What kinds of equipment do businesses finance (and who needs a broker)?
Almost any equipment a business uses to make money — and a broker helps when the business needs the right lender.
The short answer: Almost any equipment a business uses to make money. Per ELFA's industry survey, the five most-financed equipment types are construction equipment, agriculture equipment, trucks and trailers, office machines, and material handling equipment. Businesses finance instead of paying cash so they can put the equipment to work while keeping their capital available for operations.
Look at that list through a business owner's eyes. A contractor finances an excavator because the machine earns revenue on a job site from the first week. A farmer finances a tractor because the season does not wait. A trucking company finances trucks and trailers to take on contracts it has already won. Offices finance their machines, and warehouses finance the forklifts and handling equipment that keep freight moving. In each case the equipment effectively pays for itself out of the work it produces, while a large cash purchase would drain the account the business runs on.
A broker enters the picture when the business needs a lender — and that is more often than it used to be. Banks have been pulling back from small-ticket equipment lending while private credit fills the gap, so a business that walks into one bank may get a no that has nothing to do with whether its deal is fundable. A broker shops the same deal across a directory of lenders, matching the business, the equipment, and the lender's appetite.
That matching work is the job Equipment Finance Broker Mastery trains for, with the lender directory, calculators, and pipeline tools inside the Broker CRM. See the training and tools at www.equipmentfinanceacademy.com — $97 one time at the current launch price (regular $297).