I want to discuss a particular aspect of equipment financing that many businesspeople really don’t understand. And that’s the difference between what I call “straight” financing (like what my company and other lending institutions do), and speculative / investor type financing (like venture capital / TV shows like Shark Tank, etc.) I need to write about this because… Read More »
One thing that many people misunderstand about business lending (and this means banks as well as equipment finance companies) is we do not like high risk. Period. So that said, there’s this myth that lenders will lend businesses money based on a business plan. The myth more or less follows the thought that when you are in the… Read More »
Here’s my second post on financing retail equipment to better help a retailor compete. When we last left my pet supply store friend, he had upgraded all of the shelving fixtures and displays in his stores. Now it was time to venture into the world of cyberspace and perhaps dip his toe into online ordering and similar. This… Read More »
In my position, I talk to many business owners who manufacturer, distribute, or otherwise sell equipment. And most of them are small enough that they really don’t have an in-house financing department. Meaning their B2B customers pay cash (or otherwise arrange their own equipment financing.) Naturally, these companies would like to offer credit. So they look on the… Read More »
My last post talked about how the world has changed in terms of not just how we use credit, but how easy it has become for anyone to offer credit. I used credit card acceptance as an example of a small service (like a local ad agency) giving their customers the ability to pay via credit. Now I… Read More »