Signs point to a strong Q4. We can help.
Here’s some welcome news: In a recent survey of over 5,000 equipment buyers, 58% were planning to make an equipment purchase in the next 90 days.
Why it matters: “Higher for longer” rates, bank credit tightening, and other economic headwinds have inspired a lot of pessimism.
- Yes, but: The reality is this: The capex outlook for small businesses is approaching some of the highest numbers we’ve seen in the last decade.
Look closer: In addition to the 58% already planning on making a purchase…
- 38% of buyers are planning to increase capex spending over last year.
- 59% report they were holding off on capex in the first half of 2024 because of high rates and tight bank credit…can’t delay any longer.
- 65% will seek financing options outside their primary bank relationship first.
- 42% will not even pursue financing with their primary bank relationship.
The takeaway for brokers and equipment dealers: The last few months of 2024 represent a great opportunity for brokers and equipment sellers, as pent-up capex demand unwinds and as SMBs increasingly look beyond banks for financing solutions.
TimePayment can help. With financing for equipment needs starting at just $500 and reaching $500,000 and beyond, plus a long history of serving the broker channel, you can trust TimePayment to help you make the most of Q4.
To discuss a vendor opportunity or sign up, click below.
