LeaseQ entered a national partnership with ARF Financial, the only FDIC-compliant financial lender that provides short-term, unsecured business loans and lines of credit for restaurant/hospitality business owners and retailers nationwide.
“We are unique in having our own sales organization, and LeaseQ gives our loan consultants around the country a lease product with instant quotes,” said Steve Glenn, ARF Financial CEO. “Now we are a one stop lender offering additional products to satisfy our customers funding needs for their businesses.”
Innovations in the equipment finance industry will continue to increase flexibility and convenience for customers, according to the Equipment Leasing and Finance Association’s (ELFA) Top 10 Equipment Acquisition Trends for 2017. Automation fuels advances in instant quotes, soft credit pulls, same-day approvals, one-day funding and blockchain for secure, multi-party transactions – many of which are available today through LeaseQ and ARF Financial.
“You can finance a car in an hour, but not a walk-in freezer to start or expand a restaurant,” said Vernon Tirey, co-founder and CEO of LeaseQ. “One-day funding is a trendy thing to say in equipment financing, but when the restauranteur or hotel manager presses the button to get financing, it has to work. We’re advancing our technology and partnering with lenders like ARF Financial who understand the value of automation to make it happen.”
LeaseQ and ARF Financial offer automated, flexible equipment financing for hospitality merchants who are frustrated with the time it takes to get a bank loan, or who cannot get a bank loan at all, including those expanding a facility, upgrading equipment, adding a location and renovating the property as well as managing working capital.
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One Reply to “LeaseQ, ARF Financial Partner to Automate Hospitality Equipment Financing”
How often does a walk in freezer get sold and delivered in one day? The acquisition, financing and delivery for commercial equipment does not need same day contracts. The pursuit of this goal would seem unneeded. Providing same day credit approvals is great, and pretty much in the marketplace today (>$300M). Providing approvals/quotes by a computer in a few minutes will allow the customer and/or dealer/distributor to pursue other cheaper options and possibly increase revenue for the dealer/distributor. Technology is great, its better when it is actually needed.