One of the most misunderstood aspects of business lending, including both banks and equipment finance companies, is the perception of risk. Contrary to popular belief, lenders do not favor high risk. So, let’s debunk a common myth around this topic. Business Plans Are Not a Silver Bullet There’s a myth that lenders will lend businesses money based solely… 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 »
One thing that I really like about the internet is how easy it makes doing business (and offering equipment financing). Allow me a quick story to demonstrate this: Years and years ago, a friend of mine started an advertising business. Basically, he wanted to be a “small town ad agency” helping Mom and Pop businesses advertise. And… Read More »