We’re talking about lending restrictions in 2024, and first up is the notorious blanket lien. First let’s talk about liens in general. In business/lending, a lien is when a lender claims the right to property belonging to the borrower until the debt owed by that borrower is discharged. The mainstream talk on liens is usually related to vehicles.… Read More »
In answering the question “is lending more restrictive in 2024?”, the answer is twofold. Yes, many lenders – especially banks – have tightened credit requirements overall. But what I’d like to talk about more are the restrictions that almost all banks use for business lending. I haven’t talked about these in a few years here, so 2024 seems… Read More »
One of the reasons my last post was about partial business-use vehicles is we (as in Crest Capital) have dipped our toes into this area. In late 2023, we quietly launched a new program to finance business-use vehicles and SUV’s in the company name. This may not seem like a big deal on paper, but in the real… Read More »
Let’s talk about partial business-use vehicles for a moment or three. Because we get asked about this a lot. Most of the questions are tax-related, and we can’t give official tax advice. But there are tax deductions for partial business-use vehicles, and most of them follow the same rules, which I’ll outline here. The big rule is how… Read More »
Sometimes I look at old blogs to see topics I haven’t discussed in a while. And one topic I like revisiting every few months is your company offering financing. If you read this blog, you’ll see I hit this topic a few times because I feel it’s an essential part of any business. But what spurred me to… Read More »