Vendor financing can be the most simple way to provide your customers with a one-stop-shop process for buying your equipment.
Lets say you have a customer who wants to purchase your product. You’re all set to move them forward with their purchase and contracts, but you know they can’t afford to make the purchase without financing. Your company doesn’t have vendor financing, so the next step is now in the hands of the customer to shop around for financing and weed through all of the paperwork to acquire the financing for your sale. This is essentially making the customer go through another complicated transaction, just to fulfill your simple transaction. This could actually kill your sale and hurt your customers business as well.
This scenario isn’t simply a hypothetical one. We frequently see motivated business owners look to expand and renovate their stores, but get bogged down in the financing side of the transaction and lose motivation. A strong relationship with a lender that you can seamlessly go to, time and time again, to provide financing for your customers will not only help you lock down the sale, but it will also give your customers the piece of mind that they won’t have to deal with a separate lender in the future.
This relationship is simply a referral program that will give you the ability to focus on making more sales of your product, and not on how your customers will get the money for the purchases of your products. At Harbour Capital, we have powerful Vendor Finance relationships, spanning every industry. Give us a call today to learn how we can streamline the financing for your business’s customers.