If you own or operate a small business in Cleveland, you know how competitive this town can be. Located just 60 miles from the Pennsylvania border and situated near the mouth of the Cuyahoga River, Cleveland is renowned for its historic manufacturing industry, biomedical companies, healthcare industry, and financial services companies. With a population of just under 400,000 residents, Cleveland offers significant opportunities for the business owner who knows how to think strategically and operate tactically. Between the residents of Cleveland and those who call the Cleveland-Elyria-Mentor, Ohio metropolitan area home, more than two million potential clients are ready to help your small business succeed. One of the key factors in running a successful business is partnering your company with a reputable source of small business loans and leases. At National Funding, we have positioned ourselves as the go-to lender for small businesses in the Cleveland area. And, if you’re looking for equipment financing in Cleveland – we’re the answer.
There are several ways to make your company stand out from your competitors, and one of the best is to invest in new or pre-owned equipment to give your business an edge. While acquiring equipment or technology is important, how you go about doing so is the real decision to make. Some business owners choose to pay cash for equipment, or they complete normal installment contracts. The problem with paying cash is that it may leave you in a position where normal fluctuations in revenue or last minute emergencies can leave you over-extended. And, financing equipment through traditional means can result in large monthly payments and a long-term commitment to machinery or technology that may not be current throughout the life of the loan. Equipment financing through National Funding is the ideal option for the majority of businesses today and offers a host of key benefits, including:
- Most equipment leases qualify for the IRS Section 179 tax deduction. This allows you to write off a portion of the lease and reduce your company’s tax liability. For some companies, this write off can help defray a huge portion of the monthly lease payments.
- Financing allows you to reduce your monthly outlay and minimize the impact of loan payments on your overall budget. This helps to free up cash flow and keep your company as stable as possible – ready to weather any financial storm or manage last-minute expenses or other emergencies.
- Financing allows you to return equipment after the lease terms is up, which eliminates having to arrange for the sale of existing equipment. You’ll also find that the ability to exchange your technology or equipment will position your company favorably among other businesses in the area.
At National Funding, you can choose from three basic lease programs. The first is our purchase option that combines low monthly payments with the ability to either renew the lease or return the equipment at the end of the lease term. Or, select the Dollar Buy-Out program that is designed so you can “buy” the equipment at the end of the lease term for just $1. Lastly, we offer a high-cost equipment lease that is designed to help you acquire equipment that costs more than $100,000. Most banks shy away from this type of lease – but we’re ready to say yes! We have delivered the absolute best in equipment financing to Cleveland-based businesses for over fifteen years, and we’re ready to help you. Contact us today to get started!