Why should I include vendor financing in my business?
One-stop shopping is a great way to attract customers. For businesses who routinely sell expensive, but necessary equipment and services, what better way to improve your business model than to incorporate a financing program.
Let’s be realistic. About how many of your customers can pay for your product up-front, and in cash? Probably not that many. The national average is only 17% for those businesses who pay up-front. That leaves 83% to find other payment options, which makes financing the most reasonable solution.
So here a few reasons why you should use vendor financing:
- Options, options, options: Your clients are not only shopping for your product, but also for a payment solution. A financing service makes this process much easier for them. No one likes to spend time searching for what their options are. Provide it for them, and suddenly your product looks a lot more appealing than your competitor’s.
- Profit: By incorporating a financing program, you are increasing the chances of profit for your company. If customers can get a loan and the product through your company, then you will surely benefit!
- Time is money: An old saying, but so true! Triton Capital can process loan applications within a day, and deliver loans within 2-3 days. Your clients usually need to acquire their equipment and services as soon as possible. We’re sure that a speedy loan process will be very attractive to your customers.
- You’re not alone: The experienced client advocates at Triton Capital are here to help set up your financing program whenever you’re ready. We have the knowledge, loan options, and resources to get your financing program off the ground and running.
So if offering a financing program to your customers sounds like a great fit for you, give us a call today, and one of our client advocates will be happy to assist you in setting up a program.