The state of the art in environmental pollution control and impact analysis Page: 81
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81
3. A true lease also offers considerable benefits from
a tax timing standpoint. The lessee treats the
rentals as a fully deductible, current business
operating expense, thus reducing the net cost to the
lessee by a percentage equal to the lessee's tax
bracket.
4. Leasing is more convenient. Documentation is far
more flexible and less costly than that required for
other debt and equity source financing.28
In 1973 the United States Small Business Administration
(SBA) conducted an in-depth study to determine what costs and
other problems will be involved for small businesses in com-
plying with new antipollution laws. As a part of this study,
several ways of financial pollution control costs for small
businesses were explored: (1) direct loans, (2) guaranteed
loans, and (3) "possible financing under the Lease Guarantee
Program."29 The Lease Guarantee Program was not put into
effect.
The following advantages were given by the Small Busi-
ness Administration for the use of direct loans: (1) low
interest rates, (2) long terms, and (3) inclusion of marginal
small businesses.30 The SBA felt that disadvantages may stem
from the lack of funding availability and the drain on SBA
personnel and budget.
Advantages of the guaranteed loans are: (1) minimal
budget expenditures, and (2) private sector participation.31
28Ibid., p. 30.
29"Study Seeks to Cushion Cost Impact of Pollution Fight
on Small Firms," Commerce Today (April 2, 1973), 10-11.
30Ibid., p. 10. 31Ibid., p. 10.
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Thibodeaux, Mary Shepherd. The state of the art in environmental pollution control and impact analysis, dissertation, May 1976; Denton, Texas. (https://digital.library.unt.edu/ark:/67531/metadc332517/m1/89/: accessed July 17, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; .