Leasing is almost always an option when it comes to procuring high value items like homes, cars, and furniture. Restaurant equipment is no exception. In conjunction with Kingswood Leasing, Instawares now offers restaurant equipment leasing. From single restaurants to new foodservice businesses to large chains seeking to install new equipment in multiple locations, Instawares has leasing programs to meet every restaurant equipment need.
Whether you are a large AAA credit company searching for competitive rates or a customer with “less than perfect credit” looking for second chance alternatives, Instawares and Kingswood Leasing can customize leasing options for most equipment purchases of $2,000 or more with terms between 12 and 60 months. All equipment leased through Instawares and Kingswood Leasing is lease to own, meaning that ownership of the equipment will be transferred to the business after the lease has been completed.
What are the benefits of leasing restaurant equipment?
There are five major benefits of leasing instead of buying:
- Faster and Easier Than Financing – Over the past few years, banks have imposed stricter credit requirements for anyone seeking to borrow money. Without large amounts of capital, small businesses often struggle to secure the financing they need to start and maintain their operations. Leasing provides a vehicle for these types of companies to quickly outfit their locations with the equipment they need. Unlike banks, which require lengthy applications that could take months to approve, Instawares offers a simple leasing credit application can be completed in a few minutes, along with approvals in 1 to 24 hours to help foodservice operators get equipment fast.
- Fixed Monthly Payments –Many small businesses cannot afford to deduct a major expense from a single month’s budget. Leasing provides a means to make a minimal investment and divide the remaining cost in equal increments throughout a 12 to 60 month period, conserving working capital to fund the operation and growth of the business.
- Preserves Current Lines of Credit – Leasing does not count against other current lines of credit such as credit cards, vendor programs for food supplies, and existing bank credit lines. This enables businesses to get the equipment they need while leaving these lines of credit open for routine or unexpected purchases.
- Builds Credit History – When businesses lease restaurant equipment from Instawares, they build credit history that will enable them to more easily obtain financing for future purchases. Instawares and Kingswood Leasing report payment history to various business credit services such as D&B, illustrating the company’s ability to pay and building the credit history that every company needs to survive.
- Tax Advantages – Under tax code section 179, businesses that spend less than $2,000,000 a year on qualified equipment can write off as much as $500,000 in 2012, as long as this amount does not exceed their taxable income. Businesses that lease equipment can take advantage of this deduction as well without using funds this year.
Deciding whether to lease or buy restaurant equipment is one of the biggest and most important decisions any foodservice operator should make. Instawares is here to help you make the best choice for your individual business’ needs. Our knowledgeable and helpful leasing professionals are available Monday through Friday from 9:00 a.m. to 5:00 p.m. EST. Contact them today for answers to all of your leasing questions.