1. Offer your customers Monthly Payments
Business owners think about finances on a month-to-month basis. It can be difficult for a business owner to come up with the cash at once to purchase something, even though they know they need it. How much more equipment could you sell if you could market your equipemnt as a monthly cost, instead of a lump some cost at once?
2. Save Yourself Time
Working with us won’t take you any extra time. In fact, it will save you time because we can handle all of the paperwork for you. We can be involved as little or as much as possible. Also, we can let you know if it is a credit worthy customer earlier, so you know if they are actually worth your time or not.
3. Give Your Customers more Flexibility.
We have flexible terms for your customers including a 90 day no pay program, seasonal payments, working capital, start-up programs, and many more. We can work with you to get your customers to a payment that they need to be able to afford the equipment.
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 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.