Vendor financing is a tool used by equipment dealers to obtain financing for their clients. If your business involves selling equipment to business owners, then you should consider looking for an equipment lease financing broker who can supply you with all several different equipment leasing programs to help you get your clients financed.
In this article, let’s talk about the basic facts that you need to know about this method of leasing and how it can help your own small business.
The Equipment Leasing Broker – Vendor Relationship
Companies that sell business equipment often seek out equipment financing companies so they can have a means getting those clients financed. Many equipment dealers use these leasing programs as part of their sales arsenal. Everyone knows its easier to sell a $300 payment instead of a $15,000 cash sale. Equipment leasing programs allow dealers to do just that. Sell the payment. Then of course there are numerous benefits to the clients that choose to lease their equipment. But we will leave that for another article! Bottom line, equipment leasing offers a way for the equipment vendor to increase their sales.
By being able to provide financing to their clients. An equipment dealer gains the additional advantage of being a one stop source to their clients. Every salesperson hates having to see a potential sale walk out the door. If you don’t have the means to provide financing for your clients you are allowing them to walk out the door and into the showroom of an equipment dealer that does! Equipment leasing helps you close the sale immediately! .
Choosing Your Equipment Lease Broker
Companies that offer vendor leasing services may offer different financial packages to suit the demands of their vendors. If you are in a seasonal business, make sure your leasing partner can offer your clients financing that is repayable only during the seasons they work! If you work with a lot of businesses, make sure they can work with start up businesses.
Interview your leasing partner and make sure they can finance the type of equipment you sell. Learn about their programs and watch your sale skyrocket!
About the author: Lai Castillo is an equipment leasing broker that specializes in getting start up equipment leasing and providing articles in finding solutions for Leasefunders.com. For more information on our vendor leasing programs or for an overview of all our programs, please visit leasefunders.com.