North Mill Equipment Finance
March 26, 2015    |    Issue 2     

3 Surefire Ways Referral Agents Can Take Advantage of a Big Equipment Acquisition Year



According to the Equipment Leasing & Finance Association, investment in equipment and software is expected to reach a record high in 2015. Investments are projected to reach an astonishing $1.48 trillion dollars this year, and 60 percent of equipment distributors and rental companies report that they plan on expanding the sizes of their fleets in 2015.

So, what does this mean for referral agents who work with capital equipment dealerships? Above all else, referral agents stand to enjoy a very successful year — provided that they know how to take advantage.
Read More >>


Grow Your Business

THE IMPORTANCE OF STAYING IN TOUCH WITH CLIENTS
North Mill Equipment Finance

The importance of keeping in touch with previous clients cannot be overstated enough - particularly when it comes to the leasing industry. One of the most integral marketing strategies in the industry in general has to do with word of mouth. Read More >>




POWER UP YOUR PROSPECTING: PART II
North Mill Equipment Finance

Our first installment reviewed the significance of identifying and reaching your target market and the necessity of talking about solutions vs. numbers. Here are two more proven concepts for turning opportunities into funded deals. Read More >>




TRANSPORTATION, CONSTRUCTION AMONG INDUSTRIAL EQUIPMENT ACCELERATING MOMENTUM
Equipment Leasing & Finance Foundation

The Foundation-Keybridge U.S. Equipment & Software Investment Momentum Monitor consists of indices designed to identify turning points in their respective investment cycles with a 3- to 6-month lead time. Take a look at the latest report. Read More >>




US SMALL BUSINESS LENDING SOFTENS IN JANUARY
Equipment Finance Advisor

Recent investment reflects replacement of equipment, property, and plant indicating that plans to expand production are on hold for now, which is partially seasonal due to extreme weather conditions that made expansion difficult in January. Read More >>




CYBER HACKS AGAINST SMBS ON THE RISE: FIND OUT WHAT YOU CAN DO
Fox Business

Cyber-attacks are on the rise, that's no surprise. Cyber-attacks directed at small businesses, however, are also increasing. In fact, according to Symantec' 2014 Internet Security Threat Report, one in five small- to-medium-sized companies were the victims of cyber breaches in 2013. The most common cause of a hack is due to a lost or stolen device, not an actual hacker. Read More >>




FED SIGNALS IT MAY INCREASE INTEREST RATES BY THE MIDDLE OF THE YEAR
The New York Times

The Federal Reserve signaled that it would consider raising its benchmark interest rate at its June meeting, the first increase since the Great Recession, but the central bank emphasized that it might still delay the decision until later this year. Read More >>




OIL PRICES MAY HAVE FURTHER TO FALL
Bloomberg

Oil bulls got another piece of bad news from an unlikely source: the Federal Reserve. U.S. crude production has continued to rise in spite of the collapse in oil prices. The Fed's oil extraction index clocked in at a seasonally adjusted 179.8 in February. That's up 0.4 percent from January and 14.4 percent from a year ago. Read More >>


HELP YOUR DEALERS MOVE NEW EQUIPMENT FASTER AND EASIER
When it comes to moving new equipment off the shelves or off the lot, dealers often need an incentive to help them promote shiny, brand-spanking new collateral vs. units designated as "pre-owned." After all, new equipment usually brings in more money – the cost is higher and the margins are better.

To help our referral agents in turn help their dealers sell more new equipment, North Mill has established its "10-10 program." With 10-10, customers benefit from lower pricing and lower down payments. Indeed, they'll enjoy a 10% reduction in both interest rate and down payment from our standard — hence the name, 10-10.

What's more, the program also offers increased lending limits on lower credit qualities. So all in all, a greater number of customers will have an opportunity to purchase a larger amount of new equipment at better overall pricing.

For more information on 10-10, please contact Don Cosenza, CMO, North Mill Equipment Finance, at 203-354-6018 or email dcosenza@northmillef.com
North Mill's New 10-10 Program
10% reduction on down payment requirements

10% reduction on interest rate requirements

Increased lending limits on lower credit qualities

WHAT ARE THE 3 MOST IMPORTANT THINGS YOUR LENDER MUST PROVIDE TO MEET YOUR DEALER AND CUSTOMER NEEDS?

Text boxes will take you to the survey:
Submit Answers >>

EQUIPMENT SECTOR SOARS TO $6.7 BILLION
With a 12 percent increase as reported in the Equipment Leasing & Finance Foundation's Monthly Leasing and Finance Index, new business volume in the equipment finance sector jumped to $6.7 billion from January 2014.

Separately, ELFA's Monthly Confidence Index for February is 66.3, a slight increase from the January index of 66.1 and the highest level it's reached in the last three years. Read More >>

For more information on articles in The Compass, or if you're interested in learning how to become a North Mill Referral Agent, please email Don Cosenza at dcosenza@northmillef.com or call 203-354-6018.


This newsletter includes links to other websites and the content within. The articles that link outside this newsletter have not been generated by, nor are they endorsed by, North Mill Equipment Finance. The aggregated content is simply intended to provide direct access to information that a referral agent may find useful.

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