Are you a vendor trying to increase your customer base?
A business owner trying to conserve your capital?
Equipment financing might be a Equipment financinggreat option.
Equipment financing options can be used to acquire products that cost from several hundred dollars to tens of thousands of dollars. It’s the perfect financing option for business owners who want to increase their sales and profit by providing a financing alternative to their customers. Equipment that can be financed ranges from office furniture, to restaurant items, to construction and beyond. Don’t be afraid to ask.
Equipment financing options can be a choice for business owners that have a less than perfect credit score; it can also be a good match for the those that have a good credit score and are looking for a financing option that’s suited to their needs. Some owners want to take advantage of the potential tax benefits and minimize capital expenditures.
As an example, some “sign and vehicle wrap” businesses use this form of financing that increases their sales in an area where, because of the small profits, no other financing company might be willing or interested in helping. The advantages for the equipment business owners are obvious:
– The equipment vendors benefit directly by having access to a financing option and not having to take a financing risk on their own;
– They can attract clients who need to conserve cash, limit use of credit cards or bank loans; some even work with clients having poor credit or new businesses;
– The approval process can take as little as 24 hours;
– Vendors have the chance to up-sell and cross-sell to existing and new clients, giving them an alternative that eliminates their existing budget restrictions;
– With prior approval, vendors can receive half of the money up front from the finance company, allowing them to move forward much more quickly with their orders.
One of the most important benefits for the equipment business owner, though, is the partnership that forms between his/her company and the finance company in growing both vendor and the business owners’ companies.