IT and Tech Equipment Financing
Providing the best advice and solutions for small and medium-sized businesses looking for new or used IT and tech equipment financing.
IT and Tech Equipment Financing
Charter Capital has been in the business of equipment financing for over 40 years. During that time, we’ve worked with thousands of clients in need of IT and tech equipment financing to match them with the best funding source.
To grow your company, you need up-to-date technology and IT equipment. We can help. With over 20 lenders in our network, we can guarantee we’ll find you competitive financing options to help you get funding for the IT and tech equipment that you need.
Here are just some of the areas and types of equipment that we can help you finance:
- Desktop computers
- Networking equipment
- Power supply
- Storage devices
- VoIP phone systems
Some of our customers...
- Are interested in the lowest rate.
- Are interested in a specific tax treatment.
- Want to avoid breaching existing lending covenants.
- Are interested in the longest term.
- Are interested in getting reimbursed for equipment they have already paid for.
- Want seasonal or other cyclical structures.
- Want to finance software.
- Want to us to give the seller a deposit before the equipment is shipped.
All of our customers want a fair deal at a fair price and no surprises.
Finance It Equipment And Bolster Your Bottom Line
A 2019 survey of businesses across the country found that 43% of small businesses applied for some form of external funding. The ability to secure financing can boost a business and help it remain competitive.
A beneficial tool to utilize when financing IT equipment is the Section 179 tax deduction. Here is how it works:
- You obtain financing for IT equipment and purchase the software or machines that you need.
- In the same year of the purchase, you claim a 100% tax deduction under Section 179. This allows you to deduct the full amount of the equipment without paying the complete amount in the same year.
- As a result, you save money on your taxes and leverage that savings to grow your business for the next year.
According to the official Section 179 qualified financing guidelines,
“The amount you save in taxes can actually exceed the payments, making this a very bottom-line friendly deduction (you are reading this correctly; in many cases, the tax savings from the deduction will make your bank account larger than if you never financed the equipment in the first place.)”
Section 179 is ideal for small and medium-sized businesses. There are limitations to this deduction, including a $2.5 million cap on the total amount of equipment the company can purchase in the year. The IRS regularly updates guidelines for Section 179 to provide clarity on this useful tool.
To learn more about financing options that qualify for the Section 179 deduction, chat with the financing experts at Charter Capital.
IT Equipment Financing With Bad Credit
Bad credit can constrain your tech and IT equipment financing options, making it difficult to move forward with advanced technology. The search for IT equipment financing with bad credit requires you to be alert for potential predatory lending techniques. Here are three red flags to look out for:
- The lender requires upfront fees disguised as application fees or document processing fees. Here is a breakdown of real lending fees and what they mean.
- There is pressure to move forward quickly and sign binding agreements as soon as possible. A good lender will provide you with options and guide you through the pros and cons of each. If you feel rushed, walk away.
- Promises of guaranteed approval, no matter your credit score or financial situation. Most lenders examine your credit score to assess how much of a risk lending to you would be. A wide-sweeping guarantee is a hint that the lender is not transparent with you.
Being informed and alert is crucial to securing financing, especially if you have bad credit. Here are eight questions to ask an equipment financing company before working with them.
Consider Financing Alternatives
If it’s possible to postpone the purchase of new equipment, it may be wise to do so while building your credit. In the meantime, there are creative ways to secure financing that may be of use to you.
From partnerships with other businesses to investor platforms like Fundable, an array of financing options are available. Think outside of the box to uncover ways of obtaining the necessary funds. Read our 13 financing options article to learn more about these opportunities.
Browse A Range Of It And Tech Financing Options
When it comes to financing IT equipment, you have plenty of options with Charter Capital. Success for YOU means success for US. Our goal is to share our IT equipment financing capabilities with you.
We want to build a relationship with you and your company. We’re not going to disappear when a deal closes. Instead, it paves the way for a partnership built on trust and reliability. As a family-run business, we treat you like a cousin.
Ready to experience the Charter difference? We’re here to assist in any way possible. Contact us today, and we’d be happy to share all the available options.