When beginning a business, capital is needed. Many do not have the means to purchase their own equipment or technology. Another way to expand your financing business is to finance resources including office equipment and IT systems. What are the benefits of leasing equipment through financing?
1) Helps Prevent Equipment Dumping – For most businesses, after some time, they want to update their furniture and technology or move to other premises. The question is what to do with all the old stock? Dumping is a major problem in Australian landfills. Recycling is the most environmentally friendly solution but is a timely and costly process. If your company leases furniture, you could eliminate the troubles for your client to remove the old furniture by renting the most up-to-date technology too.
2) Provides Your Client with Easy Consultation – By being a vendor and equipment financer, you make it easier for your client to only have to speak with you regarding both their wealth and resource capital. This will save your client a lot of time and money, which will benefit them.
3) Makes Your Company Stand Out – By providing equipment finance as well as vendor finance, you can have an advantage over other plain vendor financers in the industry. Also, small businesses might not go straight to the banks for a loan if your financing company offers both vendor office equipment finance.
As small businesses continue to borrow, this is a great time to expand your client base to these businesses and really think about offering equipment and technology financing to enhance your company’s services.