Equipment Vendor Financing Programs
If you are an equipment vendor or manufacturer, you MUST offer equipment leasing/financing options to your clients! A vendor financing program will help you close more sales, in less time… its that simple. When a vendor is able to offer equipment financing/leasing options to their end-user, 75% of the time, the customer will not seek a quote from a competing vendor. You become a true “one-stop shop,” and the customer feels comfortable dealing with a recommended and reputable equipment leasing company.
Your Customers WANT to Lease!80% of companies finance some, or all of their equipment
In 2015, 8 out of 10 (78%) businesses used at least one form of financing (equipment leases/loans/working capital) when acquiring equipment. The top vendors in your industry already know; the secret to selling capital equipment is the ability to offer equipment vendor leasing programs and control the financing process. Remember… if you aren’t offering complete equipment vendor leasing options, your competition is!
BENEFITS OF VENDOR EQUIPMENT LEASING PROGRAMS
You might be wondering, “I sell equipment, why should I bother with the financing?” We hear it all the time. The answer is quite simple… vendors offering equipment financing options sell more equipment! Remember, even if customers can afford to pay cash for their equipment, equipment leasing provides obvious advantages. These include tax relief, preservation of credit lines, better cash-flow management, and the ability to stay ahead of the technology curve.
Introduce equipment leasing and financing options early on in the sales process to overcome cost concerns right off the bat. Equipment leasing is a powerful sales tool that will allow you to close more deals, in less time. Control the equipment financing process and you control the sale.
Our vendor equipment leasing and financing programs allow traditional “soft costs” such as installation, freight, training, and licensing to be included in the financed amount. This helps to further reduce initial out-of-pocket costs for your clients.
Private Label Financing
Our private label vendor financing programs allow you to have the look and feel of a captive vendor finance division, without the work. Our marketing department is available to create custom applications and other materials with your company logo and color scheme. Custom online equipment lease calculators and applications are available.
Having a vendor equipment leasing company on your side that knows your industry is important. WB FINANCIAL has experience providing vendor finance programs in nearly every industry imaginable. We know industry terminology and can “talk the talk” with your customers and provide flexible equipment financing options.
Minimal Cash Upfront
Cash will always be king! Your customers have better use for their cash than tying it up in costly equipment purchases. Our vendor financing programs require little money in advance; your customers can enjoy immediate use of the equipment as well as tax benefits at the end of the year.
Rather than selling the total cost of the equipment/project, with a vendor equipment financing program, you are selling a monthly payment that is often far lower than what the equipment will generate in profits. This allows the customer to justify bigger purchases that are paid for over time from the use of the equipment being acquired.
Shorten the Sales Cycle
The old saying is true; time kills deals. Equipment vendors need all the tools available to shorten the sales cycle. Our streamlined application, documentation and funding process gets your customers the equipment they need, and get you (the vendor) paid FAST! We offer same day approvals and documentation.
EQUIPMENT FINANCING AGREEMENTS
Want to finance your next next piece of equipment, but for whatever reason do NOT want an equipment lease? In this case, WB FINANCIAL can approve and document on an EFA (Equipment Finance Agreement). The EFA contract is preferred by some small business owners due to the plain and simple documentation and invoicing. The invoice for the equipment is both “SOLD TO” and “SHIP TO” the end-user, rather than being “SOLD TO” the bank on an equipment lease. Ownership is with the end-user from day one, and there are no end-options to worry about at the end of the term. All warranties, rebates and upgrade options are in the customer’s name.
COMMON VENDOR FINANCING QUESTIONS
A captive equipment financing company is often a subsidiary that provides equipment leasing programs for the parent company. Not only does this require great expertise in the finance field, but also demands an experienced credit and funding department. Our private label vendor leasing programs allow you to offer captive financing and keeps you doing the selling, while our team handles the financing.
No matter where you or your client are located, we have equipment leasing programs to cover their needs. We’ve been financing equipment since the 1970’s and have intimate knowledge of state specific lending and usury laws. We are located in Southern California and finance businesses all across the United States and even into Canada.
Once a vendor leasing program is approved and set up, referral fees are available to the equipment vendor/manufacturer, or to the salesman direct. Contact us to discuss details.
Yes. We have equipment leasing and financing programs in place to accommodate nearly every type of credit condition. In the rare case that a deal cannot be approved, we’ll let you know right away so you can explore other options with the customer. We have lease/finance programs in place for A-D credit profiles, bad credit, new businesses, and even for freelance professionals.