What Headwinds? Equipment Buyers Are Feeling Breezy

Equipment buyers are feeling breezy. 40% of buyers are upping orders.

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 their original plans in January.

The big picture: This spring led to a “wait and see” mindset among many businesses. But with consumers still actively spending, businesses still investing, and the Fed possibly taking a “soft landing” approach, equipment finance and equipment buying activity is rising.

By the numbers: Here’s how major industry sector data on equipment buying intent has changed since January:
    • Manufacturing +4%
    • Transportation +3%
    • Construction +22%
    • Traditional IT +7%
    • Office Technology +4%
    • Ag/Forestry/Landscaping +19%
    • Restaurant +8%

Takeaways for brokers:
  1. The end of 2023 could see a flurry of equipment buying, when the normal seasonal increase combines with pent-up demand from those businesses who have been waiting to see how the economy might impact them.
  2. Though credit is still far tighter, equipment needs will still require funding—opening the door for brokers and creative capital providers to fill the gap.
TimePayment can help. When you have a lender that can reach more customers for a wider range of equipment and investment sizes in a climate like this, you position yourself to win.
    • With flexible monthly payment options for equipment needs starting at $500 and reaching $500,000 and beyond, you can trust our innovative technology tools and creative capital 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. *2023 Sawbux Greenwich Study of Commercial Finance Decision Makers
Skip to content