Patriot Capital Industry News

August 2017 Patriot Capital Industry News

Patriot Capital's Why Wait program allows you to upgrade your site this summer, and have no interest or principal payments until 2018. The program applies to all C-Store and fueling equipment, including gas pumps and underground storage tank (UST) upgrades. The promotion applies to all brands of equipment, installation, shipping and taxes for upgrades and new sites ordered by Nov. 30, 2017.

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Patriot Capital announces "Why Wait" Financing Promotion

Patriot Capital has launched a program designed to allow convenience store operators the ability to upgrade fueling and convenience store equipment this summer, with no interest or payments until 2018.

The program has been launched in recognition of the desires of convenience store owners to improve their customers’ experience and lower operating costs. Upgrades that many convenience stores are investing in include new EMV gas pumps and underground storage tank (UST) upgrades to meet current EPA regulations. 

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July 2017 Industry News from Patriot Capital

The first EMV chip transactions have now occurred in the U.S. Kamlesh Patel, owner of 49 Fuels, stated that since "our dispensers were already EMV-ready, turning on EMV at the dispenser just required a simple Passport software upgrade." 

Industry research suggests that up to half of the gallons pumped in the U.S. in 2018 will be from EMV enabled dispensers – dispensers that have EMV hardware installed and need only a POS or minor dispenser upgrade.
 

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June 2017 Industry News from Patriot Capital

Dispenser and POS Companies See the Future - In the Cloud

Over the past several weeks, GilbarcoWayne FuelingConexxus and Verifone have held their annual user meetings. One of the objectives of these meetings is to provide customers with a glimpse into near term, and not so near term, products.

Here are some of the key trends that were discussed at these meetings:

  • Autonomous and connected cars. 
  • Millennials. 
  • The Cloud. 
  • EMV and Payment Security. 
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May 2017 Industry News from Patriot Capital

Does Trump's Tax Plan Mean Higher Costs for C-Stores?

President Trump has announced one of the largest tax cuts tin history. The changes will impact most American businesses, including convenience stores.

The planned reduction of taxes proposed for “for corporations, small businesses and partnerships of all sizes” is the headline story. At the same time, the maximum personal income tax rate is proposed to be 35 percent and the number of personal tax rates would drop from seven tiers to three (35 percent, 25 percent, 10 percent). 

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April 2017 Industry News from Patriot Capital

Fed Increases Interest Rate, Two More Increases Expected in 2017

Citing continued economic growth nationwide, the Federal Open Market Committee (FOMC) voted unanimously to increase rates by a quarter of one percentage point. The committee also announced it expects to increase the interest rate two more times in 2017.

"The economy continues to expand at a moderate pace," Fed Chair Janet Yellen said at a press conference on March 15. "Solid income gains and relatively high levels of consumer sentiment and wealth have supported household spending growth. Business investment, which was soft for much of last year, has firmed somewhat, and business sentiment is at favorable levels. Overall, we continue to expect that the economy will expand at a moderate pace over the next few years."

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March 2017 Industry News from Patriot Capital

Eight Most Common Reasons Equipment Financing is Used

Nearly 80% of U.S. businesses finance or lease equipment, according to a report from the Equipment Leasing and Finance Association (ELFA).

The eight primary reasons businesses chose equipment financing are highlighted in this infographic

The most common reason is the ability to finance 100 percent of equipment and related costs, saving cash-on-hand for other expenses.

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