Rate isn’t always the best thing…

I’ve been lending to small businesses for quite a few years now and I’ve heard all kinds of questions about our financing products. How does the end of contract buy out work? What kind of credit do they need to have? What do you require for a down payment? Can I pay this contract off early? When does my vendor get paid? All good questions. I think the most asked recently is “What is my rate?” Also a good question.

As a small private lender in a market that has a lot of regional and national banks, and even though we are very competitive, we are not always the price leader on rates; however we have other ways to compete. I think one of the biggest ways we compete is our speed to market, getting an answer back quickly and offering 100% financing without the usual 20 to 25% down that banks require. Doc’s are sent electronically, and vendor funding is usually in 24 to 48 hours after signing. We auto ACH the payments from your account so you never have to worry “did I send the payment on time” thus avoiding any late fees. Unlike a bank we can include soft costs in the contract amount and have reduced restrictions on collateral. Plus we consider every request regardless of the credit history or deal size.

Two third of our business is repeat and referral because our customers appreciate what we have to offer.

So you see the rate isn’t always the best thing we have to offer.

Call and let us know what equipment or financing you are looking for and let us show you how we can help.