Year: 2017

Small Business Loan Line of Credit

| Zeb Wright

Ask us for a Line of Credit. And get all the benefits that come with it:

  • $3,000 – $1,000,000 of working capital
  • Accessible for you to draw upon as needed
  • You pay nothing until you withdraw funds, and only on the funds you draw
  • Use your capital in any way you see fit to grow your business

A Line of Credit can be made available to you in as little as 5 business days, with minimal paperwork required.

It gives you easy access to working capital. And the security of never having to worry about cash flow.

Get No Obligation, Pre-Approved Terms – Apply Now

Capitalize On Your Tax Benefits Before Time Runs Out!

| Zeb Wright

Maximize Your Section 179 Tax Savings Every Year!

What Is Section 179?

Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. It’s an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves. Section 179 is one of the few incentives included in any of the recent Stimulus Bills that actually helps small businesses. Although large businesses benefit from Section 179, the original target of this legislation was much needed tax relief for small businesses – and millions of small businesses are actually taking action and getting real benefits.

How Does Section 179 Work?

When your business buys certain items of equipment, it typically gets to write them off a little at a time through depreciation. In other words, if your company spends $50,000 on a machine, it gets to write off (say) $10,000 a year for five years (these numbers are only meant to give you an example). Now, while it’s true that this is better than no write off at all, most business owners would really prefer to write off the entire equipment purchase price for the year they buy it. In fact, if a business could write off the entire amount, they might add more equipment this year instead of waiting over the next few years. That’s the whole purpose behind Section 179 – to motivate the American economy (and your business) to move in a positive direction. For most small businesses the entire cost can be written-off on that year’s tax return.

Limits of Section 179

Section 179 does come with limits – there are caps to the total amount written off, and limits to the total amount of the equipment purchased. See our “IMPORTANT NOTICE: Section 179 Expanded” post for details on limits for a given tax year.

How Can I See How Much Money I Can Save?

Included on our Finance Calculators is a “Section 179 Tax Savings” feature to show you an estimate of how much you can save with this benefit. Simply put an amount in the calculator, and hit the calculate button to see Potential Tax Savings. By default, a 21% tax bracket is assumed for calculation purposes.

Business Is All About The Bottom Line!

When considering equipment for your business the decision almost always depends upon the bottom line. For your convenience, our finance calculators automatically print the total Bottom Line Equipment Cost After Tax Savings along with every quote.

Make sure you consult with your tax advisor to understand your eligibility and to discuss any specific questions you have about these tax benefits.

Business Tax Deduction Ends Soon

| Zeb Wright

Section 179 Qualification Ends December 31st

What Is Section 179?

Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. It’s an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves. Section 179 is one of the few incentives included in any of the recent Stimulus Bills that actually helps small businesses. Although large businesses benefit from Section 179, the original target of this legislation was much-needed tax relief for small businesses – and millions of small businesses are actually taking action and getting real benefits.

How Does Section 179 Work?

When your business buys certain items of equipment, it typically gets to write them off a little at a time through depreciation. In other words, if your company spends $50,000 on a machine, it gets to write off (say) $10,000 a year for five years (these numbers are only meant to give you an example). Now, while it’s true that this is better than no write off at all, most business owners would really prefer to write off the entire equipment purchase price for the year they buy it. In fact, if a business could write off the entire amount, they might add more equipment this year instead of waiting over the next few years. That’s the whole purpose behind Section 179 – to motivate the American economy (and your business) to move in a positive direction. For most small businesses the entire cost can be written-off on their tax return.

Limits of Section 179

Section 179 does come with limits – there are caps to the total amount written off, and limits to the total amount of the equipment purchased. See our “IMPORTANT NOTICE: Section 179 Expanded” post for details on limits for a given tax year.

How Can I See How Much Money I Can Save My Customers?

Included on our Finance Calculators is a “Section 179 Tax Savings” feature to show you or your customers how much they could save with this benefit. Simply put an amount in the calculator, and hit the “Section 179 Tax Savings” button to see Potential Tax Savings. By default, a 21% tax bracket is assumed for calculation purposes.

Show A Discount Every Time Without Ever Reducing The Price!

The Tax Savings Estimate is a great way to show a discount on a product without ever having to reduce the purchase price. For your convenience, our finance calculators automatically provide this estimate along with every quote. If you have any questions about how to provide this estimate along with a finance quote, please contact us for assistance.

Garrison City Beerworks

| Zeb Wright

Kingswood Comes Through For Local Brewery

“Less than 2 years into business and we needed to buy more equipment to grow. Kingswood Leasing came through with a deal that no one else could match. A year later we needed working capital to take advantage of a contract that otherwise would have hindered our cash flow. Now Kingswood has helped us get a small business loan and line of credit, which is enabling our next phase of growth at the brewery. Every time I have a financial need, Kingswood has come through.” – Mike Nadeau, Founder & CFO, Garrison City Beerworks

Garrison City Beerworks (GCB) entered the scene at the end of 2013 with the mission to become NH’s premier craft brewery. Fortunately for us, they took up residence just a couple blocks from our own primary office in Dover, NH. Founder Mike Nadeau didn’t need our help to get started, but after his initial investment to get going, he realized that much more would be needed to be as successful as he wanted to be. In 2015 Mike came to us to make a big investment in a canning system that would significantly increase the brewery’s ability to distribute the premium craft beer that they make. In addition to the canning system, Garrison City would need a lot of cans to take advantage of this new piece of equipment. The challenge for us was how to get this brewery that was less than 2 years old the full amount of money that they needed in order to accomplish the full order of equipment and cans.

The Equipment Loan

Garrison City qualified for the best start-up rates available in the marketplace, and had several options of how to finance the canning system. The ‘soft costs’ of the project, however, including the large inventory of cans, exceeded the normal 25% allowance of the transaction. In this case the shipping, installation, accessories and inventory was a whopping 55% of the total transaction we were attempting to finance. We could have separated the transactions, but that would have cost Garrison City Beerworks more in total. And we have great relationships with our banks, some of which we have been doing business with for 26 years. So we leveraged our experience and great relationships to earn an exception on this deal that would typically be unheard of. The bank would finance the full amount for our neighbors down the block. We made every attempt to do what was best for our client, and our funding source rewarded us and our client with everything they needed to get the job done.

Working Capital Loan

About a year later, Mike came to us looking for a line of credit. His primary need at the time was to secure a yearlong hops contract that would set up the next years’ worth of craft beer production. True business lines of credit have been harder to secure for businesses since the economic recession of 2008, and at that time Garrison City Beerworks did not have enough time in business to earn what was reserved for more established companies. But that didn’t mean that Garrison City didn’t have other options for working capital. Small business loans are one of the industry’s most popular products and any company with more than 6 months’ time in business can secure a short term unsecured business loan based on the strength of their monthly deposits. Fortunately for Garrison City, their monthly deposits exceeded the amount that they needed to secure the hops contract, and we secured for Mike a small business loan equal to what he needed. That loan helped smooth out GCB’s cash flow and set them up for sustained growth.

Term Loan & Line of Credit

Well into their third year in business and GCB is growing again. They have expanded their service and capacity and have sustained year over year growth every year in business. To take advantage of the opportunity before them, GCB needed the tools that other established businesses have at their disposal. We are so pleased to play our part in securing GCB a 5-year term loan and a true business line of credit, both of which were earned by Garrison City Beerworks for all their hard work and dedication. It truly is an honor to watch a business grow and succeed. And regarding Garrison City Beerworks, we can’t wait to watch what they do next!

Are you a Greater Dover Chamber of Commerce member?

Working with local businesses is an experience unlike any other, and we could not be more proud to serve Garrison City Beerworks. And as this experience with GCB shows, sometimes a hometown company can do things for you that no other company can. What could be better than that? How about a hometown discount?! From now on any Greater Dover Chamber of Commerce member will receive a discount on any contractual fees up to $250!

I am a Greater Dover Chamber of Commerce member! – I want a hometown discount!

Kingswood Disaster Relief Program

Red umbrella in storm
| Zeb Wright

Equipment Financing, Bridge Loans, & Business Lines of Credit to get Businesses Back on their Feet

Kingswood Leasing has been around for 26 years and over the years has been witness to natural disasters that have affected many of our partners and clients. Sympathetic to the pain and suffering that was caused by these events, Kingswood has always taken every opportunity to do more than normal to help these people get back on their feet. That experience over the years has evolved into an established commitment to these individuals:

“I am developing a Kingswood Disaster Relief Program that will support the rebuilding of businesses affected by natural disasters.” ~ Clifford Metcalfe Jr., Owner & President, Kingswood Leasing, Inc.

Program Highlights

  • Reduced Fees: We’ve negotiated with our banks to limit documentation fees to an absolute minimum to process paperwork.
  • Flexible Payment Options: Qualified buyers may choose from several popular payment options, such as No Payments Due At Signing or 90 Day Deferred Payments.
  • Giving Back: We will donate 1% of the total financed amount to the American Red Cross towards the relief effort of the applicant.

Experience Matters

Businesses that have closed down have much more difficulty obtaining financing had they not had the calamity in the first place, it’s a fact of finance life. A less experienced finance professional may not take the time or know how to present a business that has experienced a natural disaster. Getting back on your feet is too important to risk. We suggest that you partner with an experienced finance professional like ourselves who can leverage over 200 years of combined financial experience to get these afflicted business owners the best terms available for their situation. Many finance companies either run away from or try to take advantage of these business owners. This finance company is running towards those in danger, and bringing to bear every available resource we can to get these business owners back on track.

We Want To Do Our Part, Tell Us How We Can Help

If you are a business owner in need of capital following a natural disaster, or know someone who is, please see our page and application customized for this program. This application asks some additional questions about the status of the business that will be relevant for the purposes of securing capital. And please do not hesitate to contact us should you have questions. We want to do our part, tell us how we can help.

Dover Children’s Home 10th Annual Golf Tournament

| Zeb Wright

Kingswood Golfs For Favorite Charity

The entire staff of Kingswood Leasing was proud to support and attend our 6th consecutive Dover Children’s Home Golf Tournament. This charitable tournament is one of the largest events that the Dover Children’s Home puts on every year, generating much of the needed funding for their non-profit programs for children. Thousands of NH’s most vulnerable children have received exceptional care at DCH since 1893. Their personalized treatment allows the young people that they serve to gain self-confidence and experience significant improvement in their family relationships, decision-making skills, and school performance.

Fundraisers and donations of any kind translate into the program’s ability to provide exceptional care while attempting to provide a positive adolescent experience. DCH is committed to improving the lives of the young people placed in their care by offering a wide array of services, experiences, and opportunities that celebrate each child’s individual strengths and personal needs.

As one of only a few community-based residential treatment programs for children remaining in NH, it is more important than ever for Dover Children’s Home to provide a safe haven for young people to develop the skills they will need to become healthy, productive members of the community.

“To the Whole Team at Kingswood Leasing,
I cannot say enough Thank You’s to each and every one of you for your ongoing support of Dover Children’s Home! Thank you from the bottom of our hearts for all you have done and continue to do for us! Thank you for wrapping your arms so generously around us!
With much gratitude, Renee” – Renee Touhey-Childress, Executive Director, Dover Children’s Home

The staff of Kingswood Leasing had, yet again, a great time being a part of this event. Almost everyone either volunteered or played in the tournament, which was a lot of fun for everyone involved. We look forward to this event every year and we look forward to supporting the Dover Children’s Home for years to come.

What’s the difference between a Collection Account and Charged Off Account?

| Zeb Wright

What is the difference between a Collection Account and Charged Off Account?

The quick answer is that there is a huge difference between how each can affect your credit score. On your credit report accounts can be categorized as either a Revolving Account - "R", Installment Account - "I", or Other Account - "O". A collection account is neither a revolving or installment account, and is therefore categorized as an Other Account. The balances for "O" accounts does not impact your score, so whether you owe $0 or $10K your score will not change. The greatest impact "O" accounts have on your score is in regard to their Date of Last Activity (DLA). The newer the date the more it impacts your score, which is why paying off collection accounts will usually lower your scores as it will renew your DLA.

Charged Off Accounts are more likely to be reported as Revolving Accounts, and therefore will affect your score differently. For example, "R" accounts not only consider the DLA but also the Balance Due. That is why whenever you are maxed out on a credit card account it has a dramatic effect on your credit score. The dilemma in these situations is trying to decide what is best - will it affect my score more to have the maxed out account charged off or to settle the account for less than agreed only to have it renew the DLA?

In those cases, we suggest a FREE consultation from our friends at National Credit Care. If you are a business owner, you can't afford to have sub-par credit. You work hard for your money. Save more of it by getting your credit score up as high as possible.

Downloading Kingswood Finance Tools

| Zeb Wright

Quote & Convert Customers Using Your Smartphone

A lot of salespeople work out in the field or away from a desk. Being able to talk to a customer about finance options while they are considering your product offering is the best way to capture every potential sale. That is why our finance tools are easily accessible by any device that can connect to the internet. This includes Android and Apple smartphones.

Calculations Help Salespeople Convert More Sales

Quick and easy access to our finance calculator is the first thing a salesperson will want to secure. Our Kingswood Calculator enables any salesperson to quote finance options to their customers within seconds. Access to our Kingswood Calculator (or private calculators customized for your company) is easy when you download them to your smartphone by using the Add to Home Screen feature:

Both Apple and Android devices have this feature. Once added to your home screen, the calculator opens just like an app.

Converting Calculations into Applications

When a customer shows interest in the finance option as opposed to a cash purchase, the only other thing you will want to do to capture the sale is fill out an application for the sale. You can direct the customer to our Kingswood Application (or your private application customized for your company), or better yet, you can fill out the application for the client. Going over the simple, one page application with the client provides a superior experience and also ensures that the client takes mental ownership of the purchase they are about to execute with you. Downloading our application to your smartphone enables you to offer this experience to your clients whenever you have the opportunity. Use the same process shown above to download the finance application to your smartphone for quick and easy access.

Kingswood Welcomes Bob Janowski

| Zeb Wright

Bob Janowski Joins The Kingswood Team

Kingswood Leasing, Inc. is pleased to announce that Bob Janowski has been added to Kingswood Leasing’s Account Executive Team. Janowski will be responsible for growing opportunities among our vendor network and for securing capital transactions for their business owners.

“Bob has had a remarkable career in the equipment finance industry, securing routine and complex financial solutions for major clients in the printing and packaging industry. He understands the challenges businesses face in funding long-term investments that propels growth. Bob’s background in capital equipment finance makes him uniquely positioned to promote a company’s investment opportunity and find the financial solution that enables that success. I am excited to see Bob’s impact on our business and to our momentum within the Executive team.” – Cliff Metcalfe III, Chief Operating Officer

Janowski’s 40+ years of experience will serve him well as he fulfills the role of a Senior Account Executive. Senior Account Executives manage a book of business that includes small start-up businesses to large Fortune 500 companies, while maintaining superior sales results and above average client satisfaction. Every business is unique and presents singular challenges that only an experienced finance professional can recognize as opportunity and turn into positive ROI for that firm. Janowski has exceptional understanding of the needs of Kingswood Leasing’s clientele and we look forward to his future serving our clients.

More about Kingswood Leasing

Kingswood Leasing Inc., a nationwide full service finance company specializing in providing capital solutions to start-up businesses and the restaurant industry, has provided vendor finance programs for capital equipment transactions of all types and amounts since January 1991. Kingswood Leasing has helped to secure financing for thousands of organizations, from the largest corporations to individually owned businesses.

How Much Does Your Credit Score Really Cost You?

| Zeb Wright

What Is 1 Percentage Point Among Friends?

A while back our partners at National Credit Care sent us some shocking information. We know that someone with a relatively high credit score is more likely to receive the most aggressive terms compared to someone who has relatively average credit. We see this almost every day. What we don’t see is the potential savings over time that a client could earn with a little more focus and attention to their credit score. Lets go over some fun math!

Sample Scores & Rates from MyFico.com on a 30 year fixed mortgage loan for $250,000

760-850       3.447%

700-759       3.669%

680-699       3.846%

660-679       4.060%

640-659       4.490%

620-639       5.036%

The Difference Could Be Worth Half Of A Million Dollars or More!

In this example, the difference between what a person with a 639 score pays in interest versus what a person with a 700 score pays in interest is $78,000 for this one loan. That is a lot of money all by itself, but now consider all the other loans that one typically pays for in a lifetime; auto loans, credit cards, bank loans, etc. That could easily be a difference of over $100,000 because of the higher rates associated with those loans. If you have $178,000 to invest over 30 years, you could conservatively earn more than $325,000 with that money over that time period. Add that to the amount you paid in additional interest and a slightly lower credit score over 30 years has cost you at least half of a million dollars!

Isn’t It Worth Getting Your Credit Scores Up?

Don’t live with a low credit score. Contact us today and we will order you a free, no obligation, credit consultation call from the experts at National Credit Care. They will tell you exactly what they can do for you and your credit. And if you decide to enroll in one of their programs, Kingswood Leasing clients receive promotional pricing.

Request your free credit consultation today!