Frequently Asked Questions
Find your answers here
Can you approve Start Up or New businesses for equipment financing?
We can approve start-up businesses. We understand that Traditional Banking often declines these types of loans due to higher risk, but were not traditional. Start-Up businesses usually require a little better credit but we’re here to help your business grow.
Can I finance a piece of equipment from a Private Seller?
Will this be an Equipment Purchase or a Lease?
We offer both! Axe Business Funding offers a variety of finance solutions depending on what your needs are and what you qualify for. We offer lease financing, traditional equipment financing and working capital loans.
Will this show up on my personal credit?
NO it will NOT. This is strictly a business loan and written under your business. We report to your business credit and do not impact your personal accounts. Although we will use the personal credit of all owners to qualify for the loan.
Will this loan qualify for Section 179 Business Deduction?
YES! Section 179 of the IRS Tax Code allows a business to deduct, for the current tax year, the full purchase price of financed or leased equipment and off-the-shelf software that qualifies for the deduction. The equipment purchased, financed or leased must be within the specified dollar limits of Section 179, and the equipment must be placed into service in the same tax year that the deduction is being taken.
