Equipment Financing

May 21, 2024

Why Financing Equipment Makes Sense for Business Owners, Even with Higher Interest Rates

In the current economic climate, interest rates have risen to levels we haven’t seen in years. Current prime rate is 8.50% which is what lenders use to set rates for loans, credit cards and lines of credit. Prime rates are usually 3% above the federal funds rate which is at […]
October 27, 2023

6 Key Benefits of Using an Equipment Finance Broker Over a Commercial Bank

When it comes to acquiring essential equipment for your business, you have options. While many companies turn to their commercial banks for financing, working with an equipment finance broker offers a host of advantages that can make the process smoother and more cost-effective. Here are six big benefits to consider: […]
September 5, 2023

Key Reasons a Business Owner Would Not Want to Finance Equipment

While equipment financing can offer numerous benefits, there are situations where a business owner might prefer to pay cash for equipment acquisition. Here are a few key reasons: Cost Savings: Paying with cash avoids interest charges and fees associated with financing. If the business has the necessary capital readily available, […]
June 16, 2023

How does the current prime interest rate of 8.25% in the United States affect commercial lending rates?

Commercial lending rates are influenced by various factors, including the prime rate, which is the interest rate that banks charge their most creditworthy customers. When the prime rate changes, it can have a ripple effect on other interest rates, including commercial lending rates. In general, when the prime interest rate […]
May 24, 2023

11 Tips for Customer Success

Keep your customers engaged An occasional email, text or phone call to check in with a customer helps to keep your business in their thoughts.   Be honest with customer expectations. If a customer need is not a product or service you offer, let them know right away. Even better […]
May 11, 2023

HOW DOES A FINANCE BROKER ADD MORE VALUE THAN WORKING WITH YOUR BANK

An equipment finance broker can add more value than working directly with your bank in several ways:   Access to multiple lenders: A broker typically has relationships with multiple lenders, including banks, credit unions, and specialized finance companies. This gives them access to a broader range of financing options compared […]
May 2, 2023

5 Questions to Ask Yourself when Working with a Lender

5 Questions to Ask Yourself when Working with a Lender 1) Will it cost me money to apply? NEVER. Some finance companies charge $150, $250 or more to submit an application. It will never cost you a penny to apply with us and remember, we only Soft Pull credit so […]
April 18, 2023

6 Suggestions for Productive Office Behavior

Just plain old common-sense guidelines and good practices for productive office etiquette. by Lester Salvatierra 1) “Put details in an email…”, exactly what it means, don’t ramble specific details to a co-worker; express strategies and opinions in person but other stuff should be put in an email for future reference. […]
April 7, 2023

Business Owners Have No Time to Waste

As business owners, we cannot waste time on activities that give us little benefit. We must focus on our clear profit producers, get the key things done and finish so we can relax down time without stressing over what we couldn’t get done. Here are some action items that may […]