Sometimes I get a thought in my head and it takes several different directions. I’ll write a post about it, then I think of a different angle on the same thought, and I’ll revisit with another post. This is one of those times. Recently I posted about financing equipment and how a lender saying “yes” is very validating to a business owner. It means their visions of growth were real and that a lender looked at their company and agreed it was time to grow. Well, I want to take that same thought and go back in time a few months. When does that business owner realize it’s time to grow? What is the ..read more

We finance all kinds of equipment at Crest Capital. But one of the more popular types of lending we do is financing heavy equipment for the construction industry. There are several reasons for this, chief amongst them is the construction industry is always on the move. When buildings go up, you need heavy equipment. When buildings come down, you need heavy equipment. When roads need to be built, you need heavy equipment. When land needs to be cleared, you need heavy equipment. When debris, goods, or even concrete needs to be moved, scooped, hauled, and/or delivered, you need heavy equipment.&n ..read more

My last post discussed construction equipment and how it’s not only revenue-generating but also holds its value relatively well. So a natural segue would be to discuss used heavy equipment financing, which I’m going to do here. Used heavy equipment financing is something Crest Capital has done for more than 30 years and remains one of our core offerings. We finance heavy equipment for both equipment purchased from a dealer, and we also finance private party used heavy equipment sales. In some cases, we even financed a piece of equipment when a company bought it new, then six years later finan ..read more

I recently talked about companies who financed equipment for the first time, and it reminded me of a story of a particular first timer. The company in question is a tree service company, and since he’s become a client, I’ve gotten to know the owner quite well. He started out with a bucket truck, a stump grinder, and a few chainsaws that he got from his father – classic son taking over dad’s business. Dad never got beyond “him and a helper” but his son had bigger ideas. Fast forward two years: the company finances looked great, and the phone was steadily ringing. He felt he was ready for a lea ..read more

We have a ton of repeat business at Crest Capital.  Companies who finance equipment with us again and again. But it occurred to me that every equipment financing client, whether it’s ours or someone else’s, at some point in their company history financed equipment for the very first time.  And for those companies, it was likely a daunting step, filled with hopes, dreams, quite a bit of trepidation,  and more than a few sleepless nights of “should I or shouldn’t I?” So this post is for you, first timer! Or those who remember their first time financing equipment. Because it’s not ..read more

Let’s talk about making Section 179 acquisitions early in the year. Because it’s a great time to take advantage of this excellent tax deduction. I can hear you saying “But Fletch, nobody talks about Section 179 early in the year. In fact, I never even think about it until the fourth quarter when I’m scrambling to get my equipment purchases in to make the deadline.” And that’s exactly my point. Using Section 179 earlier in the year makes a ton of sense. Let me list a few reasons why: You LOCK IN Your Tax Deduction I’ve known companies who held off on a Section 179 purchase, opting to wait unti ..read more

There’s a saying in the stock market that goes something like this: The best time to invest was ten years ago. The second-best time is right now.  The implication is that there really is no better time than right now, unless we have a time machine. Which we (sadly) don’t. The same goes for acquiring equipment for your company – there is almost no better time than when you need it. Forget market conditions, and forget trying to time things economically. If you need it and can afford it, get it. Because you can’t grow without it. And it’s not just growth. You also need to keep pace with yo ..read more

Happy New Year! It’s the day you’ve all been waiting for: the 2024 version of Fletch Predicts!  I’ve been on a pretty good roll – AI was the buzzword for 2023 just like I thought it would be, and I hit on one sports pick too. And rates pretty much did what I predicted as well. Now onto 2024.  Sports first: for football, let’s go with a rematch of a super bowl of my youth: San Francisco 49ers vs. the Miami Dolphins. It’s not Dan Marino vs Joe Montana this time, but it should be fun. And in a reversal of last time, a Miami win! *Note that I do write these a little ahead of time, so I ..read more

We don’t mention this enough here at Crest Capital, but one thing that is a big advantage to our customers is our willingness to go over and above – both figuratively and literally. Figuratively is our excellent service. But how we literally go “over and above” is by financing soft costs and extras. Indeed, a full 25% of your entire loan amount can be soft costs and extras.  When you finance equipment anywhere else, there’s a good chance you’ll have to reach into your own pocket for these soft costs and extras.  And what are these soft costs and extras that Crest will finance but ot ..read more

It’s the holiday season again, and that means it’s time for my annual wish list. Last year, I asked for a few things related to economics. First and foremost, I wished for rates to stop going up. I knew this was a tall order for the earlier parts of the year, but lately this seems more promising. I also wished for the supply chain to loosen up, and for most industries, it did exactly that. Oh, and I got the Jimi Hendrix album I mentioned too!  So I’m pretty happy with my 2023 haul… now let’s get on with 2024.   First up, I want a rate cut. Truthfully, I’d like a few cuts, but I ..read more