ELFA Tells Why Nearly 80% of Small Businesses Finance Equipment | Construction News

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 equipment.

The association says that 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 decide how to acquire equipment.  

“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 for and benefits from leasing or financing equipment:  

•   Get 100% financing with no down payment.
•   Maintain cash so it can be used for other areas of  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.  
•   Match expenses of lease payments to cash flow and business-cycle fluctuations.
•   Keep up-to-date with technology by acquiring more and better equipment than would be possible 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 financing equips business for success, including an infographic of “Eight 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 vs. loan comparison, questions to ask when financing equipment and a searchable list of equipment finance providers.