Here at GPS Solar we have an in house financing company. Midtown Credit Corp is a full service commercial finance broker that can arrange a variety of finance options at competitive rates. We are dedicated to helping you find the option that best suits your business’s needs. Solar Energy is a smart investment but only if you choose the right financial strategy. Below are some of these options that we can make available to you. If you have any questions please don’t hesitate to call. (914) 930 8243
A capital lease is more like a loan; the asset is treated as being owned by the lessee so it stays on your balance sheet.
An operating lease is treated like renting — payments are considered operational expenses which means you can write off the payments as a direct line item deduction on your taxes. The asset being leased stays off your company balance sheet.The best candidates for this option are those with a large tax liability These leases will usually have a Residual ( Balloon payment) .. The larger deals will require a residual of 25% to 30%.
With this option you will be the owner of your system but will make payments on it. One benefit of this option is that you will be able to claim all tax and government incentives. This type of finance will require a bank to review everything about your business and related property.
Commercial Line of Credit
Midtown Credit is a full service commercial finance broker and can help to arrange Lines of Credits (LOC) at very competitive rates.
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