In every business, having access to the right equipment at the right time is crucial for success. Remaining competitive often requires regular upgrades, expansions, and big-ticket purchases; however, these solutions can be costly to implement. One way to gain that competitive edge is by equipment financing. Getting a loan for heavy machinery can provide a…
The three national credit bureaus have announced that they are making significant changes to the way medical debt collection data is reported on consumer credit reports. Specifically, the bureaus have agreed to three major changes, which are anticipated to impact 70% of medical collections. • Effective July 1, 2022, paid medical collection debt will no…
Due to the pandemic, many Americans have been working from home, but only certain people will qualify to claim the home office deduction. This deduction allows qualifying taxpayers to deduct certain home expenses on their tax returns when they file their 2021 tax returns next year. This blog post is a relevant article originally posted…
“Small businesses are struggling to recover amid pandemic-related headwinds according to data released today from Goldman Sachs 10,000 Small Businesses Voices. The data from a forthcoming survey completed last week is a critical warning sign for policymakers amid the increase in COVID-19 cases that more action is needed to aid small business owners as they…
AFP is so incredibly PROUD to share that Carrie Radloff was named among the Monitor’s TOP Women in Equipment Finance in 2020. Since its launch in 1974, the Monitor has evolved into the leading independent trade publication in the equipment finance and leasing industry. This acknowledgment is a tremendous honor for Carrie and is so deserving. Carrie…
This article was originally published on Equipment Finance Advisor The American Institute of CPAs (AICPA) and a coalition of more than 560 organizations representing millions of employers and American workers sent Congressional leaders a letter urging passage of legislation making it clear that expenses related to a forgiven Paycheck Protection Program (PPP) loan are tax-deductible. The letter…
Happy November! As we enter into the final months of 2020, we would like to reflect on the year. Though this year has been unprecedented, we still have so much to be thankful for! Each week we will be sharing what we at AFP are thankful for. “I am thankful for so many things that…
All businesses require a type of equipment to perform their operational activities. For example, construction companies need bulldozers and excavators, while creative services companies may need long-arm quilting machines. While some businesses can purchase their equipment in full, others may lack the capital. Thankfully, equipment financing offers a practical funding solution for expensive equipment. If…
AFP has an amazing team of hardworking, professional, and passionate employees. This month’s employee spotlight is featuring Alayna Pederson. Alayna is from Canby, MN, and is a marketing intern at AFP. She is currently in her last semester of graduate school at The University of South Dakota and will receive her MBA with an emphasis…
Upgrading or purchasing new equipment is influential in helping your business grow. Businesses can get to the point where they have plateaued and need to invest in their business for it to grow and become more profitable. You may need to purchase new technology, machinery, or vehicles. Taking that next step to purchasing new equipment,…
This article was originally posted to the AACFB newsletter by John Chaplin. American Financial Partners is a member of the AACFB. From the title, you might think this article is about networking on the golf course and having a successful business. It’s not. It actually refers to something I heard Phil Mickelson say on a…
[vc_row css=”.vc_custom_1590175131052{margin-top: 0px !important;}”][vc_column][vc_column_text]If you’re feeling anxious about your financial health during these uncertain times, you’re not alone. That’s why the three national credit reporting agencies are giving people weekly access to monitor their credit report — for free. Now it’s easier than ever to check your credit more often. That’s because everyone is eligible…
Our world has changed tremendously in just a few short months. Business owners who have never financed before or have only used their banks will be looking for alternative finance options – one thing everyone has learned – CASH IS KING – conserve it. Equipment vendors NEED to offer financing – now more than ever! A…
With everything going on in the world right now, let’s focus on what is most important – people. AFP has an amazing team of hardworking, professional, and passionate employees. This month’s employee spotlight is featuring Jackie Paulson. Jackie is from Canby, MN, and started college at SMSU in Marshall. Instead of completing, she went on a…
It’s all about cash flow right now! AFP may be able to help save you money on a business necessity – insurance. AFP has worked with instaCOVER for years as a valued and trusted partner. They have helped many of our customers with their commercial equipment insurance needs. Below are a few highlights of the program. No…
American Financial Partners would like to congratulate Casie VanEngen on her 3rd year work anniversary. What is Casie’s favorite part of working at AFP? ” I love working at American Financial Partners because we help people achieve their dreams! In addition to working with our amazing customers, I have the best team to work with! I am…
In a recent independent survey of 2412 Business Owners (less than $30,000,000 in revenue): Companies that pay cash for equipment keep equipment longer Companies that pay cash for equipment have higher maintenance expenses Companies that pay cash for equipment have more equipment downtime Companies that pay cash for equipment have more employee turnover Think about…
5 Things No One Tells You About Surviving a South Dakota Winter Our offices got 8 inches of snow overnight! South Dakota gets some serious winter storms, but even our more mild winters can require some hardy fortitude. If you’re new to the state, here are nine things that no one tells you about surviving…
Josh and Nick will be attending The International Surface Event in Vegas on January 28th! TISE is the largest North American floor covering, stone, and tile industry event and is THE industry marketplace for buyers, specifiers, and influencers to source products, gain design inspiration and develop their businesses. Apply now and get pre-approved to shop with…
The new year is giving scammers an easy way to forge documents. You can protect yourself with an easy New Year’s resolution: Stop abbreviating the year. This post was originally posted by USA today. find it here Because this year starts and ends with the same two digits, documents dated with the abbreviation 20 are…
By allowing businesses to deduct the full amount of the purchase price of equipment (up to certain limits), Section 179 is a fantastic incentive for businesses to purchase, finance or lease equipment this year. If your business plans to take advantage of the Section 179 tax deductions for 2019 DO NOT DELAY! To qualify for a…
A credit score is a number lenders use to help them decide how likely it is that they will be repaid on time if they give a person a loan or a credit card. Your personal credit score is built on your credit history. For a score with a range between 300-850, a credit score…
American Financial Partners has some impressive and hardworking people on our team. Each month, we’ll be featuring an employee on our newsletter and our social media accounts. Kristine Merrill is the Senior Credit Analyst at AFP. Her experience and the knowledge that she has gained through her years of employment at AFP have made her…
National Women’s Small Business Month takes place each year during the month of October. American Financial Partners is proud to be a business with strong female leaders and this month is a time to celebrate it! “National Women’s Small Business Month is a time to recognize and applaud the talented, dedicated and driven women whose…
American Financial Partners recently celebrated 15 years in business! In 2004, Amy and Emily started AFP to help other ambitious small businesses achieve their dreams. Today, AFP is still committed to making the American dream come true. For those who dare to take the first step toward starting their own business, and those who see…
American Financial Partners has some impressive and hardworking people on our team. Each month, we’ll be featuring an employee on our newsletter and our social media accounts. Jaci Weber is the Director of Operations at American Financial Partners and is a crucial part of the growth and profitability of AFP. Jaci’s years of experience in…
Many of us know the importance of separating personal and business life, but if you are a small business owner that can become almost impossible. You are your business. Even if you work hard to keep your business credit strong, if you have issues on your personal credit bureau report, those can also affect the…
Did you know that American Financial Partners is located in Gary, South Dakota? Here in Sodak, one of the big things we are known for is Mount Rushmore. Here are seven facts you may not have known about this National Monument: (These facts come from onlyinyourstate.com) The cost to complete Mount Rushmore was $989,992.32, which…
American Financial Partners has some impressive and hardworking people on our team. Each month, we’ll be featuring an employee on our newsletter and on our social accounts. Josh Penman is one of AFP’s business development directors and is responsible for developing and maintaining vendor and customer relationships. Josh has been an integral part of AFP’s…
This article was originally published by Craig Dacy. See the original post here I have a pet peeve. You know when you’re at the grocery store and you see shopping carts littered around the parking lot? That drives me insane. I realized there are 2 different people in this world; cart returners and cart deserters. Whichever side…
If you haven’t scheduled a time to meet with Carrie at the AWFS show yet, call or email her to do that: Email: Carrie@financewithafp.comPhone: 507-828-1039 AFP is running a RATE SPECIAL for the show! As a reminder we… *Have an application only program up to $750,000 *Finance new and used equipment for all credit types *Have terms up to 84…
Money and the way we handle it has short term and long term impacts on people’s lives. That’s not a thing that we take lightly. Since AFP’s launch in 2004 we have been developing relationships with hundreds of banks, commercial finance companies, and private investment groups. During that time, we’ve focused on what these lenders…
Congratulations to JoAnna on her new Gammill Statler 26-10! A Statler gives you the flexibility of hands-free quilting, with exceptional features and the latest in quilting innovations. We hope you love it!
Equipment purchases typically slow in summer months. Sales teams are often challenged with indecisive customers during this time period. But have you ever wondered why sales follow these similar cycles from year to year and what you can do about it? The real reasons for the “summer slump” are many, but the consistent behavioral pattern…