The time is ripe to reach out
It’s been difficult to break through and establish new vendor relationships at scale in recent years.
- New banks entering the market with very low capital costs—and boasting new technologies that allow for almost instant approvals—have created strong barriers to entry.
Yes, but: With recent disruption and a retreat of bank credit policies, vendors are more likely to evaluate new customer finance options than any time since 2008.
The clear takeaway: Brokers have a unique opportunity to establish and grow new vendor relationships right now.
- Seeking vendors with unique collateral or who could offer a flow of smaller dollar transactions could also help you differentiate and win.
We can help. As a long-time funder of the broker channel and strong specialty in smaller-ticket transactions, TimePayment offers flexible monthly payment options for equipment needs starting at $500 and reaching $500,000 and beyond. We bring the technology tools to help you win where the opportunities are.
*2023 Sawbux Greenwich Study of Commercial Finance Decision Makers