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 »
2021 has been a weird year. The pandemic is still hanging in there, but we’re moving forward to some sense of “normality”. But this normal is indeed a “new” one. Regardless of where the economy is going (and we’re quite optimistic here), it’s clear that on the whole, everything is going to cost more for the foreseeable future. … Read More »
I’ve been asked more than once if Covid has affected the credit requirements for businesses looking to finance equipment. The short answer is “no, not for us”. There are lenders that have changed their requirements (specifically lenders that already took on high-risk loans), but Crest Capital’s requirements are exactly the same as they were pre-Covid. And with that… Read More »
Let’s wrap up my little “leasing and accounting” series by going away from the complicated, and embracing the simple. People ask me all the time “what is the best type of payment structure for my business, leasing or financing?” And I always answer with another question: “what is your company goal in wanting this transaction?” Here are the… Read More »