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.