Fort Lauderdale-based Precision Paddleboards launched a fleet financing program for watersports concessionaires and tour operators in South Florida.

Stand up paddle boarding appeals to a wide range of people who love water sports, fitness, and adventure and can be enjoyed by people of all demographics, age, and fitness level, said Joshua Vajda, president of Precision Paddleboards, Inc.  Until now, even well-established watersports concessionaires and tour operators were faced with large, up-front cash outlays whenever they wanted to expand their fleets. With Equipment Financing Agreements, they can spread that cost out over time and reap the tax benefits associated with accelerated depreciation of their fleets.

The financing offered through Precision Paddleboards and Crest Capital is IRS Section 179 qualified, offering purchasers the ability to claim full depreciation of their equipment in the first tax year, resulting in a significant tax deduction. For some purchasers, the tax benefit alone can exceed the sum total of the first years payments for their new equipment.

Since the financing options are brand-agnostic, fleet purchasers can select from a broad range of quality board and paddle options, including Suplove, Riviera, BOGA, Surftech, Fanatic and more. Precision Paddleboards also offers the financing options on NightSUP (sm) boards, stand up paddle boards with integrated, high-intensity LEDs that illuminate up to 40 of clear water, allowing tour operators to expand their revenue-generating operations into the evening hours.