With Xcelerate Financial, companies have access to funds for business equipment, commercial vehicles, and technology products and more.
We offer financing up to $1.5 million for new and used equipment and technology and for up to $250,000, all that’s required is a simple one-page application. We also offer a pre-approval process so business can budget accordingly and know exactly what they can spend.
Speak to one of our Funding Consultants by calling 720-650-6313 or apply online. We will discuss your options that best meet your business goals.
Fill out our simple one page application and provide the requested supporting documents and our underwriting department will begin working on your approval. Decisions usually within hours.
Upon approval, purchase the equipment you need and put it to work!
Ask about all-inclusive financing. The cost of new equipment goes beyond the sticker price and may also include shipping, taxes and other expenses. Xcelerate's 100% financing means financing these expenses assists in avoiding upfront costs.
WHAT IS SECTION 179
ESSENTIALLY, SECTION 179 OF THE IRS TAX CODE ALLOWS BUSINESSES TO DEDUCT THE FULL PURCHASE PRICE OF QUALIFYING EQUIPMENT AND/OR SOFTWARE PURCHASED OR FINANCED DURING THE TAX YEAR. THAT MEANS THAT IF YOU BUY (OR LEASE) A PIECE OF QUALIFYING EQUIPMENT, YOU CAN DEDUCT THE FULL PURCHASE PRICE FROM YOUR GROSS INCOME. IT’S AN INCENTIVE CREATED BY THE U.S. GOVERNMENT TO ENCOURAGE BUSINESSES TO BUY EQUIPMENT AND INVEST IN THEMSELVES.
LIMITS OF SECTION 179
SECTION 179 DOES COME WITH LIMITS – THERE ARE CAPS TO THE TOTAL AMOUNT WRITTEN OFF ($1,000,000 FOR 2019), AND LIMITS TO THE TOTAL AMOUNT OF THE EQUIPMENT PURCHASED ($2,500,000 IN 2019). THE DEDUCTION BEGINS TO PHASE OUT ON A DOLLAR-FOR-DOLLAR BASIS AFTER $2,500,000 IS SPENT BY A GIVEN BUSINESS (THUS, THE ENTIRE DEDUCTION GOES AWAY ONCE $3,500,000 IN PURCHASES IS REACHED), SO THIS MAKES IT A TRUE SMALL AND MEDIUM-SIZED BUSINESS DEDUCTION.
WHO QUALIFIES FOR SECTION 179?
ALL BUSINESSES THAT PURCHASE, FINANCE, AND/OR LEASE NEW OR USED BUSINESS EQUIPMENT DURING TAX YEAR 2019 SHOULD QUALIFY FOR THE SECTION 179 DEDUCTION (ASSUMING THEY SPEND LESS THAN $3,500,000).
USING A $75,000 EQUIPMENT COST FOR A SAMPLE CALCULATION SHOWS HOW TAKING ADVANTAGE OF THE SECTION 179 DEDUCTION CAN SIGNIFICANTLY LOWER THE TRUE COST OF THE EQUIPMENT PURCHASED, FINANCED OR LEASED. IN OUR EXAMPLE, $75,000 IN EQUIPMENT PURCHASED HAS A TRUE COST OF $48,750. THAT’S $26,250 SAVED. WOULD YOU LIKE AN EXTRA “25 GRAND-PLUS” THIS YEAR ON EQUIPMENT YOU NEEDED ANYWAY?
IN ORDER TO QUALIFY FOR THE SECTION 179 DEDUCTION, THE EQUIPMENT MUST BE PURCHASED,OR LEASED AND PUT INTO SERVICE BY DECEMBER 31 OF THIS YEAR!