For anyone paying attention to the market

Good news this morning...

http://money.cnn.com/2011/03/17/markets/markets_newyork/index.htm

Common Sense Tips For Quick Lease Funding

• Make sure the writing on the application is completely legible, as this application gets faxed multiple times to funding sources - clean precise writing in dark ink helps to keep the integrity of the application intact.

• Make sure that the social security number is included, and written clearly.

• Make sure that the application is signed by ALL owners of the company. This is an important one, for any partnership split less than 90/10 % - we need the signature and consent of all owners to move forward with the deal.

• Make sure that the address on the application for the business IS the address where the equipment will be delivered / installed. Any last minute changes or differences are red flags to lenders, and WILL hold the deal up.

• If you are a vendor, make sure to prepare the transaction invoice and have it ready for submission with the application.

• Have at the ready 3 months of business bank statements, this isn't always required - but lenders are trending lately to require these statements. FYI Lenders do not accept online printouts, they only accept the original paper statements.

• And just a simple common sense reminder, when the lender makes requests it is best to fill those requests in a timely manner – which will keep the lease moving... We don't want your deal to get stuck in the mud. We want to get you what you need ASAP, and these tips should help you do that.

Answer to the common question:

How does the leasing process work? Let me walk you through it step by step ...

1. You or your clients complete the one page application (downloadable from www.leasewithcrystal.com)
2. Submit the fully completed application to me via fax or email (contact information below)
3. I package the application, ask for any additional information that the lender might need and submit to my network of active lenders
4. An approval is handed down within 24 hours
5. Once we have the approval we draw up the loan documents
6. I email the loan documents to you - once signed we ship them overnight to the lender
7. Once the lender has received the executed paperwork, equipment can be delivered
8. Lastly, the lender verifies the equipment delivery, and the deal is funded and the vendor is paid in full

Yes, it CAN be that EASY!

A great article

I loved this article in the Wall Street Journal - it talks to small business owners (not at them) - and has some great tips.

Here is the link:

http://online.wsj.com/article/SB122256833525883041.html?mod=googlenews_wsj

Happy Reading.

A Recent Study Shows........................

A recent study revealed in the last week by Wells Fargo Small Business Administration, shows that nearly half of small businesses are completely putting off large purchases for fear of money problems. The effect is felt widespread across the industry, like an earthquake. And SMALL BUSINESSES are getting hurt, they can't stay competitive, and they certainly can't gain an edge in their marketplace.

Sure, Equipment Leasing can help them - it is designed to keep cash-flow liquid. But, there may be other genius solutions sitting under their noses as well.

That's why many recommend a mid-year business check up, so to speak. Call in a professional business analyst, explain your situation, turn over your balance sheets and P&L's - and see what remedies they have in mind. More often than not some small tweaks, can make some big differences to your bottom line.

How to find a trustworthy business professional to make a "house call" at your business? Try looking through a peer-based professional referral site; like www.guru.com ... Guru.com is almost like an "Angie's List" of the business world. Instead of rating contractors and the like, they rate business consultants, accountants, analysts etc. I have found many incredible professionals using this web site, and have used it as a secret weapon in building my team.

Chamber of Commerce..... ?

Question to all the business owners out there.

Is the Chamber of Commerce in your city, a resource you utilize?

I have conflicting reports from all my different clients, and wanted to do a sort of informal poll.

Vendors, Clients, Approvals - OH MY!

What is so special about the Vendor/Leasing Company relationship?

As a business, the vendor needs to make SALES. That is their mindset, that is their ultimate goal, that should be their ONLY concern. How many deals can we close in ONE month.

What can help you close more deals? Having a solid financing company that partners with you to complete the sale - makes all the difference in the world.

The vendor can worry about selling their product, and the finance company can worry about the rest.

The right kind of symbiotic relationship can absolutely increase sales for any size business.

Things that a good finance partner should be able to do for you (the vendor):

• Take incredibly good care of your clients, make them feel coddled and handheld during the funding process
• Shop around for terrific rates, make sure there aren't hidden fees folded into the mix
• A good finance company will be able to get all kinds of deals approved, not just A credit
• For that matter, ask your leasing agent what percentage of deals get approvals? If it is below 75%, I would be worried...

In a nutshell, you want a financial services company that will become your partner in making/closing/ and FUNDING the transaction. So you can worry about selling MORE of your products, and know that all of the background noise etc. will be taken care of. And the good clients you have that need financing, will be taken care of professionally, swiftly, and fairly.

Now go Sell!