Equipment Leasing Program

Q: What kind of equipment can I lease through Tanner?

A: Although we specialize in leasing Printing & Graphic Arts equipment, the Tanner Equipment Leasing program allows you to lease any kind of equipment you would like. Tanner’s current lease portfolio includes construction/manufacturing equipment, medical equipment and health & fitness equipment to name a few.

Q: Will I get a competitive leasing rate?

A: Yes. In fact, Tanner has consistently provided competitive leasing rates. Tanner leases to A, B, and C type credit risks. Our rates are largely reflected on the financial strength and security of your company.

Q: Is there a maximum or a minimum lease amount?

A: The minimum lease amount Tanner will consider is $7,500.00 CDN.

Q: My Equipment supplier requires a deposit. What are my options?

A: In this scenario, there are a few possible options. First, you may pay the deposit and lease the balance, or lease the entire cost of the equipment including the deposit. Also, you will be able to request a deposit reimbursement upon your application. This means that we pay the equipment supplier in full, and the equipment supplier will return your deposit.

Q: Must the equipment I am leasing be insured?

A: Yes, you will need insurance. In most cases, your business insurance will cover equipment leases.

Q: Can I include services such as consulting and training in my lease?

A: In certain circumstances, “soft costs” such as training and installation can be financed. As long as these costs reflect an acceptable percentage of the overall transaction amount. Tanner does not finance consultancy fees.

Q: Can I re-lease equipment that I have already purchased?

A: Yes. This what is known as a sale-leaseback. This option is typically available for equipment that has been purchased within the past 90 days.

Q: Can I finance the remaining balance if I have placed a down payment on the equipment?

A: Yes, if you choose to make a down payment you can subtract that amount from the total owed on the equipment. This scenario can also help fast-track your approval. Remember, however, that you will not own the equipment until the lease ends.

Q: Will Tanner lease to start-up companies?

Yes. Tanner will consider financing to companies that have been in business for less than two years. We require that you fill out a consumer credit application along with the commercial lease application.

Accounts Receivable Financing

Broaching 3rd Party Concerns: Dispelling The Myth Of Factoring

One of the biggest concerns potential factoring clients have, aside from the potential costs involved, is this - what will my customers think if I begin factoring?

Why is this the case? For better or worse, factoring still has a perception of being the 'option of last resort,' to be used only by companies experiencing financial difficulties. So when your customers learn that you are about to start factoring, sometimes it can cause an alarm to go off in their heads. Something must be wrong with my supplier's finances, they might think. How can we handle this issue of potential customer concern?

Basically, by letting them know that there is no reason to hit the panic button, and that you are not about to disappear into that dreaded red sea. The best way to do this is to simply re-direct their thinking about factoring, especially as it relates to your company.
For instance, let's suppose that, like many businesses, good sales and slow payments has caused a cash flow problem, and like many of us you go to a bank. The bank approves your request, and you obtain a loan for the money you need. The next day, in a conversation with one of your customers, you happen to mention that you have secured a bank loan. What will your customer's response be? Will he or she begin to panic, asking hysterically why you needed to get a bank loan? Will they think that you must be in serious financial trouble because a bank actually loaned you money? Of course not.

Bank loans are seen as a normal part of doing business - everyone needs money at some point, usually on an ongoing basis - and a bank loaning money to a business is always seen as a good sign. It is, in effect, seen as a vote of confidence by the bank; an implicit acknowledgement that that business is strong, and will be around for a long time yet. So the response you'll likely get from your customer, when they hear that you've obtained a bank loan, will probably be positive.

Now, what's the difference with factoring? If a factor decides to establish a relationship with your company and sends you an advance, what is that factor saying about you? Are they saying that they think your company is in financial distress? Hardly. Factors do not get involved with companies they have no confidence in anymore than the banks do. If a factor takes on your company as a client, they are giving you a vote of confidence. Similar to a bank, they are, in effect, making an investment in your company and its future.

One of the biggest reasons, if not the biggest reason, why companies turn to factoring, is because they are in a rapid growth stage and it is taxing their cash flow. It's a familiar refrain - you have good sales, but slow payments. The inflow of cash is struggling to keep up with the outflow of cash needed to keep pace with customer demand.

Who is it that is causing you to have this little cash flow "situation"? That's right - your customers. Those same customers that demand you provide your product or service on time, and then expect extended credit terms. These same customers, as it so happens, who are now concerned about you factoring, when in fact you have been helping them finance their businesses. It goes without saying that if they were to pay you up front, you wouldn't need to factor. Your cash flow would be just fine, and you could fill their orders without worrying about where the money to pay for it was going to come from. Simply put, your customers continue to enjoy credit terms, while you enjoy a C.O.D. relationship!

At Tanner Financial Services Inc., part of our service to you includes meeting with you and your customer together, if you so desire, to explain clearly and simply how the program works and how all parties benefit.

Personal Judgement Collection Kit

Q: Can I Use This Tutorial If I Reside Outside of Ontario?

A: Yes, but only if your judgment was awarded in an Ontario Court.

Q: My debtor has closed his old business and started up a new one. Is this a problem?

A: Absolutely Not!! This is a common occurrence. Let us show you how to overcome this obstacle.

Q: The company that owes me money is now under new ownership. How will I get my money now?

A: Easy. The debt didn’t go away just because the management changed. Let us show you how to do it.

Q: My debtor has changed his/her name. Can I overcome this?

A: No problem. Again this is a fairly common occurrence with a very simple solution.

Q: My Debtor is unemployed and broke. How can your system handle this?

A: Be patient. A Judgment in Ontario is in effect for up to 20 Years! Everybody’s financial situation changes over time. It is highly unlikely that you debtor will be unemployed and broke for the next 20 years, right? Purchase the Personal Judgment Collection Kit today, and be prepared for the day that their financial situation does change – because IT WILL!

Q: My debtor has declared Bankruptcy. Can I still get my money?

A: If your judgment is listed in your debtor’s bankruptcy documents as a debt to be discharged, you may be out of luck. We have included a section on Bankruptcy in our kit.

Q: My judgment exceeds the $10,000 Small Claims Court Limit. Can the Personal Judgment Collection Kit work for me?

A: Absolutely! Although our system focuses primarily on Small Claims Judgments, we have included a section in our Kit that deals with Superior Court Judgments as well. The collection methods are the same as Small Claims Court, however the procedural rules are different.

Q: Are there any other costs that I will incur to collect my judgment?

A: Only the fees the court office charges for issuing the documents. These fees can range in price from $10.00 to $35.00 per collection method. We have included a full list of small claims court fees so that you will know what your costs will be up front.

Q: Can I use the Personal Judgment Collection Kit to enforce my judgment, and any other judgments I may have now or in the future?

A: Absolutely! This tutorial has been structured to be used over and over again, as many times as you wish.

Do you have a question about this product that is not addressed in the above FAQ?
Please email us and we will be happy to respond!