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.

Does Your Business Need To Vendor Leasing Program For Your Customer Equipment Purchases?

It can go by many names, but a vendor leasing program or vendor financing program is a pre-qualified financing opportunity for your customers who are going to require financing or want to utilize equipment lease financing to complete their purchase from you.

A vendor program basically means that the seller has gone to a leasing company or consultant, provided a detailed profile of their company, product offering, and profile of customer so that the leasing company can quickly assess and hopefully approve financing for their customers.

While a vendor or dealer leasing program does not guarantee a customer financing, it does greatly speed up the process of trying to secure financing by having a pre-qualified and highly relevant lender or leasing company receive an application for financing for equipment they are already comfortable with, provide by a vendor that they believe is financially stable and able to support customer sales transaction.

The best vendor financing or vendor leasing programs tend to be the ones that are run through equipment leasing specialist who have relationships with enough leasing companies to cover off the spectrum of credit that may occur in your customer base.

By sending customer deals through an equipment leasing specialist that has already pre-qualified the assets and vendor with a variety of lenders, the customer is more likely to be working with the right type of leasing company faster, increase the probability that financing can be put in place in time to close the sale.

Vendor financing program through equipment leasing companies is very common in North America, especially for vendors that have large product lines, ahigh volume of sales and customers requiring credit.

Get Vendor Equipment Leasing That Meets Your Business Needs

That being said, vendor financing can also be set up for a single product company.  But the key to any vendor financing program is going to be regular sales volume that makes it worth the leasing company’s time to provide more specialized attention to any particular vendor versus business applications received at large.

In order to set up a vendor financing program, the seller will likely have to have been in business for more than a year and have a track record of completed sales without any significant after sale issues.

Further, the more the item or items being sold can be considered to be a commodity, the more likely vendor financing can be arranged.  Failing that, the seller will have to be financially stable in order to deal with remarketing and repurchasing requests that the leasing company may have.

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