Why an online application matters to the funding experience.
With all this digital transformation happening around us, is the equipment financing business behind the curve? Are brokers even more behind the curve? The short answer is “Yes.”
By the numbers: In a recent survey* of over 3,000 equipment sellers:
- 73% would not consider a finance partner unless they had a digital application experience
- 79% rank “digital customer experience” as a top-5 decision criterion when choosing a finance company
What they’re saying: “I don’t understand why buying new mowers requires more paperwork and three times the conversations that buying a $500,000 home does. It also takes longer for the approval—a real one–in some cases.” –Owner of a multilocation landscaping company in the Southeast.
The clear takeaway: If you’re not pursuing and leading with better digital online customer experiences, you’re not going to win as many vendors as you’d like.
We can help. TimePayment helps brokers say “Yes” to more customers, by offering best-in-class equipment lease financing, industry-leading technology, access to API, and superior account service, training, and back-office support. TimePayment has helped over one million customers with transactions from $500 to $1.5MM+, and brokers rely on TimePayment for the speed, convenience, and technology solutions they need to grow.
Get started: It’s fast, easy, and free to sign up. Approved brokers start with lease finance programs like $1 Buyout, Lease-to-Own, Fair Market Value, 90 Day Deferred, and our exclusive TurboLease. Visit our Broker page if you want to learn more or contact us if you want to discuss how we can help your business.
*2022/2023 Sawbux Greenwich Study of Commercial Finance Decision Makers
