May 24, 2012
The Equipment Leasing and Finance Association (ELFA), Washington, D.C., has launched a new resource to help equipment manufacturers and vendors provide financing to their customers. The Manufacturer & Vendor Resource Center, online at www.elfaonline.org/resources/MVRC/, is a starting point for manufacturers to learn the benefits and options available for financing the sale of their equipment.
Manufacturers and vendors offer financing to support the sale of their products for numerous reasons. Establishing a finance capability can help a manufacturer increase sales revenue, gain market share, and improve its customer relationships, the company reports. The online resource presents the strategic, legal, financial, and operational issues that manufacturers should consider when seeking to develop or enhance their finance capability.
The site reviews three financing models: developing financing capabilities in-house, creating a formal partnership with one or more finance sources, and creating an informal partnership with multiple finance sources. An outline of operations, sales, risk management, and regulatory issues is included.
Site visitors can search ELFA's vendor finance company database to identify potential financing partners and connect with ELFA members.
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