how equipment finance equips business for success, including an infographic of “8 Reasons to Finance Equipment for Your Business,” visit www.EquipmentFinanceAdvantage.org. The site also includes a digital toolkit, articles, informational videos, definitions of the various types of financing, a lease versus loan comparison, questions to ask when financing equipment and a searchable list of equipment finance providers.
The Equipment Leasing and Finance Association (ELFA) is the trade association that represents companies in the $1 trillion equipment finance sector, which includes financial services companies and manufacturers engaged in financing capital goods. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad. Its 580 members include independent and captive leasing and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers. For more information, please visit www.elfaonline.org.