Has Your Situation Changed?
By Kevin F. Clune, CLP
When a recent sales visit to a prior customer resulted in new business, I welcomed the opportunity. Since a few years had lapsed since our last lease transaction, I also was curious to learn what had changed.
Fortunately, the decision was due to a policy change regarding the type of equipment they had leased and not due to a problem with the Clune & Company service. My response was that Clune & Company finances all kinds of equipment and would like to be considered for their other capital equipment acquisitions. It evidently struck a nerve.
Many circumstances can lead to ending a company’s relationship with a business creditor or lessor, whether it is an internal policy change, a new owner or decision maker, a different equipment vendor, the choice to tap a bank line of
credit, or use cash funds. In the end, any business owner will tell you that they would appreciate an explanation from a customer of why they are leaving.
In all of these scenarios, the relationship may have continued if the customer had only communicated the change in their situation. The customer may have found that an Independent lessor such as Clune & Company may still have been able to serve their needs.
We also understand that businesses constantly need to react to the financial situation in their particular industry and what may have been true a few years ago is no longer the prevailing method of choice. Changes in accounting laws and banking regulations may necessitate a review of current equipment acquisition policy. Are your new funding sources cost effective and responsive to your needs?
We encourage you to keep the lines of communication open and let us know about changes in your business model, management, and purchasing policies that may affect your choice of a leasing company. If you are contemplating a switch or have been away for a long time, we would appreciate learning about the challenges in your situation.
A resolution may just be possible.
Kevin F. Clune, CLP
Clune & Company
