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Resources for Commercial Equipment Financing

By Wes Ross

Buying commercial equipment is not like buying a home or car. When buying commercial equipment, you are investing in your livelihood. Even after finding the equipment you need your only halfway there. You will need financing. Thanks to the internet, this has never been easier. Many Finance and Leasing companies such as Prudential Leasing, Resource Diversified Services (RDS) and others have gone digital to reach out to businesses nationwide.

These companies have given the small business a chance to compete in their industries. What I have found most valuable about this is how much money and time is saved by these companies providing all the information needed to their clients. Here is just an example of one:

• New or Used Equipment - Heavy, Medium, and Light Duty
• Titled or Non-Titled Equipment
• Non-Recourse to the Dealer/Vendor
• Application Only Programs
• Competitive Rates
• Special Finance Programs to people who have had credit programs
• All Business, Medical, Trucking and Construction Equipment
• Owner Operators OK, 2 years experience
• Over the Road OK
• Small Truck fleets OK, no minimum fleet size

I found that there are usually three things you need to start the process to get approved:

1. Credit Application
2. Last 6 months bank statements
3. Complete Spec Sheet with VIN # and mileage.

This breakdown gives consumers a general outline of what is needed in order to get the financing and leasing they need. Finally, I wanted to talk about the importance of communication. I find that most indp ustries have stopped focusing on communicating with their clients. I, along with the businesses I mentioned above believe it is important for clients to have access to their finance partners. Even if you can�t walk up to their front door and ring the bell, companies must provide some form of visual or vocal contact. Being able to talk to someone in person or over the phone makes you feel like a human being and not just number. I think this is one of the most important things in business; to have a direct line of communication with the client.

Where to Start:

I would recommend the following three companies:
RDS Finace and Leasing Inc.
Prudential Leasing Inc.
TruckInfo.net

Wes Ross is a Purchaser for Lehman Brothers Inc. He is the youngest in the company's history to achieve this position. While he is still attending the University of Texas, he does consulting work for Finance and Leasing companies such as Prudential Leasing and RDS Finance.

To learn more about these companies and Wes Ross, please visit http://www.prudentiallease.com or http://www.rdsfinance.com

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