Ok, let’s continue our series on why an equipment financing company is better than the bank. And we’re up to reason #4, which is “compensating balance”. Now what is a compensating balance? Well, it’s nothing more than the bank saying “hey, we loaned you one hundred thousand dollars… the least you can do is have thirty thousand dollars… Read More »
SIMPLICITY! This is reason one of my ten-part series “why an equipment financing company beats the bank if you are looking to finance or lease equipment.” The fact of the matter is this – the simplicity of working with an equipment financing company trumps the painfully thick paperwork file the bank will want you to sort through. C’mon,… Read More »
I know, I know, I harp on Section 179 all the time. I tell you to take advantage of it, or you may miss out. You read that so much here, you must think I’m a broken record (insert joke again about nobody knowing what that will mean in a few years…) But seriously, I say it all… Read More »
Ok, in our little vendor / lender equipment financing relationship series, we’ve come to the final one – captive programs. If you recall, the first three were Referral Programs, Private Label Programs, and Vendor Recourse programs. Also, if you’ve been following along, you’ll also notice they all have an increasing amount of vendor responsibility and risk. A referral… Read More »
I’ve talked before about how offering credit / equipment financing can actually be a form of marketing, and I’d like to return to that today. Because today, with the economy fairly stagnant, offering equipment leases / payment terms might very well set you above your competition. Let me tell you a quick story. When I was a kid,… Read More »