A LITTLE MATH & SCIENCE CAN YIELD DIVIDENDS
Remember the Pythagorean Theorem or the Law of Quadratic Reciprocity?
We don’t either, at least not much. These days we’re focused on formulas for success for businesses. And we have one that’s proven to give you the ability to acquire more customers, close more sales and put more money in your bank account.
We’re talking about Speed+Time=Money, which is really a refinement of Benjamin Franklin’s borrowed dictum that “Time is Money.” By enlisting the services of an equipment leasing company like North Star Leasing, you can make that formula pay off.
Here’s how it works:
A commercial customer walks into your showroom and really, really needs to buy a piece of equipment. They get a price quote, do some quick math in their head, and say, “I need some time to think about it.” Which is totally fair. We get it. But every minute they spend thinking about how they’re going to pay for that piece of equipment is a minute you’re not closing the sale. And every minute they don’t have that new piece of equipment is time they’re not growing their business, either. Speed up that process of weighing the costs and benefits of the purchase easier by offering that potential customer an option for financing. That helps them make the decision quicker, closes the deal within days, and GETS YOU PAID
If you consider our online application, electronic document submission, and straightforward approval/decline criteria, we have in place an efficient and streamlined process. The net result is that makes it easy for your customer to know quickly if they qualify for financing (we even refer to this as “pre-qualification”), how much they qualify for (we always aim to approve for more than the quoted price), and what their monthly payment will be. We have flexible, customized financing options for your customers, even those who don’t have perfect credit to ensure we do everything we can to get them the money needed to buy from you. Quickly.
Armed with the knowledge of what the transaction will cost them, the turnaround time from when the customer looked at the equipment to when they put it in their place of business can be literally days. That allows you to move on to other customers and close more deals. Time also means this: When North Star Leasing funds the deal, you – the vendor – get paid first. There is no waiting for the check to clear.
Here’s where you can make our money work for you. We can finance practically any equipment deal you and a customer devise. We have the capital: A year ago, People’s United Bank upsized our Revolving Credit Facility to $80 million. In December of 2020 alone, we funded more than $10 million in equipment deals. We’re currently No. 119 on the Monitor Daily+ ranking of equipment financing companies, meaning we’re big enough to run with the big dogs but right-sized to be customer-first and nimble enough to work out funding deals in non-traditional ways.
Speed+Time=Money isn’t rocket science. Make it work for you.
For those who are visual learners, check out this video that explains how North Star Leasing incorporates this FORMULA FOR SUCCESS into our process.