HELPING YOUR VENDORS SUCCEED
Many vendors have difficulty managing cash flow when selling equipment. As a result, many vendors require large deposits whether their customers pay cash or lease.
Here’s a Competitive Problem: Many equipment vendors now demand pre-funding before they will send lease applications to a leasing company. If you want to compete for their business, you will be required to provide payment before equipment is delivered.
Solution: When funding leases through TEAM, your vendors may now get paid 50% of their invoice before they deliver and another 50% when delivered!
Here’s How It Works:
- Send in a completed Vendor Information Form at the time your credit application is submitted.
- TEAM’s staff will verify that the vendor is in good standing and provide vendor approval.
- Your customer is approved for credit.
- Your customer signs the lease & writes a check for the lease deposit.
- We send your vendor a check for 50% of their invoice.
- Your vendor will receive the remaining 50% when the equipment is delivered.
100% Credit Approvals
When banks and other leasing companies decline your customer’s credit request, TEAM has an innovative lease plan designed to approve the credit for every customer. We have actively offered this plan to equipment vendors since 1994. Though it requires a low level of shared risk, it does require the vendor to share in some of the risk with the leasing company for this offer to work.
Here’s How it Works:
- The Customer will be required to invest a larger down payment to qualify, typically 20% or more.
- TEAM will also invest cash into the lease and pay the vendor a negotiated amount of money upfront, but less than 100% of invoice. The vendor will be asked for a dollar amount they will consider receiving up front to complete the transaction. If TEAM and the vendor agree to the dollars paid out, the customer’s lease will be approved and funded.
- The vendor’s balance will be paid monthly + 8% interest as TEAM successfully bills and collects the customers lease payments.
- Typical lease terms range from 12, 24, or 36 months. The vendor’s invoice will be paid, in full, during the life of the lease agreement, as payments are collected by TEAM.