What is Vendor Leasing?
Vendor leasing is a financing option that businesses can offer their customers beyond the typical cash, credit card and term options. With this arrangement, a business partners with a leasing company to form a vendor leasing program. With the program, the leasing company can offer financing for the business transaction directly to the customer. Oftentimes this system is used in the car industry where an outside finance agency is available to provide loans directly to customers, however it is perceived that the financing is a service offered directly from the car dealership.
Vendor leasing not only is an asset to the customers of a business as another payment option, it is an excellent opportunity for a business to increase sales, build credit and get paid faster.
Here's to Small Business Security
“We believe small business is what makes the country go around," states Mike Elton, Vice President of Sales at Advantage Leasing. “Our mission is to help small business owners by providing vendor leasing programs specifically designed for small businesses.” Providing leases to industries from A to Z spanning across the United States, Advantage Leasing’s number one goal is to retain long-term relationships with businesses, manufacturers, franchise companies, distributors and dealers specifically leasing equipment between $5,000 and $200,000.
Companies receive a number of benefits since Advantage Leasing’s capital base allows them to retain transactions in their own portfolio. Each loan is matched with competitive rates and flexibility in the lease structures.
Vendor Leasing Makes Obtaining Financing Easier
“Getting a business loan has become a daunting task,” states Business Credit Services, Incorporated (BCI). Not typically the case with Advantage Leasing. Their vendor leasing programs are intended to diffuse the difficulty of obtaining a loan by offering:
- Same day approval for most small loans.
- Flexibility in the structure of the lease since they are the direct funding source.
- Hometown, personalized service from seasoned credit analysts.
- Loan approval without the primary focus on the credit score.
“A credit score is a lagging indicator,” states a recent article in The Wall Street Journal. At Advantage, they have the flexibility to go beyond the credit score to determine finance viability, such as cash flow, collateral, business potential and vendor payments which are better metrics in determining credit worthiness. This formula works for them since their loan approval ratios are higher than that of traditional creditors.
Your Business's Future to Include Vendor Leasing for Your Customers
Vendor leasing programs are structured to meet the specific needs for all parties involved since Advantage Leasing provides their own financing. Contact Advantage Leasing online for assistance in creating a customized program that best meets the needs of your small business, as well as your customers.
Discover the advantages of using Advantage for your vendor leasing needs today.
Contact us online or call us at 800.949.7040.
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