At Regents Capital, we want to be your top, trusted commercial finance company and partner; not just your provider. This is why we work alongside you to overcome whatever real-life financing hurdles you face when securing capital for your business equipment needs.
We have over 100 years of collective experience in commercial financing and have the expertise to turn your equipment financing realities into results. Our vast experience has allowed us to partner with clients of different sizes across countless industries, and we have established deep expertise in providing financing solutions tailored to their specific needs.
We have compiled 5 questions you should ask your potential commercial finance companies before you decide which is the right choice for your business and your equipment or working capital needs.
1. What is Your History in the Industry?
As you evaluate your financing options, you should consider working with a financing partner who has experience within your industry and the type of equipment your business requires.
What type of challenges have other clients in your industry had, and how has this finance company helped resolve them? Never leave something as important as your business financing to a company that doesn’t have the expertise or history to deliver solutions tailored to your specific needs.
This should be your first question for any potential commercial finance company. Essentially, you are asking why you should trust them with your business’ needs.
2. What is Your Average Loan Size?
Depending on the type of equipment need to acquire or opportunity that arises, your financing needs could potentially be quite large. There are commercial finance companies that specialize in certain financing products and may focus on specific transaction sizes. It is important to work with a lender who has the experience and capacity to provide financing solutions that satisfy your needs and business goals.
3. How Long Does Your Process Take?
Once you understand the company’s history and average loan size, it is important to ask about their timing, speed, and responsiveness. If an opportunity arises that requires a quick turnaround, understanding the full financing process and that your commercial finance company is able to meet your timelines is critical.
If the process matches your needs, then this finance company may be a potential fit; however, it’s important to learn about their customer care as well. Are they quick to respond to inquiries? Are they clear in instructions and structure?
A commercial finance company that provides exceptional customer service and a clear financing process is a good indicator that they may be a solid choice for a future partnership.
4. What Are Your Terms?
Finally, ask about terms, fees, and the application process. Are there any fees that were not mentioned earlier? What are the total costs, the length of the loan, and other variables?
Choose a commercial finance company that is transparent about its fees, process, and term length. Ask about application fees and what they cover, such as processing costs or site inspections. And though it may be tempting to use the lender with the lowest fee, finding a solution with the right terms and flexible structure are important to meeting your business goals.
5. What Makes You the Best Choice for My Commercial Finance Needs?
This final step is to decide between your top choices. What value do they offer, what benefits make them stand apart, and why should you give them your business instead of another commercial finance company?
Make sure they are able to articulate why they are the best choice for your business needs. Otherwise, you can take your financing needs elsewhere.
Contact Regents Capital – Your Trusted Commercial Finance Company!
Contact Regents Capital to see why we are your top choice for all your commercial financing needs. Learn more about our Equipment Line of Credit, Capital Leases for Equipment Lease Financing, True Tax Leases & Commercial Equipment Financing, Equipment Finance Agreements, TRAC Leases, Synthetic Leases, 100% Reimbursements, and Working Capital Loans.