BNC Finance works with B2B organizations to offer customized vendor financing solutions to their business customers. We identify opportunities in various business departments and implement an omnichannel vendor financing solution through those respective channels.
A Strategic Approach to Vendor Financing
BNC Finance works with B2B organizations to offer customized financing solutions to their business customers. We identify opportunities in various business departments and implement an omnichannel financing solution through those respective channels.
Multi Department Approach
Improve cash flow by using a multi-department approach.
- Develop finance specific marketing material
- Improve Sales Department Closing Ratios
- Reduce Credit Risk & Increase AR Turnover
Marketing Department
Offer Financing as a way to improve your B2B marketing strategy. Develop customer specific marketing material while increasing customers buying power through financing incentives.
AS LOW AS PAYMENT CALCULATOR
- Include As Low As Monthly payment in quotes and invoices and your customers will no longer be focused on the total cost of your product or service. Wouldn't you agree that $99 per month sounds better than $5,000?
WEBSITE FINANCE APPLICATION
- If a prospect visits your website and cannot afford your product or service, they most likely won't call or request more info. If they see a finance application, they may apply to see if they can get approved.
- Develop co-branded landing page application with customer-specific content on programs and solutions made for their business.
BUSINESS FINANCE FLYER
- Cobranded Business Finance Flyer to attached with quotes and invoices. Increases quote to sale conversion by increasing customers buying power and budget.
- Create finance specific promotions and sales to entice customers to move forward with new products or services.
- Incorporate a finance sale in your B2B marketing strategy. Offering a low or no interest option on approved credit.
Download a Free Business Finance Flyer
Increase sales by adding a free business finance flyer to quotes and invoices
Sales Department
Improve B2B sales by equipping your sales team with the tools needed to close more deals. Offering financing at the point of sale allows your B2B sales reps to improve closing ratios, upsell add-ons, and improve customer retention.
OVERCOME PRICE OBJECTION
- We will teach your sales reps strategies on using financing as a sales tool to overcome price objection.
UPSELL QUANTITIES AND ADD-ONS
- We will teach your sales reps strategies to upsell quantities and add ons. Offering financing increases your customers budget allowing them to be able to afford more products or services.
INCREASE CUSTOMER RETENTION
- Structure programs to incentivize customers to come back to you for upgrades and future purchases.
Accounting & Finance Department
Improve Cash flow by offering finance options to customers through both Accounting and Finance departments. Reduce credit risk while improving Accounts receivable turnover.
REDUCE CREDIT RISK
- Tighten up credit requirements and reduce risk by offering financing instead of extending terms to clients—a great way to reduce your bad debts and collections.
- Extend terms to customers without carrying the risk of being paid.
IMPROVE ACCOUNTS RECEIVABLE TURNOVER
- Offer financing as an alternative to extending terms. You can get paid upfront, and customers can have more favorable terms than before.
- Prefunding options allow you to extend terms to customers while receiving funds upfront.
IMPROVE COLLECTION RATES
- Offering financing is a great way to improve collection rates before writing off as bad debts. Have your collection department reach out to past due customers and let them know about the financing options available to them.
How to offer Financing to your B2B customers
- Fill out Vendor Application Questionnaire
- Send in Logo for CoBranded Application Development
- Fill out marketing requirement questionnaire
- Add Link for Web Application to website, quotes, and invoices.
Benefits of offering Financing to your B2B customers
INCREASE SALES BY OFFERING FINANCING
- OVERCOME PRICE OBJECTION
- We will teach your sales reps strategies on using Financing as a sales tool to overcome price objection.
- UPSELL QUANTITIES AND ADD-ONS
- We will teach your sales reps strategies to upsell quantities and add ons. Offering financing increases your customers budget allowing them to be able to afford more products or services.
- INCREASE CUSTOMER RETENTION
- Structure programs to incentivize customers to come back to you for upgrades and future purchases.
INCREASE AR TURNOVER AND REDUCE CREDIT RISK
- REDUCE CREDIT RISK
- Tighten up credit requirements and reduce risk by offering Financing instead of extending terms to clients. A great way to reduce your bad debts and collections.
- INCREASE AR TURNOVER
- Offer Financing as an alternative to extending terms. You can get paid upfront, and customers can have more favorable terms than before.
- OFFER CUSTOMERS A LINE OF CREDIT
- Set clients up with a line of credit, allowing them to draw funds when they need them. Great for inventory, supplies, and paying down existing debt.
IMPROVE COLLECTION RATES AND REDUCE BAD DEBTS
- IMPROVE COLLECTION RATES
- Offer Financing as an option to customers before turning them over to the collection department or integrate funding as an option with your collection department.
- REDUCE BAD DEBTS
- Offer a wide range of financing solutions to your customers to allow them to pay off some of or all of their bad debts.
How B2B customer financing works
- Let customers know about financing options
- Insert "Apply Now" Link into Invoices and Quotes
- Add "Financing" tab to website
- Send Co-Branded Financing Flyer to Customers
- Customer Applies for Financing
- Online Application Landing Page
- From Mobile Phone
- Customer Receives Approval or Decline
- Customer Receives term options
- Customer Chooses Term options
- Customer pays for products or finance source pays Vendor directly
- Customer Takes possession of Equipment or receives product or service
Why should all B2B businesses have a website application to offer Financing?
Increase Online Leads
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- Prospects who are visiting your website may not reach out to you if your product is out of their budget. We let you know who applies whether they are approved or not. Even if we cant finance them, your sales team should still follow up with them.
Competitive advantage
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- Most prospects who are on your website are most likely looking at your competitor's websites as well. If your products or services are out of their budget, they might never reach out to your organization. If they see that you are offering to finance and your competitor is not, they might choose you for that simple reason.
Friendly to Remote Applicants
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- It allows remote customers an easy way to apply. Many customers are working from different locations or the office. Online application is Mobile friendly, allowing your customers to apply while in your office or out on the field from their smartphones.
No cost to set up
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- Setting up a B2B financing application for customers is free. All the business needs to do is complete the Vendor Questionnaire and send over a logo for their website.
Industry Specific Solutions
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Read More4 partnership options to best fit your business requirements.
Enterprise & Strategic Partners
Ideal for an organization that has business customers and wants to strategically partner to offer a captive financing program to meet your customers financing requirements.
Referral & Funding Partner
You’re a broker, sales organization, professional services firm, or direct lender who wants to offer additional lending products to your customer base of business owners. BNC provides sales trainging and marketing solutions help our partners grow and increase income.
Affiliate Partner
Designed for bloggers and publishers that have an audience of business owners who would benefit from BNC Finances solutions. Allows affiliate to earn income whille bringing value to their audience.
Consumer Financing for your Customers
Designed for businesses to consumer companies who have customers that need financing.