Almost 40% of buyers are upping orders. Sunny forecast: Despite yet another rate increase and continued economic headwinds, small-business equipment finance activity is rising. In our survey of over 6,000 small-business decision makers, only 9% were delaying an equipment purchase because of the economic climate… …While 38% were increasing their equipment appetite for 2023 over […]
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 […]
Vendors have the edge. Where do most small businesses secure equipment financing? Here’s a hint: It’s not their primary bank. The real deal: A recent Sawbux survey of over 5600 small businesses found that those choosing their primary bank are in the minority. By the numbers: Here’s a breakdown by industry segment: Takeaways […]
Here are the facts. Here’s a surprising stat: Application volume for construction equipment under $40,000 is only 7% off all-time highs. App volume is also higher than it was in 2017 and 2019. Why it matters: With all the talk of a looming recession, higher rates, and bank tightening, you might think that demand for […]
The reality: This winter’s dire forecasts haven’t come to pass. Even in the face of rising rates, inflation, and labor problems, the overall economy has remained relatively strong.
The future of POS is DIY. Each month, TimePayment accesses POS industry research to help guide you on making the most of today’s opportunities. This month, we evaluate the increasing desire for self-checkout solutions. By the numbers: In a recent survey* of 2270 QSRs, C-Store, and Independent Grocers we found: 11% acquired this technology for […]
Providing a great experience matters. Here’s a surprising stat: On average, more than half of all former customers responded that they would consider returning to a broker for a subsequent finance need. Yes, but: Less than 20% responded that they go to a broker first. Here’s the reality: Providing a great customer experience is essential […]
There is a wealth of untapped opportunity here. Bigger dealers and manufacturers are not just open to using brokers—the research tells us that most do! And while your share of funding volume may be a smaller percentage, a small percentage of huge volume is still more overall business.
What the latest research tells us… Each month, TimePayment accesses POS industry research to help you make the most of today’s opportunities. This month, we took a look at the increasing desire for pay-at-table POS solutions. By the numbers: In a survey* of 2282 non-fine dining restaurant owners, we found: 29% acquired pay-at-table technology for […]
Vendor sentiment reflects a mixed bag of opportunity for equipment finance brokers amidst economic headlines. By the numbers: 24% of vendors are forecasting a negative impact to their sales based on the current economic indicators. Yes, but: 76% predict no negative impact, with 9% responding that they expect an increase to their upcoming sales. Take […]