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Why You Should Partner with GLFS for Vendor Financing

by Business AdviceFinancing

Partnering with GLFS for vendor financing can benefit your business in many ways.

First, having an in-house vendor financing program can open up more buying opportunities for clients and expand your client base. With in-house financing by GLFS, more potential buyers will be able to afford more and better equipment, and buyers who don’t qualify for traditional loans will not be excluded from your customer base. This will improve your bottom line by increasing order sizes and accepting more potential clients.

An in-house vendor financing program with GLFS also gives you more control over how your buyers’ purchases are financed. Our team will work with your company to create a program that works for you. With your best interest and preferences in mind, we will design a financing program with terms that work for everyone.

Finally, a vendor financing program can be a deciding sales factor when faced with a comparable offer from another vendor. If your company can streamline the process of obtaining financing for equipment sales, then the buyer will most likely choose your offer to save time and get the equipment they need faster.

Submit an Equipment Vendor application today. If you have questions, contact our team for answers.

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8 Creative Ways to Attract and Hire Employees During a Labor Shortage

by Business Advice

As the world opens back up again, many small and medium-sized businesses have encountered unexpected difficulty finding employees to fill their open positions. This labor shortage is hitting nearly all businesses, especially those in the hospitality, service/retail, and transportation industries.

As businesses scramble to find workers, many of them are using creative ways to bring in prospective candidates, such as new-hire bonuses and even incentives for interviewing. However, at GLFS, we know that attracting and hiring employees requires more than just offering temporary perks, it’s about connecting with employees and creating an attractive work environment. The following suggestions will help you stay competitive in today’s labor market while expanding your pool of good potential candidates.

  1. Connect with Your CommunityIf you find that you aren’t having much luck on digital hiring platforms like social media, LinkedIn and Indeed, then you should look in to ways to directly connect with your community to find potential employees. Local job fairs, state job boards and educational institutions can provide businesses with slews of eager qualified applicants.

    One of the best ways to find new potential hires is by partnering with vocational training programs. Suppose that you own a car service center and need to hire entry-level oil technicians. If you partner with a community college’s mechanic certification program, then you can hire its students as entry-level technicians to give them on-the-job training. In some specific technical fields, employers are offering to pay for or reimburse vocational training.

  1. Make a Competitive OfferAlthough your business may not have the deep pockets of larger corporations, you still need to compete with them for the best and most qualified candidates. Therefore, you need to ensure that your compensation meets or exceeds the average for the position that you need to fill.

    Sift through job listings for similar positions and determine the range of pay. Then, adjust your pay to meet or exceed the average for these positions. In this competitive labor market, you need to be willing to pay for quality candidates to join your team. If you cannot offer competitive salaries, then add attractive benefits to fill that pay gap.

    READ MORE: How to Attract Qualified Operators to Make the Most of Your Financed Equipment

  1. Expand BenefitsEven if your pay is competitive, some employees may choose another company over yours because it offers better benefits. Expanding the benefits that your company offers is thus another effective strategy to recruit highly qualified employees.

    Most employees, however, view core benefits like 401(k)s and health insurance as givens, so you may need to get creative with the types of benefits that you offer. These new benefits should be meaningful and go beyond coffee bars and ping pong tables in the break room. Gym membership reimbursements, pet insurance, student loan assistance and flexible work hours are just a few examples of non-traditional benefits that you can use to attract potential candidates.

    LEARN MORE: SBA Sets Opening Date for Restaurant Revitalization Fund

  1. Improve on the Job TrainingAnother way to expand your hiring pool is to open opportunities to less-experienced candidates by offering on-the-job training. By focusing less on initial qualifications and more on general skills and willingness to learn, you can find talented employees who you can train for specific roles within your company.

    These types of opportunities are most appealing to recent graduates and people looking to make a career change. A worker looking to leave the service industry and join your sales team, for example, may not have a lot of formal experience, but with their customer service background and the right training, they can excel as a salesperson.

  1. Offer Paid InternshipsCreating a paid internship program can offer students and recent graduates experience while providing your company with much-needed help. Hiring an intern for accounting, for instance, will allow that department to delegate simple tasks like data entry, allowing full-time employees to focus on more advanced work.

    To establish an internship program, you can partner with local colleges and universities that allow students to intern for college credit. Many of these organizations will help you make your internships meaningful learning opportunities while providing you with a steady stream of interns.

  1. Modernize Management StrategiesAltering your management strategies to meet the needs of modern employees is one of the best ways to attract and retain new hires. Most modern employees desire a culture of openness and respect, and many of them enjoy having a degree of influence over their schedule. Online reviews of employers make it easy for an applicant to determine whether your business is one at which they’d like to work.

    Modern managers should therefore be adaptable, understanding and transparent to foster a positive working environment. Coaching instead of telling, explaining rationales for decisions and being understanding of your employees’ personal and professional needs will make your company an attractive place to work.

  1. Outsource TasksCompanies can also combat a labor shortage by outsourcing tasks and projects to freelancers and other organizations. For instance, many businesses hire outside companies to handle tasks like deliveries. These types of activities can be labor-intensive and expensive to manage, so outsourcing them allows you to focus on the core elements of your business while reducing your hiring burden. Finding partners who understand your business and can assist you with various services is a great way to reduce your workload.

    Likewise, you may want to employ freelancers for temporary projects like logo redesigns or website updates. Unless you need someone to manage the project in-house at all times, it is easier and more cost-efficient to temporarily hire a freelancer to complete a short-term project.

  1. Focus on RetentionAlthough your business may be focused on hiring new employees, you should never lose sight of the ones that you already have. Losing current employees can exacerbate issues with short staffing and hurt company morale, which can lead to more attrition.

    Your staffing efforts should also include outreach to current employees to determine what they like and dislike about their working environment. This will illuminate ways that you can improve working conditions to retain as many employees as possible. You should also be sure that any benefits extended to new hires are also available for current employees.

 

What Types of Small Business Loans are Available?

by Business Advice

In March, we wrote about 2021’s top trends in equipment financing. To make the long story short, this year brings much to boost business owners’ confidence now and continuing throughout the year. As the economy shows signs of rebounding, small business owners are ramping back up and/or investing in equipment to meet growing demand. This is especially true in for medical, construction and manufacturing equipment.

Despite growing confidence, the lesson learned over the past year is still fresh in everyone’s mind. You really never know what can happen, so keeping a healthy amount of cash reserves on hand can mean the difference in your business surviving a downturn.

With a desire to invest in equipment and the need to keep sufficient cash reserves, business owners are taking a closer look at the financing options available today. There are several small business loan types, such as:

  • Bank loans
  • SBA (Small Business Association) loans
  • Working capital loans
  • Sale/Leaseback of equipment

Loans are never a one-size-fits-all proposition. Each type of small business loan is different, ranging from those best for start-ups, those with less-than-perfect credit and those who need short-term financing to financing equipment leases.

Bank Loans

Historically low interest rates can make a bank loan sound like an excellent way to fund your business or an equipment purchase. If you qualify for a bank loan, you might score a lower interest rate than you would with any other type of loan. 

This loan type may be perfect for you if:

  • Your business is in an industry in which the bank is comfortable working
  • You have a history of excellent credit
  • You make a hefty down payment
  • You have time to wait as you jump through application hoops and wait for approval
  • You’re comfortable with a bank lien on your other assets

Of course, these conditions aren’t ideal for many business owners. And, sometimes, business owners don’t meet the bank’s requirements. 

SBA Loans for Small Businesses

The Small Business Administration is a federal organization that serves as a resource for small business owners. One of the biggest benefits offered by the SBA is its low-cost, government-backed loan programs.

The SBA works with lenders like banks and nonprofits. A portion of the loans offered by the lenders are backed by the SBA, which translates to lower rates and better (and longer) terms for borrowers. For example, current interest rates for SBA loans in May 2021 being:

  • 5.50% – 9.75% for SBA 7(a) loans
  • Approximately 2.91% – 3.76% for SBA CDC/504 loans
  • 3.75% for for-profit businesses and 2.75% for nonprofit businesses for EIDL loans for COVID relief
  • 0% if forgiven; 1% if not forgiven for PPP loans
  • 4.00% with no credit available elsewhere, or 8.00% with credit available elsewhere for other SBA disaster loans

Similar to bank loans, they require mountains of paperwork, usually involving business plans and multi-year projections. SBA loans are good options for business owners with a strong credit profile who are growing or expanding business, gaining working capital or refinancing debt.

Tempting, right? However, the entire process can last months and the majority of applications are denied due to bad credit, character issues, lacking collateral, insufficient revenue or capital to repay and inability to repay due to other outstanding loan payments.

Working Capital Loans

Investopedia defines a working capital loan as a loan that is taken to finance a company’s everyday operations. These loans are not used to buy long-term assets or investments and are, instead, used to provide the working capital that covers a company’s short-term operational needs.

While they can be a low- or medium- cost loan type, also they can be a very high-cost way to finance a small business. If you have good credit and profitability, loan rates are more reasonable. If you have credit blemishes or business losses, loan rates run much higher.

Sale/Leaseback of Equipment

If you’re familiar with how home equity loans work, then a sale/leaseback of equipment is the equivalent in the business world. This type of loan is an option if you own equipment assets like trucks, machinery or construction equipment.

The equipment is sold or leased, but retained for business use. Because the transaction is secured by the equipment, this loan type is relatively easy to qualify for, and it can be structured so that:

  • You own the equipment at the end of the term
  • All payments are tax-deductible
  • Terms range from 24-60 months

What’s the Best Loan Type for Your Small Business?

Every business is unique, and there are small business loans that are best suit different situations. The advantage of working with Global Financial & Leasing Services (GFLS) is that as a direct funder, we can offer funding opportunities that a typical bank cannot. And, under certain circumstances, we can use our connections to numerous banks and institutions to provide our customers with the best financing solution that is available for their credit profile. In the end, our clients not only get the right financing for their needs, but also access to the funds faster.

READ MORE: GFLS Steps Up When Big Banks Don’t

Unlike big bank applications, our process is simple and streamlined so you have a decision often in 24 hours or less. Talk to one of our equipment lease financing experts at 480.478.7400 or start your application today.

SBA sets opening date for Restaurant Revitalization Fund. Here’s when you can apply.

by Company NewsIndustry News
Andy Medici

The Small Business Administration is officially opening its much-anticipated Restaurant Revitalization Fund to applications on May 3, the agency said in a Tuesday announcement.

The agency said it will allow businesses to register ahead of time, starting April 30, and once the portal opens, it will remain open until the $28.6 billion in program funds are exhausted. The program provides restaurants and other eligible businesses with grants of up to $10 million and must be used on eligible expenses by March 11, 2023. We covered those details here.

“Restaurants are the core of our neighborhoods and propel economic activity on main streets across the nation,” said SBA Administrator Isabella Guzman in a press release. “They are among the businesses hardest hit and need support to survive this pandemic. We want restaurants to know that help is here.”

Businesses can register to start the application process here beginning April 30.

The SBA recommends that eligible businesses set themselves up for a smooth experience by reviewing the official guidance, gathering the required documentation and attending one in a series of live webinars to be held in the days preceding the official opening. One webinar is available on Tuesday and two are available on Wednesday.

The SBA also recently announced that restaurants will be able to access their applications and the data they need to fill out their applications through service providers including Clover, NCR Corp., Square and Toast as part of what it called a “groundbreaking collaboration” to help deliver the relief funds.

The funding, however, likely will only last “a matter of weeks” according to Sean Kennedy, executive vice president for public affairs at the National Restaurant Association.

“We know from webinars we’ve hosted and discussions with our state partners that demand and need are still very high, and with this level of preparation, we believe that it’s very likely the $28.6 billion fund will be gone in a matter of weeks, possibly only a few,” Kennedy said in a statement. “We expect that day one numbers will be through the roof. We will continue to work with SBA and our members to ensure the application process goes smoothly, even as we’re alerting Congress to our concerns about the limits of the current funds.”

He stressed that the SBA has been focused on getting the application process up quickly and done right and is doing everything it can to educate restaurants on how to apply.

But even when the portal opens, the agency will prioritize applications from businesses owned by women, veterans, and socially and economically disadvantaged people for the first 21 days.

The rollout of the Restaurant Revitalization Fund marks the latest step for a lineup of pandemic-relief programs and efforts by the SBA. The SBA recently created a way for small businesses to appeal denials from its Targeted EIDL Advance program, which we wrote about here. The agency also has rolled out a supplemental grant for the hardest-hit businesses.

The agency additionally has said it was more than tripling the maximum size of its Economic Injury Disaster Loans from six months’ worth of economic injury — or up to a maximum of $150,000 — to 24 months of economic injury with a maximum loan amount of $500,000. But it is also working to increase that new limit up to the $2 million statutory limit.

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This the Time to Tackle Continuity Planning for Your Business

by Business AdviceStartups

Here’s What COVID-19 has Taught Us

If this past year has taught us anything, it’s the importance of continuity planning for businesses.

COVID-19 caught everyone off-guard, including most business owners. They weren’t prepared for freight slowdowns, sick employees and limited office capacities. Many scrambled to adjust during the early days of the pandemic, and some experienced their businesses going under.

The pandemic served as a wake-up call for many business owners about the importance of developing a Business Continuity Plan (BCP). A solid BCP can help you navigate your course while enduring pandemics, natural disasters or other serious disruptions.

If you or your company’s leadership team is in the process of developing a BCP in the wake of COVID-19, consider the following key elements to ensure that you are ready for nearly anything.

Maintaining Essential Business Functions

The primary purpose of a BCP is to identify and determine how to maintain the core functions of your business. For instance, if you manufacture goods, then keeping your assembly line running will be your top concern during a crisis, and you may not be as concerned with issues like marketing.

You must take care to determine which departments and functions must be prioritized if your work is disrupted, and you must plan to keep those areas afloat. With COVID, you had to ensure that all essential employees knew their duties and had proper protective equipment while giving non-essential ones the equipment that they needed to work from home. Likewise, if a natural disaster hit, you would need to prioritize maintaining or rebuilding the core parts of your business over less essential ones.

Keeping Your Customers Happy

If disaster strikes, you will also need to be prepared to communicate with your customers about how it has impacted your business. For this, you should collaborate with your sales and/or marketing team to prepare a message that is honest and effective to maintain customer loyalty and satisfaction.

Your communication plan should always prioritize honesty and integrity. If a freak winter storm has disrupted your freight and delayed orders, then you need to tell customers that directly, and you must provide realistic timelines for fulfillment. One way to smooth over any disappointments is to offer discounts or other future benefits to clients who choose to weather the storm with you. 

Your customers make your business, and in any BCP, you must have a plan to keep them satisfied, even when your business is struggling.

Maintaining Your Financial Health

Finally, your BCP should outline how your business plans to address losses from a crisis. Some of these actions may be as simple as expanding your emergency fund, but other issues, like protecting your credit, may be more difficult.

You must create financial contingency plans that maintain the primary functions of your business while cutting costs. This may involve furloughing non-essential employees, selling assets or working with your creditors on payments.

READ MORE: What You Should and Shouldn’t Do If You Can’t Make Your Equipment Lease Payment

At its core, your BCP should consist of preventive and emergency measures to take in case of emergency without hurting your customer base or credit score. Part of building a good financial BCP is working with trusted partners like Global Financial & Leasing Services (GLFS). To learn more about how we assist businesses during trying times, contact us.

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What are the Benefits of Equipment Leasing?

by Benefits of LeasingBusiness Advice

5 Reasons to Consider Leasing or Financing Equipment Now

Our team at Global Financing & Leasing Services (GFLS) is seeing light at the end of the tunnel. Not only are we hearing our customers’ stories of confidence thanks to increased business volume, but also, we’re seeing it in the numbers. Certainly, the pandemic has affected small and mid-sized businesses across a spectrum of industries. It’s these exact organizations that’ve been hit hardest and have more difficulty securing financing, especially if they fall on the lower tier of credit ratings.

The economy is preparing for a post-pandemic upswing. When lenders, like GFLS, step up to provide equipment financing, businesses have a strong chance of rising like phoenixes from the ashes. GFLS was founded during the Great Recession to support businesses who aren’t well served by big banks. We have a history of successful lending, access to capital and commitment to our mantra: “When other lenders say no, we often say yes.”

If you’re debating whether this is the right time to finance or purchase equipment for your company, consider these five benefits of equipment leasing.

  1. Upgrading your equipment is more affordable with financing.

    It’s understandable that business owners want to have the latest and greatest equipment and for good reason. State-of-the-art machines and technology can increase employee satisfaction while cutting labor costs, and they can cut other expenses bill, too, with green technology, improved efficiency, fewer repairs and down time, and increased productivity.

    Remember, keeping up with new developments can quickly become expensive if you buy outright, depleting your working capital. That’s where leasing and financing comes in handy. When you don’t have to pay the full cost of new equipment, you can afford the best new products, while keeping a healthy amount of cash on hand.

    READ MORE: 2021’s Top Trends in Equipment Financing

  1. Financing keeps your working capital at a stable level.

    When you make a large purchase up-front, your bank account will take a major hit. This means less money for other endeavors, and if your business experiences a downturn for whatever reason, then you’ll have less cash in your rainy-day fund.

    Paying for your equipment over time helps you keep more of your liquid funds available for other uses. Whether you need to make multiple purchases or your company hits a snag, having cash on hand offers more flexibility and potentially avert making tough financial calls.

    READ MORE: Why Your Business Should Keep Cash Reserves

  1. You can open up other credit lines.

    Financing a purchase can help you keep your business’s other lines of credit open. Many companies, especially in their early stages, will use all types of credit for necessary expenditures. These credit lines could include business loans, personal loans, or even credit cards. Therefore, business owners need to be careful to use their credit wisely and make purchases that will benefit them in the long term.

    When you use leasing or financing specifically for an equipment purchase, you aren’t cutting into these other lines of credit. You can then use those other lines of credit for other expenses that arise as your business grows since your equipment financing is separate.

  1. You can take advantage of tax benefits.

    When you lease or finance equipment, you can take advantage of a surprising number of tax benefits. While you should always consult an accountant and tax attorney to ensure you will benefit. Generally, you can expect to write off part of your monthly payments if you lease or finance a purchase.

    If you finance, all of your interest payments will be tax-deductible as a business expense. You can write off the full cost of your payments if you lease your equipment, and you can also choose to write off the full cost of the equipment in a given tax year. This can come in handy during tax season when you want to maximize your savings.

  1. Applying for equipment financing is surprisingly easy.

    Another factor that keeps business owners from leasing or financing equipment can be the misconception that applying for credit is tedious. However, while big banks may force you to jump through hoops to get a loan, equipment financing lenders make getting approved far simpler.

    At GLFS, for instance, we aim to keep our application process as quick and painless as possible. We take a look at your business’s overall financial picture, and we respond as soon as possible (often in 24 hours or less) with solutions that meet your company’s needs.

If you’d like to learn more about the benefits of financing your next equipment purchase, contact us.

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2021’s Top Trends in Equipment Financing

by Industry News

10 Trends to Watch

Our world changed dramatically over the past year with many working from home, social distancing and video conferencing as a result of COVID-19.

Fortunately, the vaccine has brought about hope for a return to normal, and as restrictions lift, the economy is set to rebound. This year will be a crucial one for many business owners, especially those making decisions regarding financing equipment.

At Global Financial & Leasing Services (GLFS), we stay on top of the latest trends in equipment financing to better serve our customers, helping them not only obtain financing for equipment purchases, but also being a source of valuable industry information. These are the top 10 trends to keep an eye on as you consider equipment financing in 2021.

  1. 2021 is still unpredictable.

In 2020, we learned just how quickly the world could change as COVID-19 drastically altered business operations and consumer habits. Things are looking up in 2021, but there is still uncertainty about virus variants.

Whether we can return to some sense of normalcy will depend on vaccine rollouts, which have been ramped up, but are still inconsistent. Other impacts of the pandemic — such as volatility in the stock market, small business losses and potential inflation — still linger as well. Successful business owners in 2021 will need to expect the unexpected and prepare accordingly.

LEARN MORE: Love in the Time of COVID-19

  1. The political landscape is changing.

The transition of power to President Biden could impact business decisions in various ways. Congress and the Biden Administration will likely increase regulation — especially in the realm of environmental policy. Taxes may increase as well.

On the state level, governors are under increased pressure to close budget gaps, which may also result in increased business or consumer taxes. States may also adjust their consumer financing laws to address issues that result from post-pandemic growth.

  1. Expect more growth in the second half of the year.

The first half of 2021 still looks relatively bleak for some industries. COVID-related restrictions and low consumer spending have extended the economic impacts of the virus.

However, this trend is expected to subside as more people become vaccinated and more restrictions are lifted. In the latter half of 2021, economists expect GDP growth to pick up to nearly 5% as the country returns to normal. Smart businesses will prepare for an uptick in consumer spending by the end of the year.

  1. Increased demand from China will boost U.S. businesses.

China is one of the few major countries whose economies weathered the pandemic relatively well. Barring an increase in tensions between the U.S. and China, demand for U.S. products should increase as China’s consumer spending rebounds.

This uptick in demand will help propel U.S. manufacturers and the economy forward. Manufacturing businesses should prepare for this demand accordingly, especially when it comes to shipping.

  1. Consumer habits will evolve post-pandemic.

As the government lifts pandemic restrictions, workplaces will return to some sense of normalcy. More employees will return to offices, and increased consumer spending will allow businesses to boost hiring and production.

The technology upgrades, lessened business travel and reduced need for commercial space that began during the pandemic are also likely to continue in a different fashion. Many workplaces intend to use a hybrid model that allows some employees to work from home full- or part-time, and they will continue to use videoconferencing solutions instead of traveling for business trips. Most businesses will therefore look for services that offer bundled, personalized packages that meet their needs.

  1. Medical, construction and manufacturing equipment will be in high demand.

Demand for certain types of equipment is expected to grow as COVID-19 subsides. Medical equipment, for instance, is already showing growth as vaccine rollouts intensify, and once hospitals can resume more elective procedures, this sector is expected to explode. Likewise, demand for manufacturing equipment is set to increase as consumer spending bounces back.

Some types of equipment, including construction equipment, have been on the rise throughout the pandemic. More people are building or renovating homes, driving up demand for construction. Additionally, as workplaces convert their commercial space, construction equipment will remain on the rise.

  1. Smart technology will continue to grow.

Many companies, including equipment finance lenders, have begun to increasingly rely on smart technology to do business. This trend is only expected to continue through 2021.

Electronic transactions with lenders, such as e-signatures, will likely continue to expand. Even without the need for social distancing, these kinds of contactless purchases can often be more convenient for lenders and businesses. Lenders will keep growing their e-commerce capabilities to streamline operations and improve client relations.

  1. Cybersecurity will be essential.

The pandemic forced us to move many of our transactions and interactions online. This has enhanced the need for heightened cybersecurity measures to keep our data safe.

Many companies will need to invest in IT infrastructure to enhance their cybersecurity capabilities. Good security protocol provides peace of mind for customers and employees, making it an essential investment for most businesses.

  1. Many businesses are poised to make major purchases.

Although 2021 is still uncertain, companies are becoming more confident, and many are looking to make smart investments. Some plan to invest in software to boost their remote capabilities while others are ramping up for post-pandemic economic growth.

Overall, business investment is expected to grow by nearly 8% this year thanks to this uptick in spending. Smart business owners will think ahead and stay ahead of the curve by making important investments early on.

  1. More companies will acquire equipment through financing.

Most businesses took a financial hit during the pandemic, causing them to realize the importance of keeping cash on hand for emergencies. The Federal Reserve has also lowered interest rates, allowing companies to borrow money more easily. Therefore, more businesses will likely choose to finance their equipment purchases in 2021.

READ MORE: Why Your Business Should Keep Cash Reserves

If your company plans to finance equipment this year, be sure to look for a trusted partner like GLFS. Contact us to learn more about what to expect in 2021 and how we can help your business prepare for the year ahead.

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Global Leasing & Financial Services Steps Up When Big Banks Don’t

by Business AdviceFinancing

When Other Lenders Say No, We Often Say Yes

In the wake of the pandemic and other market disruptions, business owners are understandably struggling with uncertainty, especially when it comes to financing large equipment purchases.

Financing equipment through big banks can always be rather challenging for businesses. However, in recent times, banks are taking fewer risks, meaning there less money out there to fund financing. Even companies with perfect credit scores struggle through the approval process, and those with blemishes on their credit reports are at an even greater disadvantage.

That’s why smaller lending firms like Global Financial & Leasing Services (GLFS) step up to help small businesses. Since 2009, GLFS has set out to provide small and mid-sized companies with the financing they need to make essential equipment purchases. Unlike big banks, GLFS looks beyond your and your company’s credit score to find a financing solution that works for you.

Why We Started GLFS

GLFS was founded to provide equipment financing alternatives to major banks. Historically, obtaining credit from large financial institutions is tedious and time-consuming. Banks often require large amounts of paperwork to kick off the application process, and decisions can take weeks, if not months. Plus, business owners waste precious time waiting for an approval that may never come.

We started GLFS as a way to make financing more accessible for small and medium-sized businesses with varying credit scores. At GLFS, we look at your business’s full financial picture to make decisions, and small blips or a short credit history doesn’t necessarily mean a rejection. We also aim to provide answers and options quickly, usually in 24 hours or less, eliminating long and frustrating waiting periods.

GLFS is in business to help other businesses by offering flexible solutions for equipment financing across a variety of industries, and we aim to work with you individually to find a finance or lease agreement that meets your unique needs and goals.

The proof is in the numbers. Some of our recent closings include:

  • A medical services company financed a $400,000 MRI imaging system
  • A healthcare company financed a $100,0000 used hyperbaric chamber
  • A logging company financed a $40,000 excavator
  • A general contractor financed a $28,000 Ford F350 truck
  • A construction company financed a $270,000 Vermeer Drill
  • A construction company financed a $30,000 tele handler
  • A construction company financed a $45,000 new Chevy Silverado truck
  • A trucking company financed a $29,000 2012 Freightliner

Is GLFS is a Better Financing Option for Your Business Equipment?

Many small and medium-sized businesses prefer GLFS to traditional banks due to our easy application process, holistic decision-making and personalized approach to lending.

GLFS’s credit application process is designed to be as streamlined as possible, while giving us a holistic picture of your business and needs. We understand that time is always in short supply when running a business, so we designed our application to take up as little of your time as possible.

GLFS gives a more personalized approach to equipment financing. We work with our partners to find lending agreements that will help you reach your goals, and that means providing support during hard times. Contact us to learn more about how we can help your business.

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Major Computer Breach – Your Organization May Be a Victim

by Company News

BE ALERT: SCAMMERS IMPERSONATING A BUSINESS NAME SIMILAR TO GFLS TO GAIN APPLICANTS’ PRIVATE DATA

It’s been brought to our attention that scammers are using a similar business name to ours, Global Financial & Leasing Services (GFLS), in an advertising phishing scam. Consumers, thinking they are submitting bank account and social security numbers to us, are in fact sending this sensitive information to hackers.

GFLS management became aware of this scam when “applicants” began calling our office for status updates. We asked those who got further along in the scammer’s “process” to send us their communications with the alleged cybercriminal. GFLS’s founder and CEO, Jim Jenks, is in touch with the Federal Bureau of Investigation (FBI) and Better Business Bureau (BBB) to determine next steps. We have reported the phishing scam to the FBI’s Internet Crime Complaint Center.

Unfortunately, consumers falling victim to phishing schemes that falsely invoke reputable company names is more common than one might think. Be assured that we are doing everything we can to stop this scammer, protect consumers and the reputation we’ve worked hard to earn as a leading provider of equipment financing across a range of credit tiers.

AN IMPORTANT REMINDER: Legitimate businesses, like GFLS, WILL never solicit sensitive personal information through insecure channels like email or text messages.

What Can You Do to Protect Yourself Against Phishing Scams?

Forward phishing communications. We suggest that affected consumers forward any phishing emails impersonating GFLS to the Anti Phishing Working Group, a public-private partnership against cybercrime. You also can file a complaint with the FTC. (This applies to any suspect communication, not only GFLS.)

Visit IdentityTheft.gov if you believe you’re a victim. If you believe you may be a victim of identity theft because of a phishing scam impersonating our or another business, visit www.IdentityTheft.gov where you can report and recover from identity theft.

Stay current on best practices to protect your identity. The Federal Trade Commission’s (FTC) website has helpful and current tips for computer security practices. You’ll find the latest recommendations on how to protect yourself online and avoid phishing attacks.

Always be on alert. Across the board, personal data security isn’t a one-time action. Always be alert. Be suspicious. Consistently change passwords, logins, etc. Cyberthreats, like phishing scams, are constantly evolving,  and so must your actions to protect yourself.

Fraud Instructions

by Company News

If any of you receive any more calls regarding the fraud being perpetrated utilizing Chuck Dale’s name the Global Financial please refer the victims to the Federal Trade Commission and case #12-8848661. Lance Drummond, one of the victims who has reached out to us has filed a complaint with both the FTC and the FBI but only has a reference number for the FTC.

Unfortunately, there is nothing we can do about it as they are using Chuck’s name and a phony Global email address so it is not going through or server/network and thus we have no way of stopping or by-passing the fraud.

Contact us if you have any questions.