Paycheck Protection Program

Paycheck Protection Program

Kingswood can help you get 2.5x your monthly payroll (up to $10M) as a forgivable loan through our funding partners. Funds are limited so apply today.

What is the Paycheck Protection Program?

The Paycheck Protection Program is a specific type of federally guaranteed loan intended to keep America’s businesses going during the temporary turmoil of the global pandemic. The SBA will empower businesses to borrow money based on the average cost of their monthly payroll. The money can be used for payroll costs, employee benefits, insurance premiums, mortgage interest, rent, utilities and more.
Red umbrella in storm

Paycheck Protection Program Highlights

The PPP can be 100% forgivable

Get 2.5x monthly payroll (10wks), up to $10MM

Use it for payroll & other bills like rent & utilities

Businesses of 500 or fewer staff are eligible

No personal guarantee or collateral needed

How Does the Paycheck Protection Program Work?

STEP 1

APPLY

STEP 2

APPLICATION PROCESSES

  • Your application will be reviewed to determine the maximum amount you are eligible to receive
  • Our goal is to arrive at a decision ASAP, but due to the high volume of applications, expect longer than normal processing times
  • Note: Kingswood can only approve amounts up to $10 million

STEP 3

FUNDS DISBURSED

  • We will reach out to let you know what amount you have been approved for and next steps
  • After closing, you can expect to receive your funds within 10 days
  • Submit your ACH banking information to have the funds deposited directly into your account

Who is Eligible?

  • Business must have been in operation as of February 15th, 2020.
  • Businesses must have paid salaries and payroll taxes or paid independent contractors.
  • Sole-proprietors, independent contractors, and other self-employed individuals are eligible.
  • Businesses with no more than 500 employees.
  • 501(c)(3) nonprofit, a 501(c)(19) veteran’s organization, or Tribal business described in section 31(b)(2)(C) of the Small Business Act with 500 or fewer employees are also eligible.
  • The program waives affiliation rules for businesses in the hospitality and restaurant industries, franchises that are approved on the SBA’s Franchise Directory, and small businesses that receive financing through Small Business Investment Company (SBIC).

Information for Kingswood Equipment Sellers and Referrers Regarding COVID-19

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.

Where can we find the latest information?

Kingswood will update our website, KingswoodLeasing.com, your Partner Portals and will be sending out informational emails if there are changes you need to know. You should always be able to reach your account manager and you can email us at Sales@KingswoodLeasing.com or Info@KingswoodLeasing.com.

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:

ACH Direct Deposit Enrollment Form: Click Here

Will COVID-19 change who gets approved?

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!

Dover Children’s Home 11th Annual Golf Tournament

Kingswood Hits The Links For Local Charity

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!!!

We will be there!!!

We Make It Simple

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.

Electronic 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 Offers End-to-End eCommerce Solutions

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.

Buy Now & Pay Later

Buy Now, Pay Later!

No Monthly Payments for 90 Days

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.

How Do I Qualify?

Just ask. Call us, email us, or says so when filling out our online application:

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!

Apply Now

No Payments for 90 Days

Give Your Customers The Power To Do More

Qualified buyers can buy the equipment they want now, and make no monthly payments for 90 days.

“Buy Now & Pay Later”

Program Highlights

  • 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.

Program Benefits

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!

Small Business Loan Line of Credit

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!

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. If you have any questions about our Finance Calculator, the Tax Savings estimator, or IRS Section 179, please do not hesitate to contact us.