Global Financial & Leasing Services (GFLS) partners with vendors to offer their customers equipment financing in the following industries:
- Healthcare/Medical
- Restaurant and food service equipment financing
- Construction
- Machinery/Manufacturing
- Forestry/Logging
- Automotive
- Printing
Why Do Capital-Rich Companies Finance Equipment Purchases or Leases?
There are many reasons. Financing equipment purchases or leases often is a part of a forward-looking, strategic financial plan. Keeping a large amount of cash on hand is attractive to banks and investors, plus dramatically increases the odds a company will survive an unexpected event, like a pandemic, natural disaster, etc.
The question arises, “If a company is in an attractive financial position, why don’t they seek traditional bank financing?” The answer is simple: big banks require a lot of application paperwork and can take weeks or months to decide whether they are approving or rejecting the loan. Companies don’t have that kind of time to waste, especially if they win a project, find a super deal on equipment or need to act quickly for any other reason. Not to mention, bank financing is just another added step. Vendor financing streamlines the process and can even remove any barriers your customers might have in the purchase or lease decision.
Financing an equipment purchase or lease comes with numerous benefits compared to making a large outlay of cash. And, by partnering with GFLS for vendor financing, your customers can:
- Finance eligible equipment costs, with any down payment, advance payment or security deposit determined by the approved program
- Keep their working capital to fund other business objectives, such as expansion or increasing their workforce
- Discuss potential tax treatment with their tax adviser; eligibility depends on the financing structure and business circumstances
- Generate revenue with the equipment they finance
- Request review of eligible related costs, such as sales tax, delivery and installation, subject to the approved program
- Build their Business Credit profile
LEARN MORE: How Venders are Becoming an Attractive Source of Equipment Financing
What About Companies with Less-Than-Perfect Credit or Little Cash on Hand?
For these types of businesses, having the ability to finance the lease or purchase of the equipment they need can make or break the company. While they are not big banks’ target customers, they can be your customers when you partner with GFLS, which ultimately grows your sales numbers.
GFLS reviews the business story alongside credit history, cash flow and the equipment being financed. Available programs and funding-partner criteria determine which requests can be considered. We work to move complete submissions forward promptly; decision and funding times vary with documentation, transaction complexity and the financing source.
With the Right Partner, Vendor Financing is a Win-Win
Your customers are going to finance their equipment purchases and leases. Rather than lose out on sales opportunities to competitors who do offer vendor financing, partner with GFLS and bring your financing in house or offer financing to your customers who aren’t or won’t be approved through traditional means.
Together, we can provide essential equipment, quick credit decisions and convenience with a streamlined application process. In the end, you’ll be providing a better customer experience for all, resulting in more sales and higher customer retention rates when it’s time to buy new or upgrade.
Bottom line: if anyone questions whether companies are interested in vendor financing, yes, Virginia, they really are.
Submit an Equipment Vendor application today. If you have questions, contact our team for answers.
