“We Set Up And Administer Toronto Vendor Financing Programs For Equipment Dealers And Resellers”

Toronto vendor equipment financing programs are an essential part of the sales process for any equipment dealer or reseller.

By having a ready source of equipment financing and equipment leasing available to the customer, the equipment dealer or reseller is increasing their ability to close the sale as quickly as possible.

Any delays in this process can put the deal at risk as the customer may move to another dealer that has better access to the equipment financing they require.

The good news is that a Toronto dealer financing program for equipment can be set up fairly quickly through our network of equipment financing and leasing companies.

Our goal is to quickly assess the requirements of both your sales process as well as the average credit profile of your customers so that a program can be put into place that will help close sales.

Our approach is to provide third party services to administer the financing application and funding process.

This allows us to micro manage the specifics of each and every application that is put forward by your customer, increasing the chances of getting an approval in the process by making sure the information is properly packaged, and that the right financing companies are looking at the deal.

There is no value in having a customer make an application to an equipment financing or equipment leasing company that is not going to be able to help them.  Not only is valuable time wasted as a result, but your credibility as a dealer as well.

Vendor Equipment Financing Programs Can Both Make And Lose You Money

If you currently have a vendor financing program in place, is it giving you the results you’re looking for such as high approval rates and fast turnaround times?

Or is it costing your sales or putting sales at risk through less than adequate customer service and a low level of approvals?

The best way to determine whether or not your current Toronto vendor financing program can be improved is to allow us to conduct an audit of your program which would allow you to receive third party feedback and recommendations for improvement.

While many vendor financing programs do provide value to your business and your customers, they can also be improved upon in a number of different ways.

A significant level of potential improvement can increase sales and bottom line profits so its essential to know that the financing options being provided to your customers are the best available for your business, equipment inventory, industry, and customer requirements.

Does My Business Need A Vendor Financing Program
For My Customers?

This is a great question that should be asked by anyone selling equipment, leasehold improvements, software, and any other type of type of tangible good.

There is certainly no requirement to have a vendor financing program and in many cases, the business can do well without not having one.

But I think the question should be worded to say “why shouldn’t I have a vendor financing program” as having one can only help you get more sales and increase your profits.

If your customers never have a need for it ever (which is highly unlikely), then there is nothing lost other than you’re time to go through the process to get one set up.

The whole idea of a vendor equipment financing program is provide immediate sources of business to business credit to your customers for the assets that you have available to sell that they may wish to finance.

Could they do this themselves?

Of course they can and in many instances do just that.

But if the customer is not motivated to arrange their own financing or are having trouble locating the financing that fits their credit and financing profile, then you may not be able to close the deal or even lose it to a competitor that has an easy to use vendor financing program in place.

How Do I Get A Vendor Financing Program In Place?

The best thing to do is to give us a call so we can spend some time with you on the phone and review your business model and customer profile.

By going through this process, we can better determine what type of equipment leasing companies would be best suited for your customer needs and then get them to review and approve a vendor relationship with yourself.

Then we can customize the application process so that is fits as seamlessly into your sales process as possible, providing the customer with a complete solution in order to complete the purchase and retain their business.

The goal is to get a vendor financing program in place that you can either use as a marketing tool or to have available in the event that financing is going to be required.

How Can I Get A Customer Equipment Leasing Program In Place?

First of all, what exactly is a customer equipment leasing program?

In the most simplest terms, you as the business owner or manager have a pre existing relationship with one or more leasing companies that you can introduce to your customer that require financing to purchase equipment from you.

Why Can’t The Customers Do This Themselves?

They most certainly can and do in many instances.  In fact they could potentially end up working directly with a lease financing company that you introduce them to.

The difference with a customer leasing program that’s already in place is that the customer will immediately be dealing with a leasing company that provides equipment leases for the type of equipment in question and will be assisted with the financing application process to make the process go as fast as possible.

Aren’t All Leasing Companies Basically The Same?

In a word, No.

Unlike the large banks that most people are aware of and potentially used to dealing with, leasing companies tend to be smaller financial entities that are going to be focused on a certain slice of the equipment financing market place.

Each equipment leasing company will also have leasing criteria related to applicant credit, size of transaction, time in business, industry, and so on.  So there can be considerable differences from one company to another.

Taking it one step further, some of the more prominent leasing companies do not market directly to business owners and only work through broker networks so to gain access to them you would have to work through an approved brokerage arm of their business.

Don’t All Leasing Companies Provide Customer Leasing Programs?

Most do, but this can also be a tough one to figure out for any given business.

If you are only providing a vendor financing program through one leasing company, then you are limited to not only their credit and leasing policies as they may relate to your customer, but also their appetite for the type of business you send their way.

For instance, if you sell medical equipment to doctors and the leasing company one day says they can’t provide any more financing to your customers because they have reached their limit for that category in their portfolio, then you’re going to need to replace that source of financing in a hurry or potentially miss out on sales.

In our opinion, the best customer equipment leasing program is one that is administered through a broker who has access to a broad range of relevant lenders that collectively can provide the financing requirements for most of your customers, regardless of an applicants individual credit profile.

For more information on customer equipment financing programs, please give us a call and we’ll get all your questions answered right away.

Does Your Business Need To Provide A Customer Leasing Program For Your Customers?

Business to Business customer leasing for equipment that you may be selling has been around for a long time, but still completely understood by most businesses selling products that would qualify for lease financing.

The premise is to have equipment leasing options readily available to your customers in the event they require financing to complete a purchase transaction. Regardless of the industry, whether you need medical leasing or manufacturing leasing and anything in between, a customer leasing program is possible to arrange and put into place.

And while there are lots of leasing companies out there, its not always so easy to get a system in place that actually helps you make sales.

First of all, working with only one leasing company in many cases is a complete waste of time if your customer profile is broader than the lease financing requirements of that particular company.

As an example, if you have an “A” credit leasing company ready to take customer applications for financing, but the customer has “B” or “C” level credit, then its not going to do any good at all and may even cost you the sale.

Even if you have a setup that is working reasonably well, there are likely other leasing options you could add to the mix that you customers would appreciate and that would also potentially increase your sales closing ratios.

Get A Customer Equipment Leasing Program or Vendor Financing Program That Meets Your Business Needs.

The most effective customer equipment leasing programs are administered through a leasing broker that is set up with leasing companies capable of servicing the credit needs of your customer profile.

The best run programs provide your customer leasing requirements to the broker who quickly reviews the information and then redirects it towards the most relevant leasing source in order to increase not only the speed of the overall process, but the chances of short term approval success.

Even when customer equipment leasing programs are set up in this manner, they many times are not run by leasing brokers with enough experience to really add value to the process and/or do not have a broad enough spectrum of leasing sources to adequately cover off the needs of your target market.

If you’d like to set up a customer equipment leasing program for your business or would like to improve upon what you already have, I suggest that you give us a call for a free assessment of your options.

Does Your Business Need To Provide A Customer Leasing Program For Your Customers?

Business to Business customer leasing for equipment that you may be selling has been around for a long time, but still completely understood by most businesses selling products that would qualify for lease financing.

The premise is to have equipment leasing options readily available to your customers in the event they require financing to complete a purchase transaction.  Regardless of the industry, whether you need medical equipment leasing or manufacturing equipment leasing and anything in between, a customer leasing program is possible to arrange and put into place.

And while there are lots of leasing companies out there, its not always so easy to get a system in place that actually helps you make sales.

First of all, working with only one leasing company in many cases is a complete waste of time if your customer profile is broader than the lease financing requirements of that particular company.

As an example, if you have an “A” credit leasing company ready to take customer applications for financing, but the customer has “B” or “C” level credit, then its not going to do any good at all and may even cost you the sale.

Even if you have a setup that is working reasonably well, there are likely other leasing options you could add to the mix that you customers would appreciate and that would also potentially increase your sales closing ratios.

Get A Customer Equipment Leasing Program or Vendor Financing Program That Meets Your Business Needs.

The most effective customer equipment leasing programs are administered through a leasing broker that is set up with leasing companies capable of servicing the credit needs of your customer profile.

The best run programs provide your customer leasing requirements to the broker who quickly reviews the information and then redirects it towards the most relevant leasing source in order to increase not only the speed of the overall process, but the chances of short term approval success.

Even when customer equipment leasing programs are set up in this manner, they many times are not run by leasing brokers with enough experience to really add value to the process and/or do not have a broad enough spectrum of leasing sources to adequately cover off the needs of your target market.

If you’d like to set up a customer equipment leasing program for your business or would like to improve upon what you already have, I suggest that you give us a call for a free assessment of your options.