Thought Leadership

Understand New Lease Accounting Rules

Posted by Tyler Bryant Mar 31, 2016 2:38:56 PM

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A new lease accounting standard was released by the U.S. Financial Accounting Standards Board on February 25, 2016. Find resources and information below to help you prepare for the new rules.

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Tags: Equipment Leasing, Accounting

Why an industry expert partner is critical in an uncertain economy

Posted by Pete McSherry Dec 9, 2013 6:18:00 AM

cncmachinesObtaining equipment financing is difficult in tough economic times. It's a lot worse if you go through a regular bank and deal with people who don't work in the manufacturing industry. They see the economic world through a view point that probably is very far off from those of us who know the industry well. That's why it's imperative that you seek out people who are both experts in your business and in the loan business when it comes time for you to invest in new equipment.

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Tags: Equipment Leasing, equipment financing, Correct Financing Option, Banking

Why get pre-approved for credit?

Posted by Chris Kemp Dec 2, 2013 11:00:00 AM

You are in the market for heavy equipment to get a big job done, but you are not ready to buy just yet. Maybe you're still in negotiations for a specialized job that requires special machinery, or perhaps you can only break ground on the project at a certain time in the season. Even if there is going to be a hiatus until you need your equipment, you should not wait for the last minute to secure equipment financing.

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Tags: Equipment Leasing, equipment financing, Financing Pre-Approval, credit score, credit worthy, Credit

2 Financing Options to Solve Cash Flow Problems

Posted by Randy Freel Oct 8, 2013 5:00:00 AM

Large expenditures can make a business owner nervous. Committing a significant portion of your cash reserves to one asset can hamper your ability to deal with unexpected issues that may arise. But they are often necessary, if for example an older, outdated piece of equipment requires replacement. When your cash flow and your need to spend come into conflict, what do you do?

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Tags: cash flow plan, step plan, large expenditures, Connext Financial, financing options

The Agility To Act Now, With The Skip Payment Plan

Posted by Ed Testa Sep 25, 2013 5:00:00 AM

One of the keys to building a successful business is agility. Your business needs to have the ability to react quickly to new situations, or it risks being left behind by the competition. If you find a sudden and present need for a new piece of equipment, though, it can be tough to pull off – no matter how agile you are.

Unless your cash flow is positive or you have large cash reserves, such a need can be very harmful financially. You may just not make the acquisition, which can lead to lost revenue in the short and long term. Or you may end up in a messy financing situation, with an interest rate that’s far too high. There’s another option, though – the skip payment plan.

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Tags: key to successful business, skip payment plan, Connext Financial, short term, agility, cash flow, long term, high interest rate

Seasonal Payment Plan: Pay When You Can, Less When You Can’t

Posted by James Gregory Sep 17, 2013 5:00:00 AM

All businesses are different, but some are more different than others. For a seasonal business, performance is almost entirely dependent on the time of year. There’s little that the business can do to raise sales when they’re out of season, but in season it’s a juggernaut. This business, of course, would then have a unique need when it comes to financing a large purchase. With a large part of their control over revenue muted, it’s hard to maintain a constant level of outlay.

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Tags: seasonal payment plan, Connext Financial, Seasonal business, scheduling, out of season

Monthly Payments Too High? Two Financing Options That Help

Posted by Linda Reed-Yaffa Sep 3, 2013 5:00:00 AM

High monthly payments on important purchases can be a hassle. Your business might be growing, and ready to make the next step up in equipment – but you can’t pay for it at your current revenue levels. Or maybe you have cash on hand now, but aren’t certain that you will have it on demand for the next 24 months. Either way, your business needs new equipment now – but can you pay for it?

With the right financing plan, you can. There are two options perfect for a business that’s looking to lower monthly payments without suffering from pains like higher interest rates and vastly extended terms. One well-known way is the down payment plan. Think about a business that has just sold an older machine or closed an important bit of business. Because of this, while the business doesn’t have the financial capacity for a large monthly payment, they do have a significant amount of cash on hand. And they have the need for new equipment.

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Tags: balloon payment, High payments, Correct Financing Option, Connext Financial, financing plan

Cut to Fit: Make Equipment Financing Partnerships Simple

Posted by Chris Kemp Mar 28, 2013 5:00:00 AM

In our last post, we talked about some important considerations when choosing a partner for the financing of your business’s equipment purchasing. Since most rates fall in a pretty small range, there are more important things to take into account than cost. One category of these concerns is the partner’s reliability, but if it’s impossible to manage that partnership efficiently and pleasantly, their reliability isn’t enough to make the partnership work.

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Tags: Equipment Leasing, equipment financing, Connext Finance Experts, customer service, Connext

Is Your Equipment Finance Partner Reliable?

Posted by Gary Mauermann Mar 22, 2013 6:00:00 AM

When you choose a course of action for your business, typically your first priority is value. You want to try to get the most out of your money, so wherever you can, you try to cut costs and save. But when it comes to equipment finance and purchasing, that’s not the best way to go about it. Most rates fall in a pretty small range, so there are more important things to take into account than cost. There are two categories of relevant concerns – one will be covered in a later blog, but the other is the partner’s general reliability.

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Tags: Equipment Leasing, equipment financing, Connext Finance Experts, customer service, Connext

Section 179 & Bonus Depreciation: Know What Changed in 2013

Posted by Kevin Wright Mar 2, 2013 1:52:00 PM

To improve your business and stay ahead of the competition, you need to purchase new equipment from time to time. The problem is that with purchases like this, you expose yourself to depreciation and your cash flow can become constrained, which can result in your business being overextended.

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Tags: equipment financing, Section 179, Calculators & Tools, Connext Financial