Employee Retention Credit

FAST AND AFFORDABLE BUSINESS FINANCING:

Competitive industry rates
Terms Up To 60 Months
Funding in as Little as 24 Hours

MINIMUM BUSINESS REQUIREMENTS:

Must be operational by February 15, 2020,
Must have an Employer Identification Number (EIN) by December 31, 2020.
Gross receipts must have decreased by at least 20% over the same quarter in 2020.

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Any Equipment You Need - In or Out of the Office

Whether you need a tractor for your farm or a bunch of laptops for your office, equipment financing may be right for you. Find out more in our Ultimate Guide to Equipment Financing in 2021

What is the Employee Retention Tax Credit (ERTC)?

Did your small business maintain payroll coverage during the pandemic? Congratulations! You may qualify for a tax credit from the Internal Revenue Service.

Employee Retention Credits, or ERTCs, were introduced as part of CARES Act relief in the early days of the COVID-19 pandemic. This program was intended to encourage smaller businesses to retain their employees but was widely overshadowed by the Payment Protection Program.

It is still possible to apply for ERTC retroactively both for 2020 and 2021. Additionally, small businesses who have received PPP loans are eligible to take the ERTC.

ERTC is a credit, i.e., free money off your tax bill. Remember that unlike a deductible, which decreases a business’s taxable income, a credit reduces the amount of total tax owed to the IRS.

By the end of tax season 2022, millions of dollars will be available in the form of ERTC—make sure you are getting the cash you deserve if you’re eligible.

Financial Health

Improve your business credit with on-time payments. Upgrade your equipment without disrupting cash flow.

Easy Qualification

Qualify for up to $150,000 with a 675 FICO & 3 years in business

Only 1 Year in business is needed if you have Excellent Credit (775+)

Additional Perks

Simple application and qualification process with quick access to funds.

Equipment financed or leased may qualify for the Section 179 Tax Deduction.

FAQs

Q: How is equipment Financing?

Q: How does a business line of credit work?

Q: How does equipment financing differ from equipment leasing?

A: Equipment financing and equipment leasing are both options for acquiring new equipment for your business, but they each have distinct advantages and disadvantages. There is a major difference between the two options regarding equipment ownership. When you use equipment financing, you are purchasing the equipment from a vendor and are; therefore you are the owner. Leasing, however, does not give you ownership of the equipment outright. Rather, you rent equipment for a set period of time, with the option to purchase it at the end.

Q: What are the advantages of leasing versus financing equipment?

A: Equipment Financing is a collateralized loan that allows you to purchase equipment for business use. There are many benefits to equipment financing, including:

Preserve existing working capital
Tax advantages through the Section 179 Tax Deduction*
Improve your credit score with timely payments

An equipment lease is a rental agreement between an equipment vendor and a business, where you rent equipment from a vendor for a monthly payment. You do not own the equipment during the lease term (think about leasing a car for personal use – it’s just like that!). There are many benefits to equipment leasing, including:

Preserve existing cash flow
Permits regular upgrades to your equipment
Tax advantages through the Section 179 Tax Deduction*

* Always consult your tax advisor about any tax advantages that may be available with equipment financing and leasing, as the tax code may change each year (or even mid-year) without notice.

Q: What type of financing can I finance?

A: IMS Fund equipment financing is not just for heavy machinery. In fact, you can finance almost any type of equipment, vehicle, or software you need to run your business. Here are just some of the business equipment needs that you can get covered:

X-Ray Machines, Autoclaves, CAD/CAM Technology, Dental Treatment Units, and more
Bull Dozers, wheel loaders, telehandlers, aerial platforms, trenchers, pavers, and more
Solar Panels and HVAC Units
Commercial mowers, front-end tractors, loaders, backhoes, excavators, and more
Forklifts, workbenches, flow racks, case sealers, conveyor belts, and more
Office furniture
Trailers, delivery vans, company cars, food trucks,
Commercial ovens, freezers, refrigerators, grills, food processors, and more.

Q: Can I use the Section 179 tax deduction with equipment financing?

A: Section 179* of the tax code allows small businesses to deduct the full amount of the purchase price (up to certain limits) of general business equipment. This deduction allows you to lower the amount that you pay for business equipment substantially. You can see additional benefits when your new equipment is leased or financed using Section 179 qualified financing. To be eligible for this deduction, you must have purchased/ leased/financed your equipment and have it placed into service during the year in which you plan to take the deduction.

This use-it-or-lose-it write-off is an excellent incentive for businesses to purchase, finance or lease the business equipment they need. However, ever-changing federal and state tax laws and tax and stimulus acts can always affect Section 179, so it is critical to speak with your accountant PRIOR to purchase to determine whether or not your equipment meets eligibility requirements for these tax benefits.

* Always consult your tax advisor as to any tax advantages that may be available with equipment financing and leasing, as the tax code may change each year (or even mid-year) without notice.

How To Apply?

It only takes a few minutes to apply for a line of credit with IMS Fund. Please fill out our online application, upload your three most recent bank statements, and you're good to go! Upon receipt of your application and bank statements, our Financing Specialist will contact you and let you know what credit line size you qualify for.

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Business
Credit Line

Equipment
Financing