By having the right equipment, you can significantly increase your sales, your scope and the services you’re able to offer customers. The equipment you use also reflects your organization and the sense of quality and professionalism you provide, which can attract more new customers to your business. It’s also more sustainable than purchasing equipment outright, as rapidly evolving technology could considerably devalue your investment in a matter of just a few years.
Equipment leasing terms can be quite flexible, with most running between 24 and 60 months. You also have buyout options and can add equipment to your lease at any time, simply adding to your monthly payments without having to readjust your lease terms.
Equipment Lines of Credit
How many times have businesses missed out on purchasing the perfect equipment because financing was not in place? Banks move at their own pace. Vendors sell to the first customer ready to provide funds. You sit around waiting for answers while the equipment you need sits in a warehouse, or worse, in the hands of your competition.
Our equipment lines of credit eliminate the approval process, expediting the purchase of necessary equipment for our clients. Simply set up an equipment line of a credit and you’re on your way. Every time you find that perfect equipment, send us an invoice and we’ll immediately send funds to the vendor. The equipment is earning a return for your business while your competition is still waiting to hear back from their bank.
If you’re in the business of selling large pieces of equipment or technology to businesses, you know that closing a sale with cash is often a tough sell. Often, customers don’t want to go through the hassle of applying for a bank loan, and no business likes laying out a large amount of cash for a purchase that pays for itself over time. That’s where vendor leasing programs come in.
Vendor leasing programs or vendor financing programs make it easier for you to close sales by letting you offer a monthly payment price rather than a lump sum. There’s a reason car dealers promote monthly car payments rather than full cash amounts – as consumers, we think of our finances on a monthly basis, not cost over the life of the purchase. Since equipment and technology are used over time, it only makes sense to pay for the product as its being used.
Here’s how it works. First, your company partners with Northwood Capital Group. We create a button for your website that will let your customers apply for financing online or figure their estimated payment instantly. Your customer applies for financing, we respond within one business day (sometimes even the same day), and you close your sale! Your company gets a check for the purchase price up front, and your customer makes payment to us.