If your business sells valuable assets like equipment or machinery B2B, high price points can be a roadblock for your customers. Not having the cash to hand may mean the difference between a sale and a “Thanks but No Thanks.”
Offering vendor finance can open the lid on more B2B asset sales for your business.
Vendor finance: Benefits for your business
Offering vendor finance gives you the opportunity to:
- Manage your sales cycle – retain your customer for the life of the finance period and ensure repeat business
- Provide tools to assist with customer engagement
- Convert more opportunities to sales by providing greater flexibility for your customers
- Recognise revenue on tangible assets at the time of sale
- Remove risk from your balance sheet
- Manage upgrades and customer engagement throughout the finance period
Vendor Finance: Customer benefits
With the help of vendor finance, your customers will:
- Access the equipment they need while conserving cash reserves
- Have the option to finance 100% of the cost of the product they purchase
- Have easier budgeting through fixed monthly payments
- Be able to bundle transactions (equipment and soft costs*)
- Ensure the technology they use remains current and best-in-market
- Have potential accounting and tax advantages
* Soft cost financing is reviewed on a transactional basis
To make things easier for you and your customers, Bigstone Finance offers vendor finance solutions. This empowers your business to offer fast and accessible finance options, creating a win/win for all involved.
Vendor finance for asset purchases: How it works
If you’re selling an asset worth more than $10,000, once you are set up with Bigstone Finance, you have the option to connect your B2B clients with a vendor finance option.
Once your customers have approval (they will need to have been in operation for at least two years, plus meet some other criteria), the funds will arrive directly in your account. Your customer can choose the finance type, terms and optional residual amount based on the type of asset they have purchased.
The Bigstone difference
When you offer vendor finance through Bigstone, we work with you to develop a program that suits your business and your customers. We can establish a model that can bundles hard and soft costs, providing customers with an attractive monthly cost rather than the barrier of a larger upfront payment.
- Keep your customers engaged with you
- Get paid up-front and manage your cash flow.
Our friendly expert customer service team help you efficiently process all vendor on-boarding and loan applications with a low-touch, consistent strategy.
The solution we develop for you will include unparalleled training for your sales team, which involves:
- Upskilling them in the simple, three-step pre-approval process
- Helping them understand why your business offers finance to customers
- Demonstrating how to sell finance options that keep your customers coming back
Our support staff can guide applicants through the application process, answer your queries on quotes and packages, and support you and your customer through every step.
We will also co-develop and contribute to your tender process – packaging finance as an effective sales solution. In addition, we’ll show you and your team how to determine the best finance offering to include in tender pitches for major new partnerships.
Make purchasing easier for your clients with a comprehensive vendor finance solution from Bigstone Finance.
Contact Bigstone Finance to find out more about equipment loan, equipment rental and finance lease options to suit your customers’ needs.