Every year, I do a wish list around the holidays, and 2021 is no different. Let’s see what I’d like under the tree for this year. A Nice Increase for Section 179 Section 179 was made permanent a few years ago, and it’s received small annual increases since (this year it’s $1,050,000, up 10K from 2020’s $1,040,000). Ok,… Read More »
One of the more interesting (and complex) things I’m often asked is “what type of credit criteria is used in an equipment loan decision?” Honestly, B2B credit criteria can be complex because the answer is extremely varied, and depends on the business type, time in business, the company’s credit history (e.g., how much credit is in the business… Read More »
As we move through the 4th quarter of the strangest year ever (after the last strangest year ever), I’m struck by how things have changed, but also how many things have stayed the same. One thing that is sure to remain is companies rushing to get a Section 179 purchase or three in before the deadline. And as… Read More »
In an earlier post, I went over Crest Capital’s basic credit requirements. Two years in business, sufficient revenues, no bankruptcies, etc. Like any lender, our credit requirements will leave out many businesses. And over the years, I’ve received more than one angry email from someone turned down, trying to explain why they had to declare bankruptcy three years… Read More »
If you read here at all, you know I’m big on Section 179. It’s only the best tax deduction available to small and mid-sized businesses, and can make a huge difference in your bottom line. *For those who don’t know, Section 179 allows businesses to write off the full price of qualifying equipment (which is almost anything a… Read More »