How Financing Overcomes Price Objections
The hard facts: Equipment prices were already up an average 11% year-over-year across most categories—and that was before the oil and trade shocks of the last three weeks. And when prices rise, so do price objections from buyers. The good news: Sellers who frame their pitches around monthly payments avoid a similar spike in price objections. […]
First-Time Equipment Finance Customers Are an Overlooked Opportunity
Did you know 24% of small businesses have never used equipment financing of any kind? It’s not because they were declined. They simply don’t know financing is an option for businesses like theirs. Why it matters: The customer you educate is the customer you win. Let’s break it down… Many small-business owners assume financing is […]
Small-business demand is great news for brokers
Last week we got some very welcome news from the Equipment Leasing and Finance Association (ELFA), courtesy of Equipment Finance News: Equipment finance demand hits record high in January Total new business volume hit $11.6B New equipment finance demand reached a record high in January as new business volumes posted the strongest monthly dollar total […]
Financing Integrations Cut Cart Abandonment by 29%
Payment options at the point of sale changes buying behavior Want to stop shopping cart abandonment? Show payment options right there! Here’s an eye-opening stat: Equipment sellers who display monthly payment options directly in the shopping cart or checkout process experience 29% lower abandonment rates than those who show only full purchase prices. This is […]
Why Commercial Cleaning Companies Make Good Customers
Today’s big thought: Commercial cleaning companies don’t get the bank financing they deserve. Is this your opportunity to clean up? Let’s get into it: Commercial cleaning and janitorial service companies demonstrate 31% lower default rates than the small-business average. Yes, but: Most banks categorize them as “service businesses” without recognizing the essential, recession-resistant nature of […]
Deals Move Faster When the Process Does
As a broker, you know digital applications are faster. But how much faster? 32%. Our research partner, Sawbux Marketing, found that brokers who use fully digital application processes close equipment financing deals one-third faster than those still relying on paper documentation, faxes, or manual data entry. Why it matters: In a market where speed determines […]
Integrations Turn Browsers Into Buyers
Convert 31% more website visitors with embedded financing Today’s big thought: It’s not enough to offer simply financing. You have to integrate it. The stats bear this out: Equipment vendors with financing applications embedded directly into their product pages convert 31% more website visitors into qualified leads than sellers who mention “Financing available” without an […]
Event Companies Make 73% of Their Equipment Decisions in Q1
You may still have your holiday decorations up, but make no mistake: the purchasing season for the party and event rental industry has already begun. The big stat to know: Event rental companies make 73% of their yearly equipment acquisition decisions between January and April, as they gather inventory for the spring and summer seasons […]
Almost a Quarter of Equipment Applications Are Submitted After 6 PM
Today’s big thought: Did you know 24% of equipment financing applications are submitted between 6 PM and 8 AM? Here’s the reality: Small-business owners don’t have the luxury of handling financing during business hours. They’re serving customers, managing employees, and putting out fires. Equipment financing research happens at kitchen tables after dinner, on phones during […]
Strong Advice for End-of-Year Cheer
Looking to hit your Q4 targets AND rock the festive season? We asked our Third Party Originations team for their top tips for end-of-year success and holiday happiness. See their advice for you below! Remember, we’re here to help till close of business on New Year’s Eve, so it’s never too late to partner with […]