Category: Equipment Finance
2018 Tax Benefits for Businesses
Whether you’re a small business owner or part of a large, multinational corporation, the revised 2018 tax benefits has likely become the center of many conversations and strategy sessions. Many of us know the big picture of how the new tax bill slashed corporate tax rates from 35 percent to 21 percent. This drastic cut […]
What does the interest rate increase mean for businesses financing?
What does the interest rate increase mean for businesses financing? It’s a good time to be in business. The economy is heating up, and with the corporate tax rate having been slashed from 35 percent to 21 percent, businesses of all sizes are set to enjoy some of the best economic conditions in decades. However, […]
Section 179 Depreciation Updates for 2018
Section 179 Depreciation Update due to New H.R.1 Law or The Tax Cuts and Jobs Act: On January 2, 2018, H.R.1 was signed into law and has revised several previous tax laws going forward. Section 179 depreciation is now $1,000,000 and the bonus depreciation is now 100 percent. Equipment purchase limits have been increased to […]
Equipment Finance 101: Types of Finance Agreements
There are many different types of equipment finance agreements available to the modern finance manager, executive or business owner. Learn the differences between them with our simple guide, below: EFA: An EFA, or equipment finance agreement, is a type of business loan where the customer takes ownership of the equipment upfront, and then pays the […]
Understanding Business Credit Processes: Terms & Credit Lingo
Understanding Business Credit Processes: Terms & Credit Lingo Many have asked for a brief rundown of the terminology and “lingo” used during the business credit process. This informative piece is to help bolster your credit knowledge, so that you can discuss the finance process confidently. TIB – Time in Business Not surprisingly, this is one […]
Businesses Can Benefit from New Equipment
Outdated Equipment Can Affect the Bottom-Line: A pitfall many operations managers run into is keeping old and outdated equipment in service past its recommended service life. Continuing to pay to update and repair outdated equipment is costly. Old equipment can be similar to driving a car that needs more repairs than it’s worth. We’ve all […]
Finance 101: ID and Data Security
Finance 101: ID and Data Security Data security is becoming more critical during the digital age. With the easy access to data and records, it’s important to be aware of common data security topics, such as phishing, predatory lenders and creating strong passwords. Phishing Scams Phishing scams are another threat to those using email for […]
Intelligent Ag Equipment Finance Partnership
Intelligent Ag Solutions Partnering with First Western Equipment Finance to Offer National Finance Programs EDEN PRAIRIE, Minn. – First Western Equipment Finance, a division of First Western Bank & Trust, announced today a partnership with Intelligent Ag Solutions (Intelligent Ag) to offer equipment finance programs for agricultural customers. “We’re excited to offer flexible financing and […]
FAQs about Equipment Finance & Insurance
With the help of our Insurance Manager, Marilyn Hankerson, we’ve put together a basic insurance overview of what your customers can expect after purchasing equipment with financing. Just like an auto loan or lease, equipment being financed through a lender (First Western Equipment Finance) must carry insurance. Oftentimes, businesses and other organizations have policies that […]
Equipment Finance for Medical Manufacturers
EDEN PRAIRIE, Minn. – First Western Equipment Finance, a division of First Western Bank & Trust, announced today its entrance into the medical equipment segment, guided by industry veteran Duncan Leighton. “We’re pleased to have recently provided financing for a number of leading care centers and public hospitals across the country. Our success has come […]