JB&B Capital is a commercial lender providing equipment financing for businesses.
When starting your construction business, you probably didn’t have all the equipment you really needed. It’s more than just buying hammers and screwdrivers; your construction company needs heavy equipment.
In most cases, you will need financing for heavy construction equipment, such as bulldozers, drills, and excavators; commercial lending is the best way to finance the equipment that you need, now. Commercial lenders understand your needs as a large or small construction company.
Heavy Equipment Financing Can Help Supply Your Business Needs
Your construction company uses heavy equipment almost every day. It’s an essential part of your job and business. However, heavy equipment is expensive. Whether you’re starting out and need everything or want to replace old equipment, it’s going to put a dent in your cash reserves.
Construction equipment financing is the way to get the items you need now while protecting your cushion, and you can find favorable interest terms and pay over time.
Get Your Documents Ready to Apply
When you know you need heavy equipment financing and you’re ready to take the next step, there are often many documents and information you’ll need to have ready to include with the application. Alternatively, JB & B Capital offers approvals for up to $300,000 with just an application – no need for a stack of documents and records – so you and your team can easily and quickly get the funds you need without needing to dig through filing cabinets.
Benefits of Financing Construction Equipment
You’ll find that there are many advantages when you opt to finance your construction equipment from a commercial lending company, including:
Customization
It’s great to work with a commercial lender; in most cases, you’ll work directly with a loan officer who will help you choose a loan that gives you the money you need while staying within your budget. Your loan officer can find and offer flexibility and rates that you can afford.
Pricing
As a business owner, one of your biggest concerns when buying and financing heavy equipment is getting the best pricing possible. This is a combination of the best interest rates and the amount of the monthly payments.
A commercial lender works with you to determine the best financing options for your needs and budget. You’ll find it easier to get monthly payments you can afford when working directly with the lender.
Variety
Whether you need heavy equipment or smaller construction equipment, a commercial lender can help you find financing. It might be a loan to buy the equipment outright or a lease option that works best for your company’s unique situation.
What Are the Tax Benefits of Financing Construction Equipment?
When you finance your construction equipment, you’ll get to enjoy several tax benefits, such as incentives for:
Depreciation
Each year, you can depreciate the value of your equipment and deduct that amount from your taxable income.
Interest Deduction
If you don’t use Section 179, you can deduct the interest or lease payments as a business expense each year that you’re making payments.
Section 179
Section 179 of the U.S. tax codes says that a business can deduct up to $1 million per year for equipment that they financed or leased. However, if you use this option, you can’t deduct depreciation or interest in subsequent years.
How to Get Financing for Heavy Construction Equipment
At JB&B Capital, we’re ready to work with you to get you the financing option that works best for your small business, with quick turnaround time, flexible structures, real people to help you instead of machines, and now serving all 50 states – visit our contact page or email sales@jbbcapital.com today to learn more!
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