Gone are the days where customers opt to purchase products and equipment in an outright fashion. Businesses selling equipment and assets without finance options could be majorly hindering sales and customer satisfaction. That being said, vendor finance is becoming a game changer for businesses of all sizes.
If you are a business owner that is not yet up to speed with the top reasons for adopting finance options for your customers, here are the top non-negotiables to look for in a finance broker.
Lightning Fast Settlements
We all know cash flow is the single most important cog in the business wheel. Seeing that lack of cash flow is one of the top reasons why businesses fail, it’s extremely important to keep this flowing. A vendor finance that offers faster settlements is a vital way for businesses to keep payments coming in.
Choose someone who offers an extensive panel of lenders
Choosing a vendor finance broker that has access to a large selection of lenders will be far more competitive and in turn put the power of choice back in your hands. When brokers are not aligned to one particular bank they will work more like an agent for their customer, rather than a sales rep for a bank. This is a significant advantage to the vendor and will always ensure they are offered extremely competitive pricing.
Reduced amounts of paperwork
We all know there is nothing that holds a sale back quite like a 150 page contract. You might as well just show the customer out right away. Choosing a broker that provides a simple, easy to understand contract, with minimal effort required in completion and signing will help you close far more sales in half the amount of time. If the broker is able to supply the documents in a digital format they will be an innovator and a business worth aligning yourself to.
Will they give you sales training?
Yes, you read that correctly. Will your finance broker give you and your teams specialised sales training to help you get more deals across the line? At Loanezi it would be our pleasure to help guide and assist your teams. We are experts in the finance lending industry and we can help your sales teams to sign more deals.
Ensure your customers will still be your customers
A broker’s role should be to offer competitive finance options and act as a sweetener to your business. They should not hold a relationship with your customers that you lose transparency to. A good finance broker will compliment your business and sales process and always ensure you are in control of the client relationship.
If you are interested in offering your customers quality finance options that improve their satisfaction and your cash flow get in contact with Loanezi today.