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HomeDirectAccessReady to Get Back to Business? Financing Can Help | JLG
Equipment

Ready to Get Back to Business? Financing Can Help

Blog Posts - Dec 21

Ready to Get Back to Business? Financing Can Help

Owning a business is never easy, but keeping one open and operating during a global pandemic has challenged many in ways that business owners weren’t prepared for. And unfortunately, we don’t fully understand yet the implications of the last 18 months.

At a Glance Financing

What we do know, though, is that in the “new normal,” equipment vendors are struggling with supply and demand challenges, which has created a very competitive marketplace for buyers. This means that if a business is looking to add equipment to its fleet, they are likely facing long lead times before machines will be delivered.

And when equipment is available, we know that how to purchase it might be a concern — your business was likely slower than usual during the pandemic, which means reduced revenues and fewer cash reserves.

If this sounds familiar, you’re not alone. The good news is: you have options. The key to getting back to business is the availability of funds — and JLG Financial can help!

Below are insights from JLG Financial on how financing your upcoming purchases can help to increase buying power, control cash flow, and save on taxes to get equipment fast.

Increase buying power

Financing can leverage your buying power and free up cash with periodic payments, rather than one upfront purchase. And, financing makes it possible to add additional features or accessories to your equipment for a small payment increase.

Control your cash flow

Making small payments over the term of your lease means you can put your equipment to work right way, earning your business money while it’s paid off. This makes it easy to balance a business’s expense to revenue ratio.

Potential tax savings

In many instances, leasing provides a business with income tax benefits. This allows one to expense lease payments rather than depreciating the capital cost of equipment. Be sure to consult your tax advisor about how leasing can benefit the tax position of your business.

Get your equipment fast

Equipment financing doesn’t have to take a long time or be complicated, especially when you are ready to make a purchase. To streamline the financing process, identify the equipment and options needed to determine an approximate cost, then contact your financing partner to calculate your estimated payments and apply for financing.

For example, JLG customers in Canada can complete this form to have JLG Financial’s customer support team contact you right away. Customers in the U.S. should complete this form.

Once financing has been applied for, a JLG financing partner will give you a call to review your business details and discuss the finance options available. For example, financing allows a business to customize payments to match cash flow with these possible solutions:

  • Flexible buyout options
  • Three-month skip lease
  • Step-up or step-down option
  • Fair market value
  • Seasonal payment periods

Once the right financing has been selected for your business, and your financing has been approved and finalization of the finance documentation, your JLG lending partner will then contact the equipment dealer to notify them that the payment is in progress and ask them to coordinate equipment delivery with you.

Working with JLG Financial
Equipment financing is smart — and business owners like yourself are starting to catch on. It’s no wonder why. With cash flow advantages, leasable equipment options and custom payment structures, financing is a savvy way to acquire equipment for your business and stay financially flexible to tackle other opportunities.

So, as you work hard to get your business back to business, be sure to reach out to the JLG Financial team about customizable programs that will meet your business’s specific needs. With competitive interest rates and tailored payment structures to maximize cash flow, we can help you manage your whole fleet with 100% financing of any make or model of machine, new or used. We’re here to help keep your business running during these uncertain times!

To learn more about how JLG Financial can help you with financing equipment purchases, click here.

 

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