Are Your Prospects and Customers Not Asking for Financing? Blog Feature


By: GreatAmerica on December 18th, 2020

Are Your Prospects and Customers Not Asking for Financing?

One Sales Rep’s Advice on Introducing the Monthly Payment Option

Two of the most common misconceptions in the technology space are:

  1. Your customers don’t currently finance their equipment.
  2. If your customers don’t ask for financing, they don’t need it.

The truth of the matter is, by making those assumptions; you may be hanging your customer out to dry by forcing them to figure out how to pay for your solution on their own. Instead, we urge you to add value by offering a monthly payment before a customer asks for it (or maybe doesn’t ask for it).

In this blog, we offer a proven strategy and share best practices we’ve learned in the many years we’ve worked with technology companies just like you.

Don’t Wait for Them to Ask, Introduce the Monthly Payment as Part of Your Process

We often hear customers say they had not considered financing an option simply because it was not offered. With project delays due to financial constraints, there are still solutions you can present to encourage customers to move forward with their IT projects, including proactively offering the monthly payment option.

80% of companies in the United States utilize financing within their businesses. Consider today’s consumption trends: many services and products guide you to a monthly payment option. Spotify, the iPhone, and Netflix are just a few examples. Rather than commit to a large, upfront expense, these service providers offer everything up on a convenient, affordable monthly payment platter.

Related: 3 Alternate Avenues to Acquiring Technology

Lead With the Monthly Payment Option

Rather than offering financing as a secondary route for your client to consider, save time and lead with it first. Your client won't feel pressured to make a cash option work by rearranging their capital budget or making business sacrifices. You can save the day by encouraging the monthly payment option. Check out this article on why the monthly payment option provides value in any economic state.

Related: When Should I Introduce Financing In the Sales Process?

Make Financing the New Normal

Customers need technology. Technology needs to be updated. Offering a monthly payment gives your clients a predictable technology budget that allows them to get the technology they need today, and refresh to new technology as it becomes available. Once you’ve introduced the concept of monthly consumption early on in the discovery, you can continue to refer to it throughout the rest of the sales process. The end result? No surprises – just one happy customer enjoying a full scope of technology and services with an affordable and convenient monthly payment.

Three Questions to Help You Position the Monthly Payment

If you’ve decided to take this route, the next step is to begin positioning financing. Here are three questions your most successful peers are asking during the discovery to lay the groundwork for a monthly payment option.

1. How important is cash or working capital to your business?

Most companies say they use their capital to invest back into the business and help it grow. Even if their growth expectations are modest, they are still going to invest in marketing, headcount and maybe even inventory. If you establish that working capital is an important leg of their growth strategy, you can successfully position the monthly payment option.

2. What are your growth goals for the next three to five years?

If your client is growing, you can provide scalable financing options to align with their goals. Even better, once your client is accustomed to the monthly model, they can expect budgetary predictability for years to come and won't have to overcome the capital budget obstacle – all while their technology stays up-to-date, fully supportable, and aligned with their business growth strategy.

3. How would your company be impacted financially if your systems were down for a day?

Most companies rely on technology to keep their business running. Even a temporary loss of functioning technology could be costly. The prospect of downtime is a strong way to position the cost of a new system today against potential loss. It also presents the importance of long-term service contracts that protect the customer.

Related: 12 Questions to Differentiate Your Sale & Position Financing (PDF)

How Financing Impacts Cash Flow for You and Your Customers

Monthly payment options enable you and your clients to make better use out of your cash, and allow customers to allocate their on-hand cash to other areas of the business. 

How Financing Impacts the Solution Provider’s Cash Flow

You, the Solution Provider, are paid upfront for the cost of the hardware, software, and installation services. 

As the finance provider, we are equipped to bill, collect and remit to you the monthly Managed Services portion if applicable. 

Related: How Does Managed Services Billing Work?

How Financing Impacts the End User’s Cash Flow

By consuming an affordable monthly payment, as opposed to a large upfront capital expenditure, your client significantly frees up their available cash. Your customers can invest that cash in other areas of the business, like marketing, hiring, or sales initiatives.

Related: Can GreatAmerica Just Work Directly with My Client?


GreatAmerica is the largest independent, family-owned national commercial equipment finance company in the U.S. and is dedicated to helping manufacturers, vendors, and dealers be more successful and keep their customers for a lifetime. A $2.4 Billion company, GreatAmerica was established in Cedar Rapids, Iowa in 1992 and has a staff of over 600 employees with offices in Iowa, Georgia, Minnesota, and Illinois. In addition to financing, GreatAmerica offers innovative non-financial services to help our customers grow.

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