Information for Kingswood Equipment Sellers and Referrers Regarding COVID-19
Is Kingswood open?
Kingswood’s offices are open (8am-8pm EST). All services are functioning as usual, however we are transitioning to a “work–at–home” operating model as part of our broader business continuity plans. Because the situation is dynamic, we will be adapting our plans each day while also planning for longer term implications.
What happens if Kingswood’s offices close?
We have the ability to work remotely from locations across the country, such that our day–to–day operations won’t be affected.
How is Kingswood settling with Sellers and Referrers?
We are settling transactions the way we always do; however, in the event our office closes there may be a delay in receiving physical checks from us due to closures or postal service delays. To avoid any interruption, we strongly recommend that you sign up for ACH disbursement. The form can be filled out and submitted online by clicking the link below:
No, but all leasing and lending companies consistently reassess certain underwriting policies and practices to fully consider the current business and economic environment. It’s likely that some changes will be made for some industries. If we see changes, these will be promptly communicated.
Remember everyone at Kingswood is here to help you and your customers succeed. Let us know how we can help!
Kingswood has a tradition of getting involved with our community, and specifically with the University of New Hampshire in Durham NH, whose campus is minutes away from our headquarters. Recently, we had the honor of sponsoring The UNH Women in Business Conference at the Peter T. Paul College of Business and Economics. Attendees included a vast array of students, alumni, and leaders in the business industry. The W.I.B Conference offered networking opportunities and business lectures that covered subjects such as Branding and Financial advice.
Participants were able to meet the lecturers after each presentation in order to gain insight, ask questions, and exchange ideas comfortably with business leaders and students alike. As a result, the Kingswood employees who attended the event came back with inspired ideas for marketing, business, and their personal lives as well.
We look forward to being a part of future community events.
The entire staff of Kingswood Leasing was proud to support our 7th 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.
“After another incredible year at Dover Children’s Home 11th Annual Golf Tournament, we want to say a HUGE thank you for helping us reach our goal of almost $25,000 raised during the event!!!!! It was an absolutely beautiful day, lots of fun had, delicious food and great company!
We are so very grateful for your support, by golfing in the tournament, buying raffle tickets and bidding on our silent-auction items! We would never have been able to reach our goal without you all!” – Renee Touhey-Childress, Executive Director, Dover Children’s Home
Hope to see you all at the 12th Annual Dover Children’s Home Golf Tournament in July 2019!!!
Here Are Some Of The Ways We Make Equipment Financing Easy…
Paperwork, Schmaperwork – App Only up to $250K!
Kingswood now has application only funding limits up to $250,000. That means less time and paperwork needed to get you the financing you want to make that next big equipment purchase. And typically these credit decisions are made within 2-4 business hours.
Minimum Ownership Requirements – Corp Only Options
Kingswood has options to secure businesses with established credit without a personal guarantor, an option called Corp Only. And for businesses without the established credit, Kingswood has options to secure financing with a minimum of 1% ownership. Either way, that means less time getting every owner’s signature to apply or to sign for financial documents.
When it comes to closing the deal for your equipment, almost no one wants to wait for paper documents in the mail any more. With eDocs financial documents can be sent instantly to your email address for signing.
Kingswood Leasing Announces Suite Of Digital Tools
Kingswood Leasing now has the ability to offer access to equipment financing through eCommerce shopping solutions, such as previewing payment options instantly, applying for approval, and signing financial documents – all online.
Together these eCommerce solutions provide a complete end-to-end online experience for this digital age.
Shoppers can view estimated monthly payment options while browsing items with our Finance Button
Buyers can select from a full set of monthly payment options online with our Quoting Calculator
Buyers can select an option and proceed to secure their financing with our online Finance Application
Financial documents can be sent electronically and signed digitally with out having to print and return by mail.
As a seller, this means getting funded on your sales faster, while providing your customers the experience they want.
Want to learn more? Contact Us or call 888-327-8121.
The popular 90 Day Deferred Program is back! That means you can buy the equipment you want now and let it earn you money for 90 days before making your first monthly payment. Save your hard earned cash and still get the equipment you need!
How Does This Work?
Qualified buyers may now choose a 90 Day Deferred Payment Program. Qualified buyers that proceed with the 90 Day Deferred Payment Program have their first monthly payment due 90 days from the date of the funded transaction. For example, if a deal is funded December 15th, the first payment will be due by March 15th. This option is only available to qualified buyers purchasing eligible equipment.
We simply need to know that you are interested in this program in order to qualify you for this option.
What Are You Waiting For?
It’s that easy. Get the equipment you want without having to make a payment for 90 days. Put the equipment to work right away and let the equipment pay for itself. Get pre-approved today and go shopping!
The first payment will be due 90 days from the date of funding. For example, if a deal funds on December 15, the first payment will be due March 15th.
Certain restrictions apply, including, but not limited to: Startup restaurants, startup salons, ATM equipment, security monitoring agreements are not eligible.
Commercial customers only. Qualified businesses must have at least 2 years time in business to qualify.
The benefits for your customers are obvious. They can get the equipment they want now and use that equipment to earn money for 90 days before the first monthly payment is due. Tell your customers to keep their hard earned cash and let the new equipment earn they money to pay for itself!
This program is also very popular with equipment suppliers who can leverage this limited-time offer to help earn more business. Tell any customer that shows interest in the option that there is no cost or obligation to get approved.
How can I get my clients Approved for No Payments for 90 Days?
You and your customers can apply like normal. We simply need to know that your customer is interested in this option. If there is mention of No Payments for 90 Days on an application we will immediately begin qualifying for this program.
Don’t wait until it’s too late – Tell all your customers about this option and share our secure application to find out if they qualify. It’s that simple!
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.