Equipment Finance

Friday, August 22 at 08:25 AM
Category: Business Banking

Most business owners spend considerable time analyzing and trying to improve the cash flow of their business for day-to-day operations and for growing the business.

One method of improving a company's cash flow is to finance/lease necessary equipment. This saves an initial outlay for the entire cost of the equipment and spreads it over some term with a built-in interest cost. Equipment financing is a very common way many small business owners help capitalize their business and manage their cash flow.

How does it work?
An equipment lease is a contract between the company (lessee) and the financing company (lessor). The financing company may be a bank, leasing company or the equipment manufacturer. The contract commits the company to make monthly payments over a period of time for the use of the equipment. It may also include an option for the company to buy the equipment, for some stated price, at the end of the lease. The amount of the monthly lease payment is based on:

  1. The purchase price of the equipment
  2. An interest rate built into the payments
  3. Term of the lease
  4. Creditworthiness of the lessee
  5. Estimated residual value of the equipment at the end of the lease
  6. Useful life of equipment

There may be some initial down payment on the lease. During the lease period, the lessee usually has the obligation of maintaining and insuring the equipment. At the end of the lease, depending on the terms, the lessee may buy the equipment or simply return it to the lessor.

Benefits of equipment finance:

  1. Any initial down payment will, of course, be less than the total cost of the equipment. This immediately reduces cash outflow.
  2. Lease payments can be a tax-deductible business expense. If you own the equipment outright, there would be annual depreciation expenses.
  3. The lease approval process is usually relatively quick.
  4. The amount of paperwork may be less than that required for a business loan.
  5. An option to purchase at the end of the lease gives the business the right, not the obligation, to purchase. This choice can enable the business to reduce the risk of ending up owning a piece of obsolete equipment.
  6. Most leasing companies will require a personal guarantee of the lease by the owner of the business.

In evaluating whether to buy or lease, make sure to weigh the benefit of improved current cash flow against the cost of money (the interest rate) built into the lease. If leasing makes sense for you, this method of financing can be a very good way to grow your business.

Tags: Arvest Biz, Business Banking, Equipment Finance

Foster Joins Arvest Bank in Berryville, Ark.

Friday, August 22 at 05:35 AM
Category: Arvest Community News

We're excited to have Don Foster, a native to Carroll County, join Arvest as a Community Lender in Berryville, Ark.

BERRYVILLE, Ark. — Arvest Bank is pleased to announce that Don Foster has joined Arvest Bank in Berryville as a Community Lender.

Foster joins Arvest Bank after 25 years with Tyson Foods and is the owner and operator of a broiler and cattle farm in Green Forest.

“We are so excited that Don is bringing his lifetime’s worth of experience and knowledge of Carroll County to work with us here,” said John Gregson, Arvest Community Bank President in Berryville. “He knows and understands the needs of the local customers and will be a valuable asset to our Arvest team.”

A native of Green Forest, Foster graduated from Green Forest High School and attended the University of Arkansas.

He has an extensive list of service to his community. He has served as the president of the Carroll County Fair Board, the Carroll County 4H Foundation Board, Agri Day Committee, Books and Bloom volunteer, was Carroll County Farm Family of the Year and a member of many other civic organizations. He and his family have shown cattle successfully on the local, state and national levels.

Foster and his wife of 25 years, Barbara Foster, have two daughters, recent University of Arkansas agriculture graduate Olivia and freshman University of Arkansas nursing major Audrey. The family attends the United Methodist Church in Green Forest where Foster and his wife have served as youth ministers and on other boards.

Tags: Arkansas, Associates, Press Release

Put Your Eyes to the Test During National Eye Exam Month

Thursday, August 21 at 11:10 AM
Category: Arvest News

Your eyes. They've been with you for your entire life, but how well do you really know them? Let's see. Take out your number two virtual pencil and tell us if the following statements are "True" or "False."

  1. 39 million people in the world today are blind.
  2. 234 million people have some kind of vision impairment.
  3. 80 percent of vision problems can be avoided or cured.
  4. Vision requires 80 percent of your brain to be involved.
  5. Eyes heal quickly.
  6. Your eyes can get sunburned.
  7. Around the world, an adult goes blind every 5 seconds.
  8. Your eyes blink an average of 17 times per minute.
  9. Smoking increases the risk of eye disease.
  10. Someone can get an eye disease at any time.

If you answered "True" to all of the statements above, you not only scored 100 percent, but also made an important case for why it's critical to get a regular eye exam. In honor of the importance of eye care, the month of August has been designated as National Eye Exam Month, a period dedicated to eye health and safety. Even if you have perfect vision and your eyes don't bother you, it's critical to get your eyes examined regularly.

An eye exam can help you in a number of ways, including:

  1. Diagnose eye diseases. You could have an eye disease or the onset of one without ever experiencing any symptoms. An optometrist will be able to determine eye diseases during an exam, helping you get the treatment you need.
  2. Diagnose health issues. Your eyes say a lot about your health. An optometrist also may be able to detect signs of diabetes, high blood pressure, or glaucoma.
  3. Vision correction. Your vision changes over time. So while you may not have needed glasses before, you might need them now. In addition, if you have a prescription for eyeglasses, it may need to be updated.
  4. Better performance at school for kids. Vision problems can result in reading and other learning difficulties for children at school. That's why it's important to get your children checked regularly as well.
  5. Better health. Do you suffer from headaches? Your pain may be related to your eyes. Be sure to talk to your optometrist about any pain you experience.

Make a bright move this August!
Observe National Eye Exam Month by scheduling eye exams for you and your family members.


Friday Financial Forum Aug. 22 in Bartlesville, Okla.

Thursday, August 21 at 07:35 AM
Category: Arvest Community News

Join us Friday, Aug. 22, at 10 a.m. for our Friday Financial Forum. We’ll meet in the Friday Forum Room at Arvest's Eastside Branch located at 4225 Southeast Adams Rd., Bartlesville, Okla.

Every Friday we invite customers like you to attend our one-hour Financial Forum. This Friday, we're pleased to welcome guest speaker Chris Batchelder, president and CEO of the Oklahoma State University Alumni Association.

What else you can expect at the event:

  • News: "The Scoop" about businesses coming, going and expanding in Bartlesville (Amelya Wilmott, Arvest Bank)
  • Information: Community leaders share topical, local and state information (Senator John Ford, Representative Earl Sears and city councilman Mike McGrew)
  • Updates: Arvest provides current economy and stock market trends (Sonya Reed, Arvest Bank)
  • Hilarious Anecdotes: Jim Bohnsack, Arvest Bank

We look forward to having you join us! There is no need to RSVP; just join us if you can. If you have any questions about the event, please contact Amelya Wilmott at (918) 337-4358.

Tags: Bartlesville, Oklahoma

Holy Cow in Poteau, Okla.!

Wednesday, August 20 at 10:15 AM
Category: Arvest Community News

Have you seen the newest bull in town? Pop on by the Arvest in Poteau, Okla., to take a look! Arvest’s popcorn decorated bull will be tied up inside its branch at 3002 N. Broadway before MOOving to its permanent location at the Arvest ATM at 1228 S. Broadway.

As a long-time supporter of the community, Arvest is excited to join the “Bulls for Poteau Project” steered by the Poteau Chamber of Commerce and the City of Poteau. The organizations announced the project in February 2013 to beef up the arts and history in the community.

In 2013, the groups grabbed the bulls by the horns and placed the first two bulls at the north entrance to town and at the Reynolds Center. Now, other Poteau businesses are chipping in and placing painted bulls in front of their locations.

The Black Angus bull symbolizes both art and the history of the community. Senator Robert S. Kerr made the Black Angus bull notorious in Oklahoma in 1961 when he showed off his prize bull to President John F. Kennedy during a visit to the Kerr Ranch in Poteau.

Tags: Community Support, Oklahoma

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