A vendor equipment finance program provides equipment vendors finance options (loan and lease) for a customer's purchase of equipment. A vendor program helps make the vendor's equipment more affordable to a customer by offering payment plans that fit within a customer's budget and financial needs.
An equipment vendor partners with a bank and/or a manufacturer captive lender to offer lending options for a customer's purchase of equipment. The lending options can be in the form of a loan or a lease.
It's one stop shopping - buy the equipment from the vendor, and use the lender offered by the vendor to finance the purchase.
The vendor financing program should offer a loan or lease product, competitive rates, flexible payment programs, vendor incentives, e-docs, wire funding and a personal representative to assist vendors with each transaction.
If you're interested in a vendor financing program, choose an experienced banking partner to learn more about program set up and sales staff training.
