Think about it… Should you really have to be ‘ ‘guessing ‘˜which business financing equipment company has the right finance lease for you? We don’t think so, that’s for sure, so let’s give you solid info on how to select and work with a great financing partner.
Many business owners and financial managers in Canada simply don’t realize there are well over a 100, if not more finance lease firms in Canada. If you have all the time in world (you don’t – we’re sure of that) you could start at ‘A’ in the yellow pages. Want a better way? First determine why you lease equipment.
Why you lease equpment invariably revolves around the asset type that your firm finances. The equipment finance company you work with, more often than not, specializes in certain asset categories. Also, Canadian business often does not realize that the size of a transaction determines who you work with – simply because your new business financing partner also has its own restrictions on how much it can lease, and to whom.
‘˜Size counts ‘˜… or ‘ Size doesn’t count ‘˜are expressions we hear a lot these days. In Canadian equpment financing when it comes to a finance lease size does count. But it’s not your problem; it’s your equipment company that has that challenge. In Canada the entire leasing industry is broken down into 3 tiers. Those three tiers are small ticket, mid ticket, and… you guessed it ‘ large ticket ‘.
So a bottom line great piece of advice we can give you is simply to ensure that whether you are financing a 2,000$ photocopier or a 20 Million dollar corporate jet you need to focus in on selecting the equipment finance company that specializes in your asset and size category . Right away we’ve saved you tons of time, right?
Do you change your key suppliers every time you purchase something for your business? We certainly don’t think you do that, so surely you can see the benefits of working with a lessor on a long term relationship basis. But getting back to our time management issue how does one do that?
You need to focus in on a partner firm that specializes in the asset sizes and asset types of equipment that you finance. Don’t have time to do this? Your decision just got a lot easier – simply seek out the service of a trusted Canadian business financing advisor who specializes and has experience in equipment company finance lease transactions. That resource can save you time, and even money, as many small nuances in lessor pricing strategies can cost you thousands of dollars if you don’t have the right advice behind you ,
Key attributes of a long term business financing partner are of course listening to you needs, and flexibility in structuring transactions that make sense for you firm. You also have to be flexible of course, as a key part of the lease finance decision revolves around your firm’s credit quality – which determines the pricing and structure of all your equipment financing needs.
In summary, simply focusing on working with an expert in lease finance can save you time and dollars in a large manner – and as we have shown, taking the time to understand how the market is segmented in Canada will also benefit your long term finance strategy when it comes to leasing.
And help is on the way by simply called a trusted, credible and experienced Canadian business financing advisor with a background in what you need to accomplish. That removes your guesswork, don’t you think?