Taycor Supports Vendor Partners at the 2012 NAB Show

Taycor Supports Vendor Partners at the 2012 NAB Show

The 2012 NAB Show will hold conferences from Saturday April 14 to Thursday April 19, and exhibits will run from Monday April 16 to Thursday April 19 at the Las Vegas Convention Center. The show highlights over 90,000 media and entertainment professionals from over 150 countries converging to share knowledge, take part in workshops, and have an opportunity to see firsthand advances in broadcasting equipment.

LAS VEGAS, NV (April 13, 2012) An initiative of the National Association of Broadcasters (NAB), the NAB Show has been gathering since 1923. In its current iteration the show will focus on the great content shift that has occurred through extraordinary advances in contributing technologies that have resulted in whole paradigm shifts in content creation, management, distribution, delivery, and finally consumption.

“Taycor has been committed to supporting our vendor partners at the show for the past decade and a half,” said Michael Hong, Director of Business Development at Taycor Financial. “The entire senior staff of account managers, credit managers, and vendor support specialist is made available to provide instant equipment leasing and financing support to our vendor partners. In years past we have noticed more and more of our partners setting up work stations in their booths to not only take down customer information, but to quote them and close the deal. To answer the call of innovation, this year we have rolled out a customer finance center that allows our partners to instantly quote monthly payment options, submit a customer application for financing, and receive real-time updates on approval status from a computer or on their Smartphone.”

“The NAB Show has for years been the platform from which new trends and advances in technologies have been announced, and we felt that it was a perfect fit to officially roll out our customer finance center,” said Hong. “All of the tools, calculators, and equipment leasing and financing resources were ultimately created and developed to support our vendor partners by generating more business through collaborative marketing efforts, and then helping them close more business though the use of leasing and financing as a sales tool.”

“Speaking with organizers of the event, attendance of the show is expected to make a significant rebound from recent years. We are excited to once again be physically, and now technologically present at this year’s NAB Show. We will continue to provide customer centered and innovative support to our partners in the broadcast and media equipment industry, and provide sales support through leasing and financing,” said Hong.

About Taycor Financial

Founded in 1997, with offices in Los Angeles CA and Boston MA, Taycor Financial has joined the ranks of America’s top businesses, establishing itself as one of the premier equipment financing companies in the U.S. Taycor is also one of the most rapidly growing; having made the “Inc. 500” list of America’s fastest growing private companies. For more information on equipment leasing or financing, to get an Instant Quote, or explore career opportunities visit www.Taycor.com or call (310) 568-9900.

Download: 04132012 Taycor Supports Vendor Partners at the NAB Show

Financing a Greener Future Taycor Financial Partners with SunSurfs Solar

Financing a Greener Future Taycor Financial Partners with SunSurfs Solar

SunSurfs Solar USA is the leading green choice for alternative energy equipment. In support of SunSurfs One Million Free Solar Thermal Installation Projects Program Taycor Financial, a nationwide equipment leasing and financing company, has pledged new programs to allow wider access to green energy equipment upgrades.

WHITE PLAINS, NY (MARCH 15, 2012) Taycor Financial will continue to expand their reach into the green energy initiative through their collaboration with SunSurfs Solar USA.

Taycor and SunSurfs will establish a jointly supported solar equipment leasing program to provide easier access to solar energy products for commercial use. SunSurfs has recently announced a One Million Free Solar Thermal Installation Projects Program (see sunsurfs.com for program details) that will serve to reduce the final cost of green energy upgrades. The reduction of cost will allow for faster recoupment of investment through energy savings.

“We are pleased to be able to partner with SunSurfs, which has a history of being one of the industry’s leading providers,” said Michael Hong Director of Business Development at Taycor Financial. “Working with SunSurfs, we hope to help pave the road for business owners that want to think green and save money too.”

The mission of the jointly supported solar equipment leasing program will be to deliver not only industry leading green energy equipment, but to allow the purchase to pay for itself over time.

“Prior to collaboration business owners had to take a big picture approach to solar energy upgrades. The installation of SunSurfs equipment has time and time again proven to recoup initial costs and reduce carbon footprint, however it often had to be paid for out of cash reserves,” said Hong. “Our vision is to provide flexible programs with no down payment that will allow the equipment to pay for itself through savings starting day 1.”

About Taycor Financial

Founded in 1997, with offices in Los Angeles CA and Boston MA, Taycor Financial has joined the ranks of America’s top businesses, establishing itself as one of the premier equipment financing companies in the U.S. Taycor is also one of the most rapidly growing; having made the “Inc. 500” list of America’s fastest growing private companies. For more information on equipment leasing or financing, to get an Instant Quote, or explore career opportunities visit www.Taycor.com or call (310) 568-9900.

Download: 03152012 Financing a Greener Future Taycor Financial Partners with SunSurfs Solar

Equipment Leasing and Finance Activity on the Upswing

Equipment Leasing and Finance Activity on the Upswing

Confidence measurements continue to climb into February as 32% of customer respondents believe that acquisition through equipment leasing and financing is inevitable in 2012. This is up nearly 20% from customer survey results conducted in the first quarter of 2011.

LOS ANGELES, CA (February 27, 2012) The increase in equipment leasing and financing activity from customer respondents about the months to come match with the steady reports of industry growth and a rise in business confidence levels.

With the continued positive outlook and participant optimism of the Equipment Leasing & Finance Foundation’s February 2012 Monthly Confidence Index (source), the once shaky foundation of business growth is starting to solidify. Industry leaders are expecting a strong growth trend throughout the remainder of 2012.

“Some of the factors that affected a stronger and earlier resurgence of capital equipment acquisitions include the still tumultuous European economy as well as the slow to recover construction and manufacturing industries,” says Bob Skibinski, CEO of Taycor Financial.

Traditionally construction and manufacturing sectors have comprised a large segment of the total volume funded in the equipment leasing and financing industry. However, in recent years they were amongst the hardest hit and most affected by the downturn in the economy.

“Both the construction and manufacturing verticals have historically had steady year over year growth in average transaction size as well as an overall need for growth. It was commonplace for many equipment leasing companies to entrench themselves in those two markets, but with recent hardships those companies that did not expand strategic alliances into other industry sectors are either gone or scrambling to play catch up,” said Skibinski.

The customer survey results indicate the continued growth of the information technology and medical equipment sectors as the most active amongst positive responders.

Skibinski added: “Today, our portfolio is more diverse than ever. The learning opportunities as well as the security of a multi-industry alliance ensure our ability to advance the most innovative, and customer focused equipment leasing and financing programs to support the growth of all our partners.”

About Taycor Financial

Founded in 1997, with offices in Los Angeles CA and Boston MA, Taycor Financial has joined the ranks of America’s top businesses, establishing itself as one of the premier equipment financing companies in the U.S. Taycor is also one of the most rapidly growing; having made the “Inc. 500” list of America’s fastest growing private companies. For more information on equipment leasing or financing, to get an Instant Quote, or explore career opportunities visit www.Taycor.com or call (310) 568-9900.

Download: 02272012 Equipment Leasing and Finance Activity on the Upswing

Taycor Financial Introduces New YouTube Channel

In a continued effort to provide their customers with 24/7 easy access to knowledge and information necessary to make informed decisions on equipment leasing and financing, Taycor Financial has expanded their delivery platform to online video.

LOS ANGELES, CA (February 20, 2012) Taycor Financial has expanded their reach into one of today’s most popular methods of information delivery and topic research. The newly launched YouTube channel, located at http://www.youtube.com/taycorfinancial, will feature on-demand streaming content from Taycor’s growing knowledge base of informative articles, equipment leasing news, promotions, and introductory programs.

“Our directive was to provide instant and constantly accessible informational content for our users. Our Finance Your Equipment series of videos will be produced with customer education in mind” said Michael Hong, Director of Business Development at Taycor Financial. “The topics in production range from credit preparation for new business applicants, a guideline to securing the right-fit-equipment-financing in today’s changing landscape of business financing as well as on-site interviews of current customer experiences. As we continue to increase the topics of our video offerings, our goal is to create a new avenue to connect and communicate with our audience.”

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A Little Bit of Effort Saves a Lot of Work: Business Financing Today

A behind the curtains look into the new landscape of business lending from a nationwide leader in financing

A behind the curtains look into the new landscape of business lending from a nationwide leader in financing.

As the signs of widespread economic recovery start to appear, the once hunkered down and hibernating small and medium-sized businesses are awakening to a very different landscape of business lending. It has always been an axiom of truth that businesses need capital support to grow and thrive. Over the last few years however, the downturn in the economy has changed the business finance industry as much, if not more than any other.

In the old days business owners walked confidently into their community bank, and walked out with easy access to capital. The scenario now plays out much differently. Community banks, once open armed welcomers, are quickly disappearing. They are being swallowed whole by larger institutions, or are themselves running into financial difficulties resulting in insolvency. The petition process of securing a business loan from one of the few remaining mega banks is now often arduous, complicated, or simply unavailable.

With the needs of capital support growing, and the availability of bank financing diminishing, there are those innovators that are stepping up and in to fill the role left behind. As a pioneer and leader of the new generation of business equipment leasing and financing companies, Taycor Financial Headquartered in Los Angeles CA, has provided a roadmap to help the business community navigate the new path from identifying equipment for purchase to financing.

Intelligent Shopping

Throughout the process of securing capital for equipment purchase, working capital injection, or general business growth, you’ll find that a little bit of effort saves a lot of work. Once you have found the approximate purchase price for the machinery that you need, or estimated the requested loan amount, the same careful attention should be made in choosing a financing or leasing partner.

Reputation: Chances are that your search for a finance company will include a foray into the World Wide Web. Take the additional step of researching the resulting companies, but moderate what you see. The internet has become the new soap box. Though the web contains a wealth of information, customer surveys have found that an unsatisfied customer is more than 9 times as likely to leave a negative review as a satisfied customer is inclined to leave a positive one. Also, buyers beware that the absence of reviews or information may not be a positive factor. Companies with little to no online presence might mean that the potential partner is new, or does not do enough business to have a customer reputation.

Flexibility & Scalability: Not all leasing and financing companies are alike; just as the needs of individual businesses are not generic. Often depending on the collateral and loan amount, there are options for payment deferrals or holidays that can help in the transition period commonly associated with new purchases or debt obligations. Ask potential financing partners about prepayment penalties, conditions for early buyout, and available options for flexible payment plans.

Return on Investment: Gone are the days of luxury and esoteric purchases. The common trends in equipment portfolio growth over the last few years have primarily been in purchases that generate revenue or gain efficiencies. Business loan and working capital divisions have reported that injections of capital are being spent on gaining market share and growth of business infrastructure. As an intelligent shopper you must determine if the acquisition of equipment or proposed spending of the business loan generates income or gains productivity? If the answer is ‘yes,’ evaluate and complete market research to estimate the dollar value gain to your business per month. This should become your Go/No Go assessment when finalizing your lease or loan.

Application Submission

Modern credit evaluations throughout the industry have evolved into automated, and little understood computer scoring models. Risk is now often assessed not only by your individual company’s history, but by the portfolio performance of your entire industry. The recent economic undoing has left entire industry verticals on the excluded list. If your potential financing partner only uses a computerized scoring model, you may be fighting an uphill battle with a guide that knows little about their actual approval criteria. For those finance companies that still maintain an experienced group of risk management credit staff, these are some of the criteria they use to decision submitted applications.

Personal Credit: A business with fewer than five owners is usually considered closely held. This designation means that regardless if you are applying for a lease or loan that requires no personal guarantees, the personal credit of the ownership (usually for those owning 20% or more) will be reviewed. The reason for inspection is simply that for closely held business denominations the fiscal health of the owners, their ability to maintain good financial health, and their personal payment habits generally impact business practice. Consider doing a self review prior to submission by contacting the three primary credit reporting agencies:

-Equifax
-Experian
-Transunion

Business Credit: There are currently several business credit reports available on the market. The most commonly used compiler, Dun & Bradstreet, aggregates information and assigns a Paydex score. Manual review of a Dun & Bradstreet or comparable report considers two criteria. Primary credit review focuses on the business history in paying established trade lines. Weight is based on high credit, and whether payments were made on time, late, or early. Consideration is then made on the number of trade lines reporting. If a business credit report scores well, but there are only one or two creditors reporting pay history of a very small amount the score tends to carry little weight in positive credit decisions.

Bank & Borrowing Reference: To bypass a full financial disclosure package, many equipment lease companies allow bank and borrowing references to be submitted in lieu of tax returns and financial statements. The bank reference gives a monthly snapshot of cash flow in and out of the business. A history of well maintained bank balance shows finance companies the applicant’s ability to take on additional debt. Comparable borrowing references are one of the most important factors when considering loans and leases over $50,000. The payment history reflected by a lease or loan reference similar in nature to the current request will give the creditor a true view of what they may expect when extending the same type of credit once more.

Successful Approval

The digitalization and upgrade of technology infrastructure in today’s modern business finance companies allow for near instant reference and report requests. If prior to application submission potential hurdles and challenges were addressed, the approval process should be measured in business hours and days not days and weeks.

Read: Once an approval has been extended, lease or loan documents will shortly follow. Read and confirm that the terms and conditions are as previously discussed and agreed.

Ask Questions: If there is a discrepancy of literature that you are unsure or uncomfortable with, ask questions. Relationship oriented finance partners will be more than happy to explain confusing legal language as well as be your advocate each and every step of the way.

Sign & Secure: Once you are comfortable with the documents, sign and execute. Then, it is very important that you secure multiple copies of your documents. Often in the event of an equipment lease, the purchase option addendum is what guarantees a fixed buyout at the end of the term.

About Taycor Financial

Founded in 1997, with offices in Los Angeles CA and Boston MA, Taycor Financial has joined the ranks of America’s top businesses, establishing itself as one of the premier equipment financing companies in the U.S. Taycor is also one of the most rapidly growing; having made the “Inc. 500” list of America’s fastest growing private companies. For more information on equipment leasing or financing, to get an Instant Quote, or explore career opportunities visit www.Taycor.com or call (310) 568-9900.

Download: 02092012 A Little Bit of Effort Saves a Lot of Work

Equipment Leasing Rates to Remain Low in Light of Bernanke Announcement

Equipment Leasing Rates to Remain Low in Light of Bernanke’s Announcement

LOS ANGELES, CA (January 26, 2012) Fed Chairman Ben Bernanke announced Wednesday that interest rates are not likely to rise from their current record low until at least late 2014. The news came as an extension of nearly 18 months from the previous commitment to keep rates low until 2013.

Since 2008, the Fed has attempted to stimulate economic growth by lowering the interest rate banking institutions charge each other for overnight loans. By maintaining rates at near historic lows the Fed is attempting to stimulate spending by both consumers, and businesses alike.

In light of Bernanke’s announcement Bob Skibinski, CEO and Founder of Taycor Financial, said: “With interest rates at all time lows equipment leasing and financing is going to be a huge tool for business growth across all industry verticals. Many of the surviving businesses after weathering the economic storm of the last few years are left with smaller cash reserves. With the economy growing, existing equipment and infrastructure aging, and an environment of fewer competitors, customers and partners are calling in droves to acquire financing for their equipment acquisitions.”

Taycor recently announced two leasing promotions to help businesses conserve capital while still getting the equipment they need. “We remain committed to our customers and partners in providing the best possible rates and programs,” says Skibinski.

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InternScout Partners with Equipment Leasing Company to Create International Business Exchange Program

InternScout Partners with Taycor Financial to Create International Business Exchange Program

LOS ANGELES, CA (January 19, 2012) Taycor Financial has announced the launch of an international internship program in partnership with InternScout. The program will focus on postgraduate as well as current university level students studying business, finance, or marketing.

InternScout, one of the leading placement agencies in the U.S. has more than 200,000 registered international students, and recent graduates throughout Europe and abroad. With offices in San Diego, CA and Leipzig, Germany, InternScout’s mission is to provide international students placement with premier U.S. partner companies. Their goal is to provide an opportunity to exchange business culture, and create long-term relationships around the world.

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Taycor Financial Helps to Conserve Business Capital with Two Equipment Leasing Promotions

Conserve Business Capital Equipment Leasing Promotions

LOS ANGELES, CA (January 9, 2012) Taycor Financial announced this week two equipment leasing promotions to help businesses conserve capital while still getting the equipment they need.

The “step lease” and “90 day deferral” programs are for qualifying credits with 2 or more years in business. The programs will provide a period of time beyond the standard delivery and installation phase, where the equipment will have time to start working and generating revenue. The programs were designed primarily for purchasing technology equipment, software, and infrastructure, but they can easily be applied to traditional commercial equipment lease purchases as well.

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Taycor Financial Announces New Website

Taycor Financial Announces New Website

LOS ANGELES, CA (January 3, 2012) Taycor Financial, an award winning leader in the equipment leasing and financing industry is excited to announce the launch of their new website, taycor.com. Since 1997, Taycor has centered on a culture of constant improvement to reach the company’s objective, to help customers and vendor partnerships achieve greater success. With the last redesign completed in 2008, the goal of the current overhaul is to provide a more functional, user-friendly navigation experience. The mission was to provide the desired information or action all within three clicks of the mouse.

Michael Hong, director of business development at Taycor, says: “The website refresh and site architecture design was planned around the 3 clicks concept. During the storyboarding phase, if the user entered the site at any point and couldn’t get to where they wanted to go within three clicks of the mouse, we started over. At least five fully developed working models were designed and created, only to be dragged into the desktop recycle bin. We collaborated with long time partners in the equipment leasing industry to compile, meet, and then exceed user expectations. The result is a consummate presentation of equipment leasing and financing information available to users around-the-clock.”

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