Grow Your Business with Our Equipment Financing Options
It’s almost impossible for business owners to grow their bottom line without the necessary equipment to do so. The team at Commonwealth Capital Solutions can help you procure the essential funds you need to secure the business-related equipment necessary for your expansion. We provide both Equipment Lease and Purchase options for commercial and municipal clients.
What Industries Do We Provide Equipment Financing To?
Solar/Energy Management, Construction, Manufacturing, Machinery, Mining, Oil & Gas, Trucking, Railroads, Farming, Logging, Marine, Office Equipment/Furniture, Medical/Dental, Dry Cleaners/Laundromats, Restaurants, Craft Breweries, Fitness, Computers/IT, Printing, Aircraft, HVAC, Waste Removal, Government/Municipal, Vending Machines and more.
Equipment Leasing Program Details
Commonwealth Capital Solutions is proud to offer our hard-working business owner clients a wide variety of leasing options. Each one is completely customizable to the individual needs of your company.
Tiered Pricing For A, B and C Credit Scores
Commonwealth Capital Solutions has tiered pricing for customers with different credit scores and time in business. Our minimum credit score requirement is 600+ and approval rates are higher for business with at least 2 years time in business. Our pricing on larger equipment requests ($200,000+) for established businesses with excellent credit is extremely competitive with rates as low as Prime + 1%.
Your Choice of Term and Buyout Options
You choose the term you would like on the equipment (12, 24, 36, 48 or 60 months) and purchase option at the end of the lease ($1 or 10% buyout). We recommend that customers looking to pay the least amount of interest choose the 12 month option, and customers seeking the lowest monthly payment choose the 60 month option. We also offer conventional equipment purchase financing through our Equipment Financing Agreement (EFA) product, which is particularly popular among solar customers at the moment because (unlike a lease) it allows the customer to claim any available tax credits and accelerated depreciation on the product.
Limited Paperwork and Fast Closing
Most equipment requests of $150,000 or less require only a one-page application, last 3 months of business bank statements (all pages), and an equipment quote from the vendor. After submitting those documents, credit decisions are typically reached within 24 hours and the equipment can be delivered as quickly as 1 week.
Tax Deductible Payments
More than 80% of U.S. businesses choose to lease their equipment instead of purchasing it outright because of the significant tax benefits of doing so. The interest on equipment leasing payments is usually 100% tax deductible (check with your accountant for more detail). In many cases, leasing makes the true cost of owning the equipment cheaper than the actual cost of the equipment. See the example below for more information.
Sale and Lease Back
Looking to tap the equity in the equipment that your business already owns free and clear? Commonwealth Capital Solutions can buy your equipment and lease it back to you.
Are you an equipment vendor or distributor interested in being able to offer a leasing or financing option to your commercial or municipal customers? We work with many vendors in this capacity and would be glad to work with your business to offer financing at reasonable terms to your customers. Moreover, we can offer 100% prefunding to certain vendors if the customer is agreeable to doing so.
Why Lease Equipment Through Commonwealth Capital Solutions?
Leasing large equipment has become a popular option for many expanding businesses. It’s a fast, convenient and affordable option that allows businesses to receive the necessary materials in order to grow. Our team can provide you with:
- Low, fixed monthly payments
- A way to free up your capital
- Preservation of existing lines of credit
- Significant tax and accounting advantages
- Access to the latest and greatest in technology and equipment without the up-front cost and long-term commitment of purchasing
Example: The “True Cost” of Equipment Leasing
Let’s assume a business needs a $75,000 piece of equipment. They apply for a 60-month lease and are approved. Based on their credit profile, their monthly payment comes to $1,556. Assuming a 35% tax bracket, the business is able to write off $544 of the monthly payment, making their net (after tax) monthly lease payment only $1,012. Multiply that by 60 months, and their “true cost” of ownership is only $60,720, a savings of over $14,000 on the equipment cost! And the business has the option to purchase the equipment at the end of the term for a nominal fee. That’s why equipment leasing makes so much sense for small businesses. Please consult with your tax advisor for more information.
Contact Us Today!
To get started on the convenient equipment leasing options from Commonwealth Capital Solutions, call us today at (804) 323-7437 or email email@example.com.