Equipment Finance Insights
Section 179 Explained
2023 Updates: $1,160,000 deduction limit and $2,890,000 equipment purchase limits. Once this amount is reached, businesses can take bonus depreciation (80%) for equipment placed into service from Jan. 1, 2023 – Dec. 31, 2023. Section 179 is a valuable tax benefit and one every business should know about. Accept an immediate tax break on […]
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FWEF Partners with Toro and ARA Foundations to benefit Fort Snelling State Park
On September 14th and 15th, First Western Equipment Finance, alongside our First Western Bank & Trust colleagues participated in a project to improve historic Fort Snelling State Park in St. Paul, MN. The Toro Company Foundation in partnership with The ARA Foundation hosted the event where volunteers installed a nature play area, moved dirt deposited […]
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Time to buy new equipment? Business owners can be eligible for a tax break under Section 179
As 2021 comes to a close, this is a great time to take one last look at your upcoming equipment needs and decide if now is the time for an upgrade or expansion. That’s because the enhancements to the existing Section 179 deduction, passed under the Tax Cuts and Jobs Act of 2017, provide more […]
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First Western Equipment Finance Partners with Local Animal Rescue
First Western Equipment Finance has long supported Second Hand Hounds, a local non-profit animal rescue here in Minnesota. On November 14th as part of Give to the Max Day, we have contributed to Second Hand Hounds’ great mission of making an impact on the lives of animals in our community. Thanks to Give MN’s Give […]
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Does Your Finance Agreement Fit the Needs of your Rental Business?
There’s a lot to love about being in the equipment rental business. But setting up a new equipment finance agreement to update your inventory is not one of those things. In fact, the thought of that next contract may give you a queasy feeling. Maybe it’s because when you approach the typical lender for financing […]
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Acquiring new snow-removal equipment? Here are some things you should know before you sign
Snow removal services can help landscaping companies and other warm-weather businesses maintain cash flow during the non-growing season. In this blog, we’ll talk about some of the financial considerations of adding or expanding a snow-removal component to your business. In the next section, we’ll discuss the pros and cons of financing or leasing snow removal […]
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A look at Forecasts and Trends for the 2019 Construction Industry
With the end of the year approaching, it’s decision time. Plans and operating budgets are in the final stages, and you may be considering how equipment financing fits into your 2019 budget. To serve as a guide in these final decisions, here are some economic forecasts for 2019 and what they mean for the construction […]
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10 Tips on how to Use Finance to Close More Sales
Many sales are lost when the equipment sales rep does not offer financing and leaves it up to the customer to figure out a way to pay for the equipment. If their bank says no or they are not aware that you offer a solution that is not only competitive, but tailored to the equipment, […]
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Online Payments for Customers
First Western Equipment Finance to Offer Online Payments Solution for B2B Loan Customers EDEN PRAIRIE, Minn. – First Western Equipment Finance, a division of First Western Bank & Trust announced today the launch of a free online payments feature for its equipment finance customers. “Agile Payments consulted with First Western Equipment Finance project management to […]
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Construction Industry Outlook: 2018
In considering construction industry trends, many managers and business owners wonder whether growth will remain steady enough for them to justify purchasing new equipment. During a two-day conference held on November, 1 and 2 of 2017, economists, contractors, engineers, manufacturers and architects met in Chicago at the 79th Dodge Construction Outlook Executive Conference. One of the […]
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