Business owners in Montclair, NJ understand that the success of any company is partly due to the quality of tools and equipment available. However, the upfront cost of purchasing new equipment and tools can be rather prohibitive, forcing many entrepreneurs to take out bank loans to cover the expense, and taking on additional debt. Fortunately, there are ways for Montclair entrepreneurs to get the equipment they need, without placing a strain on business finances.

Bank Loans Are Not Always The Answer

When faced with large business purchases, such as acquiring new equipment, many Montclair entrepreneurs seek out bank loans to cover the cost. Apart from the prohibitive requirements to access bank loans, this form of financing places debt on the balance sheets. Unfortunately, the debt from bank loans often outlives the usefulness of the equipment purchased, and when it is time to replace a tool or piece of machinery, the cycle starts anew – only getting approved for bank loans the second time around is even more difficult because of the existing debt from the initial equipment loan.

The Benefits Of Leasing Equipment In Montclair, NJ

Leasing equipment in Montclair, NJ offer a whole host of options and advantages. First, leased equipment can be upgraded as new models become available. Instead of selling off old equipment and taking out bank loans to make up the difference, equipment leasing agreements allow business owners to upgrade, much like one would a personal car or smartphone. Second, any payments made on leased equipment – up to $500,000 – can be claimed as deductibles when filing taxes. Third, leasing equipment in Montclair, NJ also allows for other options, such as maintenance, cleaning, employee training, the option to buy, and more to be rolled into the agreement. Fourth, and perhaps the biggest bottom-line point of interest, there is no debt placed on the balance sheets. Leasing equipment in Montclair, NJ is a debt-free financing solution with manageable monthly payments. This allows New Jersey business owners to focus on running and growing their companies, rather than worrying about eliminating debt from bank loans for depreciating equipment.

Get The Equipment You Need Today

At The Capital Lenders, we are committed to providing the best equipment financing in Montclair, NJ. Our program covers a wide range of equipment – from construction to medical, IT, transportation, manufacturing, restaurants, and every industry in between. Contact us today at 973-577-4226 for a no-obligation analysis, and get the equipment your business needs, today.