During WasteExpo 2024, Kevin McGinn, Sr. VP for Commercial Credit Group Inc. (CCG), moderated a panel discussion titled Capital Investments: Choosing Areas for Investment & Where to Get the Capital. Panel members included: Dan Christensen from CARDS Recycling, Martin Mattsson from Volvo Construction Equipment, and Rusty Angel from Machinex. This post highlights some of the important points from the session and provides some key takeaways that waste and recycling companies can use to guide them as they make decisions about obtaining capital to fund and grow their businesses ..read more

As banks withdraw from the equipment financing industry and adopt more restrictive lending practices, there are fewer options to secure the funding necessary to purchase equipment and grow your business. Changes in lending policies can have a significant impact on both prospective borrowers seeking loans and established business owners who have been long-standing customers at a bank. In this post, we explain why banks move in and out of the equipment finance market and provide strategies to help mitigate the risks if your bank changes course ..read more

Many companies use financing to acquire the equipment they need to operate their businesses. Because equipment is costly, many companies can’t afford to buy it outright or don't want to use their available cash to buy the equipment, so they rely on financing instead. Financing equipment is not difficult or complex, but myths and misconceptions sometimes keep businesses from exploring financing options. Equipment financing is only for large businesses – not true. Equipment financing can only be used to purchase new equipment – not true. Getting an equipment loan is as difficult as getting a b ..read more

If your business is considering taking the Bonus Depreciation deduction for tax year 2023, you might want to consider filing an extension of time to file your returns. For calendar year taxpayers, the tax filing deadline for S-corporations and partnerships is March 15, and the deadline for C-corporations is April 15, so you should talk with your tax advisor soon ..read more

When it comes to purchasing equipment, many companies usually don’t have the available funds to pay cash, or they don’t want to use their cash to purchase equipment. So, they rely on equipment financing to get the machinery they need ..read more

Businesses often hear about data privacy and security, yet it's not until they encounter problems firsthand that the adage "hindsight is 20/20" truly resonates. A study conducted by Corvus Insurance in 2022, revealed a startling fact: forty-three percent of all cyberattacks are now directed at small businesses. This statistic serves as a glaring reminder of the urgent necessity for robust data protection strategies to mitigate the escalating vulnerability posed by cyber threats ..read more

We sat down with CCG's President and CEO, Dan McDonough, to get his insights into this past year in order to help construction, manufacturing, transportation and waste hauling businesses make sense of the economic uncertainty, and prepare for what comes next.  ..read more

The Manufacturers Capital team had the opportunity to attend the recent FABTECH show in Chicago, and it was quite an experience. The event showcases fabricating and metalworking technology, provides a full agenda of educational sessions, and attracts visitors from all over the world ..read more

Financial Awareness Day serves as a reminder of the importance of understanding and managing our finances effectively. For industries such as construction, manufacturing, transportation, and waste, that rely on expensive revenue-generating equipment, this day offers an opportunity to explore equipment financing options that can facilitate growth, improve operational efficiency, and drive success. In this blog post, we delve into the significance of Financial Awareness Day for these sectors and shed light on some of the less than obvious benefits of financing equipment ..read more

Cash flow ebbs and flows even in strong economic times. But right now, given the general state of the economy, with rising interest rates, market volatility, and general business slowdowns - cash flow is a struggle for many companies ..read more