Building Strong Vendor and Broker Relationships in Equipment FinancingAt NewLane Finance, we understand that strong relationships are the foundation of successful equipment financing. Our partnerships with vendors and brokers allow us to provide seamless, efficient, and tailored financing solutions to businesses of all sizes. By fostering trust and collaboration, we ensure that businesses can acquire the equipment they need while vendors and brokers can close more deals with confidence.The Value of Vendor PartnershipsVendors play a crucial role in the equipment financing ecosystem. By partnering with us, equipment vendors can offer their customers flexible financing options, making it easier for businesses to afford essential machinery and technology. Our vendor financing programs help increase sales, improve cash flow, and enhance customer satisfaction by removing the upfront cost barrier.Benefits for Vendors:<ul><li>Faster Sales Cycles: Offering financing at the point of sale speeds up purchasing decisions.</li><li>Higher Deal Closing Rates: Businesses are more likely to buy when they have affordable payment plans.</li><li>Customer Retention: Providing financing options strengthens long-term relationships with buyers.</li><li>Streamlined Process: Our efficient approval process ensures vendors get paid quickly, reducing financial risk.</li></ul>Empowering Brokers with Competitive Financing SolutionsBrokers serve as a bridge between businesses and lenders, ensuring that companies get the right financing solutions for their needs. At NewLane Finance, we collaborate with brokers by providing access to competitive financing programs, fast approvals, and dedicated support to help them serve their clients effectively.Benefits for Brokers:Access to a Wide Range of Financing Solutions: We offer customized plans to fit various industries and business sizes.<ul><li>Quick and Simple Approval Process: Our efficient systems help brokers secure financing for their clients with minimal hassle.</li><li>Dedicated Support: Our team is committed to helping brokers succeed by providing personalized assistance and resources.</li><li>Stronger Client Relationships: By working with us, brokers can offer more value to their clients and build lasting relationships.</li></ul>How We Help Small Businesses SucceedSmall businesses often face challenges when it comes to securing equipment financing. Limited credit history, cash flow concerns, and high upfront costs can hinder growth. At NewLane Finance, we specialize in working with small businesses to provide flexible financing solutions tailored to their unique needs.Our Commitment to Small Businesses:Flexible Financing Options: We offer lease and loan programs that accommodate various budgets and business models.<ul><li>Fast and Simple Application Process: Our streamlined application process allows small businesses to get the equipment they need quickly.</li><li>Approval for a Wide Range of Credit Profiles: We work with businesses of all credit backgrounds to find the best financing solution.</li><li>Personalized Support: Our team takes the time to understand each business’s needs and provides expert guidance every step of the way.</li></ul>At NewLane Finance, we are committed to strengthening relationships with vendors, brokers, and small businesses. By providing innovative financing solutions and exceptional service, we help businesses grow and succeed. Contact us today to learn how we can support your equipment financing needs!

Learn how NewLane Finance helps vendors close deals, empowers brokers, and supports small businesses with flexible equipment financing.

Building Stronger Vendor and Broker Relationships in Equipment Financing

Today’s economy is creating challenges for many small businesses. Many things seem to be changing quickly. But one important thing has not changed: Section 179 of the IRS Tax Code. When small businesses use financing to purchase certain categories of equipment or software, they can take advantage of a powerful tax write-off.Considering this option during the last quarter of the year is especially important because the deduction applies to the current tax year only. Businesses that expect to make qualifying purchases soon can use that timing to their advantage. In short, this tax benefit allows 100% of the equipment’s purchase cost to be depreciated in the year acquired against that year’s business profits. The equipment can be either new or used to qualify for the Section 179 tax benefit.What is Section 179?Section 179 allows a business to deduct a value of up to $1,220,000 of qualified equipment acquired and put in use during 2024. In addition, a bonus depreciation of 60% may apply to the $3,050,000 spending cap.How We Help Small Businesses SucceedA sole proprietor, partnership, or corporation can fully expense qualified tangible property the year it is purchased and put in use if the qualifying assets are used for business purposes more than 50% of the time.Qualifying items include:<ul><li>“Off-the-Shelf” software (i.e., software that is not custom-developed and is available to the general public)</li><li>Equipment purchased for business use</li><li>Computers</li><li>Office furniture or equipment</li><li>Most work vehicles that cannot be used as a personal vehicle (forklifts, trailers, etc.)</li></ul>Why Does It Matter in Q4?Section 179 allows small businesses to deduct the total purchase price of equipment or software before paying off any equipment financing. Having the equipment immediately means they can start earning a profit or growing their business while keeping their working capital healthy.But doing it at the end of a tax year can help make the most of Section 179 benefits. The deduction lowers the ultimate cost of the item. If a business is in a 24% tax bracket, it is almost like getting a 24% discount. That benefit frees up cash for future business needs, especially wise for uncertain times.What Are Some Other Benefits?Businesses purchasing with Capital Leases or Equipment Finance Agreements may still qualify as long as they receive the equipment on-site and put it in use in 2024. If financing terms include deferred payments, it might even mean starting to use the new equipment with no or very low cost for the rest of this year. In addition, if interest rates rise or inflation continues to be significant, a purchase now can help protect against the financial impact by locking in current rates and pricing.How to QualifyQualified amounts may vary. We recommend consulting with your tax advisor or accountant before making any Section 179 decisions. Please note, this article if for informational purposes only. WSFS and NewLane do not warrant that your company will qualify for an IRS 179 deductible.

When small businesses use financing to purchase certain categories of equipment or software, they can take advantage of a powerful tax write-off.

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