3 in 4 companies might be interested in financing
Here’s a surprising stat: In a survey of over 500 waste and recycling companies, we discovered they were 72% more likely to finance equipment through a source that was not their deposit bank than they were in 2017.
What’s new: Smaller waste and recycling companies are finding more growth opportunities as costs increase with large regional and national providers.
- Yes, but: Bank credit tightening might leave them without the capital to fuel growth—especially when traditional lending limits collateral values for many of the industry’s mission critical assets.
Zoom in: Here are the waste and recycling assets least favored by banks right now:
- Containers
- Roll-Off Containers
- Balers
- Dumpsters
- Conveyors
- Compactors
Takeaway for brokers: Only 6% of the brokers in our ongoing survey efforts have a dedicated strategy to finance smaller waste and recycling companies. In a time when the waste industry needs capital outside of their bank relationships to fuel growth, this seems like a missed opportunity.
TimePayment can help. We have long history of serving the waste and recycling sector, and we specialize in financing for equipment needs starting at $500 and reaching $500,000 and beyond.
- Plus, you can trust our flexible finance solutions to make direct origination easier and keep customers coming back.
Take action: To discuss a vendor opportunity, reach out today. Or sign up now to get started.
*2024 Sawbux Greenwich Study of Commercial Finance Decision Makers
