Is leasing good for my restaurant?
How do you know if equipment leasing is right for your restaurant business?
Copley Funding is here to help with that decision. There are many benefits to using restaurant equipment leasing over other forms of financing or paying for the equipment upfront. Let's look at some of the benefits of leasing vs. restaurant equipment loans.
Applying for leasing is easy - most restaurant equipment invoices under $150,000 require a simple 1 page application. Many banks will require complicated paper work.
Being approved is quick - often within 24 hours versus days, weeks, or months with many banks.
Tax benefits may be possible with restaurant equipment leasing. That is because an operating lease may often be written off striclty as a rental expense allowing restaurant owners the opportunity to leave the asset off of their balance sheet. Tax advantages under Section 179 of the IRS tax code are subject to change; Restaurant owners should consult a tax professional to learn more.
Preserving Capital - Restaurant equipment leasing benefits you by allowing you to hold on to the capital you have for other expansion plans, to pay salaries, or to get through the slower seasons. It makes sense to utilize capital from lenders to "build in" your expenses directly to your Profit/loss statement. Restaurant equipment leasing allows you to use other people's money to create your own revenue to grow your business.
Look into what Copley has to offer, when you are ready you can apply here.