Top Ten Questions to Ask a Financial Provider, Part Two

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Get These Questions Answered Before Signing a Contract

As promised, Scott Lynch, Direct Capital’s Vice President of Client Services, will be breaking down questions 5-10 that you should be asking your financial provider. By the end of this blog, you should have a good idea of what to expect from your provider – and what to look out for!

5. Are you a direct lender or a broker?

This is important because you need to understand where the underwritings are being done, what the motivation of the financial company is, and what their true goal is for your customers. Is it to get them the best program they can, or to maximize their commissions? Here at Direct Capital, we underwrite the majority of the business internally – about 95%. There are specialized programs that we work with outside for certain scenarios, but we can guarantee about 95% of our business is approved and underwritten right here in-house.

6. How fast will my customer be approved?

Speed is key in any business. Sometimes you really just don’t have time to wait – and we understand that. Speed allows you to move your transaction forward, providing your customer with financing quickly when the time comes for them to purchase the equipment. Direct Capital has worked on a scorecard program that will allow you to get approved instantly. In fact, 50% of our approvals do happen instantly. But, at the end of the day, 50% of our approvals will also happen within two to four hours. Our team here works every day to try and get you faster approvals.

7. Do you have programs for startups or compromised credits?

Offering financing to your customers helps you capture more sales opportunities. We work hard at Direct Capital to provide programs for these types of credit scenarios. The fact is, most businesses will need financing and we understand that. That’s why we make it our goal to try and provide it to as many businesses we possibly can. Startups and compromised credits are something we’re confident we handle well.

8-10. How long have you been in business?

Who have you worked with in the past?

Do you offer marketing support?

These three questions are more to ease your mind. A company with a good history and background should instill confidence that you’ve made the right choice. Direct Capital has been in business for more than 20 years. And in those years we’ve worked with some household names in the industry. In addition, we do offer great marketing support and have a phenomenal marketing presence in the marketplace. People tend to understand that when Direct Capital sends a marketing piece or when we market with a vendor, we get results and have for a long time.

For more information on who we are and what we do, visit our website today – and thanks for stopping by our blog!