5 Tips for Choosing a Finance Company

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Don’t Settle: Do Your Research Before You Commit

What do you do when you need new equipment, software, technology, or a remodel for your business, but you don’t have the cash on hand?  You look to a lender. It might seem simple at first, but choosing a lender can be tough. You have to know what to look for.

Direct Capital’s Vice President of Client Services breaks down the lender choosing process and gives you five tips to help ensure you get it right!

How to: Choose the Right Lender

  1. Research the Lender: You probably do research every day – especially before making a big purchase. With a lender, it’s no different. You want to research the company: Find out who they are, how long they’ve been in business, what type of businesses they loan to, and what type of options are available to you. And don’t forget to check online reviews – both from customers and employees.
  2. Compare Companies: Don’t just settle on the first one you see. Look at multiple companies and see what they can offer. What are their term options? How long can you finance for? What is their niche market? Do they specialize in one specific area? If you’re looking for a one-stop-shop you can evaluate the types of products and services these companies offer and see how they will benefit your business. And if you’re not getting what you need online? Call them!
  3. Research Their Track Record: You want to know how legitimate these companies are. Find out if they are nationally recognized or on the Inc. 500 list. Most importantly, you want to ensure they have a successful track record with financing and are well regarded in a number of different industries. Something else to keep in mind is whether they want to partner with your business long-term.
  4. Find the Right Loan: You can determine the financing option that’s right for you by evaluating two things. First, what are your needs? If the equipment you’re financing will take a while to get set up, you may want to go with a deferred loan. Second, get a good grip on how long the equipment will last. If you need to upgrade every few years, that’s something you want to keep on a shorter term, generally 2-3 years.
  5. Customer Service: When you choose a company, you shouldn’t be treated like you’re just another dollar in someone’s pocket. It shouldn’t be about one transaction – it must be about building a relationship. If you don’t get that feeling, move on.

Why Choose Direct Capital as Your Finance Company

At Direct Capital, we can finance a wide range of products and equipment for your business – from hard assets to technology. You aren’t limited when you come to us. We were also recognized two years in a row on the Inc. 5000 list.

Our customers keep coming back because they know we care about them. We can provide the financing you need and treat you the way you should be treated as a business owner. To show our customer satisfaction ratings, we use something called a net promoter score. A net promoter score is how likely you are to promote the company you’re working with. Our score right now is a 62 (compare that to Apple’s score of 69 and it’s pretty good!), especially since most of our competitors are in the low 40s.

Want to see what others had to say about Direct Capital? Check out our Google Reviews!

We know you’re busy which is why we provide fast, flexible financing you can count on. For more information on Direct Capital or our financing process, visit our website today!