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 for large corporations or businesses with perfect credit, so they don’t even explore the option.
- Instead, they rely on cash (straining their resources), use credit cards (an expensive and limiting option), or simply hold off on buying the equipment they need (and risk falling behind).
What brokers need to know…and do:
- Start with education, and nurture relationships from there. Offering financing education through trade association networking, vendor partnerships, and content marketing all introduce new prospects to their financing options—and your expertise.
- Start small. A positive, small first deal is better than a big-ticket deal that sours the customer on the financing experience. (Helping customers finance equipment that can boost their monthly earnings immediately is ideal.)
- Gratitude creates loyalty. Customers who feel a broker “unlocked” financing they didn’t know existed often become loyal repeat customers. They credit you with enabling their business growth.
The broker bottom line: The easiest customers to win are the ones your competitors never see.
- Position yourself as an educator who helps business owners understand equipment financing options, and you’ll capture customers before they ever enter the competitive market.
- TimePayment can help. Funding deals as low as $500, with an industry-leading credit bandwidth and instant approvals on qualified deals under $25K, we make your first-time financing customers feel welcome. Reach out to our Third Party Originations team today.
Source: Proprietary 2025 Sawbux Marketing survey