It’s September 2019, and that’s an important milestone for us. Because Crest Capital started business in September of 1989, which makes us… 30! 

30 years is a very solid milestone for a business. To make 30 years, you need tenacity, a clear vision, a commitment to great service, and maybe even a little luck. And we’ve had all of those in our three decades.

Of those, a commitment to great service is the biggest key. Because every business needs customers, and it’s rare to see a business survive long-term relying on only new customers. To survive years and decades, you need customers that come back again and again, and tell others as well. And happy customers do exactly that. 

We’ve built our reputation on speed and ease. Since our first days in 1989, we got small businesses approved for financing fast, and without reams of paperwork or crippling restrictions. We became an oasis in an industry otherwise known for slow approvals and excessive liens. Our customers got the equipment financing they needed fast, with personal service, and easy terms. And when they needed more equipment, an overwhelming percentage came back. In fact, looking over our files, some of our customers have been with us since the beginning, and that makes us very proud.

We’ve seen a few changes too. When we began, there was no commercial internet, so faxes and overnight courier were stalwarts. They’re still with us, but of course, e-mail has taken over as the communication workhorse. Our website works super hard as well, and we’ve extended this technology to our vendor partners, manufacturers and distributors. This way, they can offer branded “monthly payments available” right on their own websites. Their customers can get a payment quote and apply for financing immediately, which makes a big difference in their sales. 

But all this tech talk doesn’t mean it’s all 0’s and 1’s. We still have real people answering the phones, and keep that personal contact with our customers. Because a friendly voice always helps. In thirty years, that hasn’t changed one bit.

Another large part of making it to thirty years is not only the people we’ve served, but also the people we work with. We’re proud to be a place people want to work, and it’s apparent in everyone’s performance. In plain terms, happy employees are better employees, and better employees serve customers better.

Will we make it another thirty years? We think so. That’s the plan anyway.

When I posted about financing lab equipment last time out, I stated that it’s good to finance equipment that isn’t directly tied to profit. The thought being that if the equipment isn’t going to boost your bottom line right away, it’s clearly best to finance it over time.

And while that is true, the reverse is also true. It’s also great to finance equipment even when the equipment in question is going to immediately impact your bottom line in a positive way.

There are cases where a piece of equipment will pay big dividends from day one. Think of a tree service finally adding a large bucket truck. They are immediately jumping from the small jobs to the bigger ones – that’s a profound impact. I’ve known companies who have doubled or even tripled their revenues by adding one crucial piece of equipment. A bucket truck. A new delivery vehicle. A new machine that makes your manufacturing process 25% faster… these are all things that can have an immediate effect.

So why finance equipment in these cases? Because it may result in a positive cash flow every month, without any outlay. In other words, if you pay cash for a 45k widget maker, and it results in $2,000 of new revenue a month, you will need 22 and a half months before you break even. That’s almost two years “in the red”.

But say you finance that widget maker over 3 years, with a payment of 1400 a month… you are going to profit $600 a month until the widget maker is paid off (then you profit the entire 2k a month). You “broke even” right away, and were well in the black the entire time.  And we haven’t even talked about Section 179 yet.

I see this all the time. The numbers will always work in your favor. Even if your new revenue isn’t quite as much as your payment, it’s still better for your bottom line to finance equipment.

There is no bad time to use equipment financing. Like all the cool kids say: “it’s all good”.

Anyway, that recurring theme I mention is TIME. Plain and simple, time is also an advantage when you use an equipment financing company. Mainly because we won’t waste your time.

In plain terms, here’s how an equipment financing company works: You come to our website, and fill out a quick application form. It literally will take you two minutes. Off of this form, we can give you an answer. If it’s “yes” (which it usually is), there’s another form or two (loan agreements, etc.), but again, it’s all very easy, and you can do it right from the comfort of your home. You need not dig out the last three year’s tax returns from the filing cabinet (or last decade’s, which means you have to go in the attic…. ugh). You also don’t have to come to our office (like you would your local bank), and then wait for Loan Officer Barbara, who is on break (again).

So basically, what I am saying is an equipment financing loan is something you can wrap up without ever leaving your house, and generally within a matter of hours (or at worst a day or two). This “time factor” is a big deal for a lot of companies – if they have good credit, they know they can get financing really fast, so there’s no need to prepare for a long finance period. You can take your time deciding on the correct equipment (which is where the time should be spent), because you know that your equipment lease can be had in a snap.

The perception that time moves fast is just a simple question of ratios. See, when you’re a little kid (say perhaps 10 years old); a year is ten percent of your entire LIFE. And if you think about it, it’s really twenty percent of what you actually remember (assuming real memories start at five.) That’s why your two month summer vacation lasts FOREVER (and ever). And if you have something cool planned in two weeks… well, those two weeks are a HUGE block of time, because you just haven’t experienced all that many weeks yet. My 6 year old self waited YEARS for Christmas to come. So it seemed, anyway.

But now I’m all grown up. I’ve been through (ahem) 30 (ok, 40) – something years. So a week (or a month) is no big thing. Mere minutes, if you will. If you aren’t paying attention, it’ll be December before you know it (to which a 6 year old Fletch would be very grateful).

So I’m writing these thoughts in this post because it’s not only interesting to me, it’s also a nice segue to tell you to that Section 179 needs to be at least thought about right now. No, time hasn’t run out yet – we still have months, which, if you follow what I said above, is a few days at best. So if you’ve been thinking about financing (or leasing) equipment, now is the time to at least start making plans. Get something down on paper, make some phone calls, have a meeting. And take advantage of Section 179 for 2011.

Before time runs out! (groan…)