SB Informer
Friday, December 15, 2006; 06:00 AM
Costa Mesa, CA - Thousands of
agricultural specialists have discovered the financially smart way to
provide for their farms, ranches and other agricultural facilities by
leasing agricultural equipment instead of buying. When farmers and
ranchers purchase equipment, in order to insure prime results, they
tend to buy top of the line equipment. But there is a problem in this
process, with the rapid advancement in technology, no one professional
or specialist can ever own all the most up to date technology.
The agricultural industry requires the use of numerous and wide varying
equipment. Today’s advancements are tomorrow’s grandfather
technologies. So how does a business or specialist assure they have a
fast turn-over rate when it comes to equipment? The answer is clear:
equipment leasing. Equipment leasing allows specialists and companies
to lease equipment without the subconscious thought that they are now
stuck with a certain product. Leasing gives the lessee the flexibility
to upgrade, add-on, or trade in old equipment.
According to the U.S. Small Business Administration, eight out of 10
American companies lease all or some of their productivity equipment.
Opting to lease agricultural equipment reduces the cost for equipment
maintenance, installation and equipment training, because most leasing
companies provide the leasor with both. Some leasing companies also
provide programs that allow you to return, buy at a discount, or even
upgrade your equipment at the end of your lease. Tax breaks are also
available when professionals decide to lease. Leasing allows companies
to see dollar for dollar write off on leasing payments, which has a
higher profitability when compared to owning equipment. When equipment
is devalued due to new technology, along with wear and tear, a loan
borrower bears all the risk. Since a lessee has no obligations to own
equipment at the end of a lease, all risk of obsolescence is
transferred to the leasors.
So that leaves the question: Once you have decided to lease instead of
buy, how are you going to attain funding for the lease? Using
iBank.com’s Finance Center, companies and professionals can apply and
within minutes be connected to eager lenders. iBank.com’s advanced
filtering system allows medical professionals to apply for different
types of leases that are targeted to fit their needs.
“The agricultural industry depends on machines and technology and they
need to keep their options open when it comes to equipment and leasing
is a win-win decision.” said Tom Markel CEO of iBank.com “iBank.com
wants to make sure that agricultural specialists don’t get stuck with
obsolete machinery simply because they cannot find funding.”
There is also a high benefit for equipment manufacturers, distributors,
vendors and value-added resellers that use iBank.com’s Finance Center.
The Finance Center's application process helps stimulate sales by
providing equipment financing for their products. In offering their
customers a total equipment acquisition solution, vendors are able to
differentiate themselves from their competition, increase sales, reduce
outstanding receivables, and decrease the sales cycle by eliminating
the need for the customer to search for additional financing.
“The timely leads supplied by iBank.com, has led to a big increase in
our potential client base in equipment leasing,” said Kreg Pierce of
Westland Capital.
Equipment leasing is a clear, smart choice for the agricultural
industry. The leasing industry is a major source of funds for capital
investment. In 1998, more than $207 billion worth of equipment was
leased nationwide, this trend is increasing. Leasing has gained in
popularity due to key factors that differentiate a lease from a loan.
Every year a growing number of companies choose to procure new
productive equipment through leases rather than loans.
About iBank.com
iBank.com is an online small business lending network that provides
small businesses with solutions to meet their financial needs.
iBank.com’s Finance Center enables businesses to create targeted loan
packages and store all business related material in a secured online
vault accessible to them worldwide. Examples of business information
stored in the Vault include, business plans, management overviews,
financial statement, tax returns and credit reports. Then when the user
wants to fill out an application, the information is automatically
populated by the information already in the database directly into the
application. This process reduces paper, faxing and postage charges,
speeds up the process and eliminates the hassles of looking for
financing.
Other News by This Company Another Innovation from iBank.com That Makes Investors More Accessible to their Target Audience - January 4, 2007 Hundreds of Untapped Investor Leads Found at iBank.com - January 3, 2007 Companies Vary In Their Donation Preferences This Holiday Season - December 14, 2006 |