When we decided to establish our company in 1991, we were
very sure of at least one thing. Based upon our many years in
the industry, there were few, if any, companies who had the
ability to solve the multitude of different equipment financing
and leasing problems encountered by small, medium and
even large size companies. In other words, one that was able
to provide a wide range of complete, competitive financing
solutions. Solutions for most types of credit profiles and
equipment types characterized by the equipment financing
and leasing needs of these companies
Why Did You Say They Can’t Do Business With Us Anymore?
In the mid-1980's, larger companies such as U.S. Leasing
International, were known as premier “vendor sales-aid”
companies. They developed leasing programs for
companies who sold equipment, like Wang Laboratories and
Kodak, to make it easier for their customers to continually buy
newer and more expensive equipment. At the same time,
they were poor at directly providing those same middle-
market companies with leasing products for equipment other
than technology, word processing or copiers.
They did not feel the need to try and understand the salvage
value of other types of equipment, or the credit profiles of
companies who bought it. Of course they were caught short
when Kodak and others formed their own leasing companies
and business suffered accordingly.
Many banks and subsidiaries that provided business loans,
did an excellent job of lease financing on hard assets like
trucks, tractor-trailers or heavy machinery. Asking them to
consider financing a lease for computer hardware and/or
software was a far different story. They would look at the
salesman and the customer as if they were from Mars, no
matter how long they had been a customer, how well they had
paid existing leases, and how solid their credit was.
The Writing Was Pretty Much On The Wall
As a salesperson or sales manager in these companies, it
was difficult to understand and accept why a company would
turn away good business, especially from existing customers
with solid credit status. At the same time, it was a good thing,
because it forced me to start to think of alternatives to offer to
these types of customers.
A “full service” leasing company would offer these companies
a wide range of alternatives. Different options for different
types of transactions. I felt there was a need for the customer
to truly understand the process of leasing from a tax, financial
and documentation standpoint. In other words, to determine
in advance, what they are legally bound to do as part of this
type of transaction, and all the implications involved, both
good and bad.
What’s Wrong With Telling Truth?
My former employers told me many times to tell our
customers that a lot of the fine points in a leasing transaction
and fine print in the documentation were on a “need to know”
basis. In founding this company, I believed the customers did
“need to know” before they signed the documents. Leasing,
by definition, is after all, a non-cancelable contract.
As a result, in 1997, Equipment Funding Resources
published a number of “how to” books and guides designed
to help a business owner or decision maker obtain the best
leasing terms possible, given their credit profile and
equipment type. In doing so we took a consultative approach
in dealing with our customers and potential clients.
So What’s The Lesson Here?
By deciding to tell the truth about all aspects of a leasing
transaction to customers and prospects, we knew we would
ultimately sacrifice a part of our actual leasing business. This
is because, frankly, leasing is not the best financing
alternative, for every business in every circumstance.
For the long term, we felt it would be the best way to build trust
with the commercial marketplace and therefore build our
business. Some of the those customers we advised against
leasing equipment (from ourselves or others, for a variety of
reasons), ultimately do come back for further advice or to
actually lease equipment from us.
What We Do And How We Do It
First and foremost we are in the information business,
because the world has changed into an information world. If
you view the publications section of the website, you will see
the scope of our “how to” guides and publications. You will
also see what other professionals have had to say about
them.
Once we determine that leasing is the right way to go for the
customer, we determine the best leasing or loan product
option for their particular needs. The process begins with
credit qualification and submission to the lender who best
matches the equipment and credit profile of the customer. W
e have about thirty different lenders we currently work with.
We do this to obtain the best rates and terms possible; given
those qualifying elements very similar to what a mortgage
broker might do on a real estate loan.
The Best Thing About Working With Us
Once we qualify your requirements and determine that
leasing is the best option, we can accommodate a very wide
range of different transaction types. Probably more than any
other company in our industry!
Here are just a few of our recent transactions:
• A $25,000 lease for musical instruments. These
instruments were then rented out by the music store to their
retail customers.
• A $50,000 lease for a mini-mart to upgrade their POS
system and coolers.
• A $ 225,000 lease which was actually the purchase of
equipment and “goodwill” of an existing restaurant.
• A $500,000 “software-only” lease to upgrade the
accounting and billing system for a large non-profit hospital.
• A million-dollar lease for computer hardware, software
and services upgrade for a security company.
If you had told me fifteen years ago that doing this large of
variety of transactions was even possible I would have
laughed out loud. Yet over the years this is the kind of
company into which we have evolved.
We think that evolution is good for us, and good for our
customers. I guess you could call that a “win-win” situation
for all parties concerned. Probably most gratifying is that we
have a very high retention and repeat business ratio with our
clients. Something that is very hard to find in our industry.
very sure of at least one thing. Based upon our many years in
the industry, there were few, if any, companies who had the
ability to solve the multitude of different equipment financing
and leasing problems encountered by small, medium and
even large size companies. In other words, one that was able
to provide a wide range of complete, competitive financing
solutions. Solutions for most types of credit profiles and
equipment types characterized by the equipment financing
and leasing needs of these companies
Why Did You Say They Can’t Do Business With Us Anymore?
In the mid-1980's, larger companies such as U.S. Leasing
International, were known as premier “vendor sales-aid”
companies. They developed leasing programs for
companies who sold equipment, like Wang Laboratories and
Kodak, to make it easier for their customers to continually buy
newer and more expensive equipment. At the same time,
they were poor at directly providing those same middle-
market companies with leasing products for equipment other
than technology, word processing or copiers.
They did not feel the need to try and understand the salvage
value of other types of equipment, or the credit profiles of
companies who bought it. Of course they were caught short
when Kodak and others formed their own leasing companies
and business suffered accordingly.
Many banks and subsidiaries that provided business loans,
did an excellent job of lease financing on hard assets like
trucks, tractor-trailers or heavy machinery. Asking them to
consider financing a lease for computer hardware and/or
software was a far different story. They would look at the
salesman and the customer as if they were from Mars, no
matter how long they had been a customer, how well they had
paid existing leases, and how solid their credit was.
The Writing Was Pretty Much On The Wall
As a salesperson or sales manager in these companies, it
was difficult to understand and accept why a company would
turn away good business, especially from existing customers
with solid credit status. At the same time, it was a good thing,
because it forced me to start to think of alternatives to offer to
these types of customers.
A “full service” leasing company would offer these companies
a wide range of alternatives. Different options for different
types of transactions. I felt there was a need for the customer
to truly understand the process of leasing from a tax, financial
and documentation standpoint. In other words, to determine
in advance, what they are legally bound to do as part of this
type of transaction, and all the implications involved, both
good and bad.
What’s Wrong With Telling Truth?
My former employers told me many times to tell our
customers that a lot of the fine points in a leasing transaction
and fine print in the documentation were on a “need to know”
basis. In founding this company, I believed the customers did
“need to know” before they signed the documents. Leasing,
by definition, is after all, a non-cancelable contract.
As a result, in 1997, Equipment Funding Resources
published a number of “how to” books and guides designed
to help a business owner or decision maker obtain the best
leasing terms possible, given their credit profile and
equipment type. In doing so we took a consultative approach
in dealing with our customers and potential clients.
So What’s The Lesson Here?
By deciding to tell the truth about all aspects of a leasing
transaction to customers and prospects, we knew we would
ultimately sacrifice a part of our actual leasing business. This
is because, frankly, leasing is not the best financing
alternative, for every business in every circumstance.
For the long term, we felt it would be the best way to build trust
with the commercial marketplace and therefore build our
business. Some of the those customers we advised against
leasing equipment (from ourselves or others, for a variety of
reasons), ultimately do come back for further advice or to
actually lease equipment from us.
What We Do And How We Do It
First and foremost we are in the information business,
because the world has changed into an information world. If
you view the publications section of the website, you will see
the scope of our “how to” guides and publications. You will
also see what other professionals have had to say about
them.
Once we determine that leasing is the right way to go for the
customer, we determine the best leasing or loan product
option for their particular needs. The process begins with
credit qualification and submission to the lender who best
matches the equipment and credit profile of the customer. W
e have about thirty different lenders we currently work with.
We do this to obtain the best rates and terms possible; given
those qualifying elements very similar to what a mortgage
broker might do on a real estate loan.
The Best Thing About Working With Us
Once we qualify your requirements and determine that
leasing is the best option, we can accommodate a very wide
range of different transaction types. Probably more than any
other company in our industry!
Here are just a few of our recent transactions:
• A $25,000 lease for musical instruments. These
instruments were then rented out by the music store to their
retail customers.
• A $50,000 lease for a mini-mart to upgrade their POS
system and coolers.
• A $ 225,000 lease which was actually the purchase of
equipment and “goodwill” of an existing restaurant.
• A $500,000 “software-only” lease to upgrade the
accounting and billing system for a large non-profit hospital.
• A million-dollar lease for computer hardware, software
and services upgrade for a security company.
If you had told me fifteen years ago that doing this large of
variety of transactions was even possible I would have
laughed out loud. Yet over the years this is the kind of
company into which we have evolved.
We think that evolution is good for us, and good for our
customers. I guess you could call that a “win-win” situation
for all parties concerned. Probably most gratifying is that we
have a very high retention and repeat business ratio with our
clients. Something that is very hard to find in our industry.
Our Mission
Providing cost effective and creative equipment leasing and financing solutions for middle market companies since 1991. |
| Call Me: 714-928-1592 |
Call Us First! Find out why we enjoy a high retention and repeat business ratio with our clients. |
Equipment Funding Resources
www.equipmentfundingresources.com
www.equipmentfundingresources.com
| About Us |
Equipment Financing & Leasing
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Contact person: Tom Tolman
Phone: 714-928-1592 Fax: 714-834-0327
E-mail: tom_tolman@yahoo.com
Site: http//www.equipmentfundingresources.com
Phone: 714-928-1592 Fax: 714-834-0327
E-mail: tom_tolman@yahoo.com
Site: http//www.equipmentfundingresources.com
© 2007 Equipment Funding Resources