How Equipment Vendors Can Ensure They Are Working With the Right Financial Partner
A good equipment vendor is able to get everything that their customers need, including financing. That’s just part of being smart about doing business today, when vendors are even more responsive to how they can best serve clients but also practice classic sales techniques.
The better vendors and lenders make themselves available around the clock and make sure customers always get exactly what they requested, along with information about new products they might be interested in.
So it’s just good service to try to connect a client with a quality financial partner. Not every customer is going to have all the money up front for all the equipment they need. More often than not, clients will be interested in some type of financing but don’t know how to get started or who to ask.
These factors can be considered:
Establishing short- and long-term partnerships is valuable. Over time, the financial partner you work with will begin to learn more details about you and your customers, while you also start to feel comfortable around them. A new lender may simply not have the history.
Equipment vendors have been around in some form for thousands or year, looking for ways to provide the supplies people want or need, and help them find the funds if needed. Lenders may also have new useful digital tools to help you and your customers keep track of current and past orders, plus details of funding options for customers based on what they want to purchase, lease or borrow.
Prior to approving the financing of a big order, lenders often check a buyer’s credit information. This data may affect their interest rates, loan amounts, or even if the loan happens at all. But sometimes there’s a lag from the credit check to the actual equipment application. But better financial partner, and vendors too, may be able to take the opportunity to learn about any of the client’s credit-related issues before it becomes a problem on the final application.
For more information about equipment financing options, visit Clear Capital Group.