What’s your rate? Great question ~ and let’s face it, yields for non-traditional borrowers are indeed higher – and justifiable so. But don’t let a higher cost of capital deter your desire to make big things happen in your industry.
The equipment or capital is what matters most. Most businesses count on new equipment and capital to increase revenues, win more business, generally grow, and improve their financial position. The financial benefits of using the capital / equipment to earn revenue overwhelm the “real dollar” payment difference in an interest rate.
Real value. Once understood, the impact the equipment has on the company helps to highlight that many reasonable financial options assist in obtaining the equipment needed today, while putting you on the road for more competitive financing in the future. Leases and Commercial Loan solutions get behind the numbers and focuses on the story in order to make things work today. It also helps borrowers build a good credit relationship, build their credit tactically with their timely payments, and offers guidance as to sound business decisions that improve their position the next time a finance need arises.
The right funding partner. This partner should have a process that makes the its customers feel comfortable … and important. Your partner should be a trusted resource to get the deal done now, and even more as credit improves ~ with rates that improve.
Cement a relationship. We hope that the loyalty derived from helping in challenging times can create a long term relationship. This is always our goal! As circumstances improve, you can be positioned for more competitive financing.
At SLS, we’ve helped companies succeed with uncomplicated finance programs for decades. While our programs are competitive and flexible, our people really make the difference. We may have Wall Street caliber financial resources … but we’re Main Street kind of people. And maybe that’s why so many businesses trust us time and time again.
If you want to know how to establish or grow a comprehensive business lending program for your company … let’s talk.