Increase Sales by Offering a Payment Option to Your Clients

Why do business owners get frustrated with the complexity of offering finance programs to their customers?

  • Lots of paperwork
  • Bait and switch lenders
  • Customers being turned down
  • It can take a really long time to get paid

But the advantage of offering payments to customers is a key ingredient to success. With more than 90% of all small business equipment being financed, you HAVE to offer financing. But that doesn’t mean you have to be the expert in it.


Great finance people simply do it all for you. They handle the application, the financial and credit conversations, the documentation and paperwork, offer fast approvals and fast funding. They only win when you win, so they are ultimately motivated to make sure you and your customer are happy.


Consider a simple finance web landing page– yourcompany.com/finance or similar—that introduces your customers to financing. This lets them…

  • Calculate payments
  • Learn about financing and its benefits
  • Begin an application
  • Connect with your finance people

You are notified if a prospect fills out a form and your finance partner can keep you updated on the progress of the opportunity. This allows prospects to get comfortable with the concept of financing at their own pace without a hard sell. All you have to do is tell them you offer competitive financing and simply send them to the web link.


At Lease Genie, we believe in real partnerships and are happy to provide a secure online application branded to your company, at NO charge! We offer vendor finance programs for dealers that keep things downright uncomplicated. Contact us today to learn more.

5 Questions for Small Businesses Seeking Equipment

equipmentAre you a small business?
Are you looking to lease and finance equipment to help your business operate and grow?
Here are 5 questions to ask yourself so you can get started leasing or financing equipment to your strategic advantage:

How will you be using the equipment and how long will your company need it?

Perform a simple cost/benefit analysis by comparing the anticipated costs to the revenue you expect to generate from using the equipment.

Does your equipment finance partner understand your business?

It is beneficial to work with an equipment leasing and finance company that understands your particular market. It is also important for the company to understand your business’s tax and cash flow requirements and be able to set the residual rates. Your equipment financier can also serve as a valued consultant.

Have you calculated your total payments and costs?

Review the number of payments you will owe, the total monthly payment due and any additional costs related to insurance, taxes and other charges. Also, find out if there are costs associated with the lease or finance transaction that may occur during the course of the agreement term, including late payment fees and other surcharges.

Do you understand the terms of your agreement?

Review the provisions of the agreement with your equipment finance company representative. Make sure you understand your company’s liability and consider questions such as:

  • Who will assume the costs for the equipment’s insurance, taxes and maintenance?
  • Who is responsible for installation and maintenance cost?
  • Can you upgrade or add equipment under this agreement?
  • What are your options at the end of the lease agreement?
  • What procedures must you follow if you choose to return the equipment?
  • Are there any extra costs at the end of the agreement?

Close the deal.

Once you have answered key questions and determined that equipment leasing or finance can benefit your company, start enjoying the benefits

Understanding Hard vs. Soft Credit Checks

In today’s world, credit checks (also commonly referred to as “inquiries” or “pulls”) are commonplace, and we don’t always consider the pros and cons of letting lenders look into our reports. Understanding the difference between a hard and soft check can make all the difference.

Hard inquiries remain on your credit report for two years and are a sign that you are actively seeking new credit. While, soft inquiries aren’t visible on your credit report (except to you) and don’t impact your credit score and stem from a variety of causes.

When are Hard Inquiries necessary?

  • Opening an insurance policy
  • Applying for a mortgage, credit card or loan
  • Opening a checking account
  • Joining a credit union
  • Applying for utilities, such as cable, phone, gas or an electric account
  • Renting a car (particularly when you pay with a debit card)

When are Soft Inquiries necessary?

  • When you are pre-approved for a credit card (you typically will receive an offer in the mail)
  • Starting a new cell phone contract
  • Starting a new job (employer credit check)
  • Using a bike share program
  • Applying for an apartment
  • Working with a financial education organization (such as ClearPoint) who may pull your credit to provide personalized advice for you

At the end of the day, credit report pulls are common practice, but they do have an impact. To limit the negative effect of hard inquiries on your credit, try to avoid unnecessary credit accounts and be strategic when you shop for an equipment lease or working capital loan. Next time you’re asked to authorize a credit pull, be sure to ask what type it is, and move forward only if necessary.

To learn more about financing options for your business, contact Lease Genie today.

Survey: Interest Rates Won’t Rise Until September

The Federal Reserve’s long-awaited liftoff on its benchmark interest rate won’t happen until September, according to economists surveyed by Bloomberg News, as officials try to spur inflation and hiring after the economy stumbled in the first quarter.

Policy makers meeting on Tuesday and Wednesday in Washington will assess the impact of a harsh winter and a stronger dollar, which may have helped reduce the pace of economic growth to the lowest in a year, economists said. A hiring slowdown last month is adding to caution inside the Federal Open Market Committee, said Thomas Costerg at Standard Chartered Bank in New York.

“They would like to see more signs of a rebound in the second quarter,” said Costerg, the New York-based senior U.S. economist. “There are some fears that the headwinds from the strong dollar and the drop in oil investment may persist.”

Seventy-three percent of 59 economists said the first rate increase since June 2006 will come in September, according to a Bloomberg survey conducted April 22-24. That’s up from 37 percent in a March survey, when a majority of economists predicted an increase in June or July.

Economic growth may have slowed to a 1 percent annual pace in the first three months of 2015 from 2.2 percent in the prior quarter, according to a separate survey. Among the reasons: a decline in energy-related investments caused by a slump in oil prices. The GDP report will be released at 8:30 a.m. on Wednesday in Washington.

The Fed last month dropped an assurance that it will be “patient” in raising rates. Instead, officials said they want to see further labor-market gains and be “reasonably confident” inflation will move back up toward their 2 percent goal before tightening policy.

Ref. ABFJournal April 28, 2015