A CRM for equipment finance brokers

An equipment deal usually starts with a quote from a vendor, a short application and, for larger tickets, statements or financials. The deal holds the request amount and use of funds, the documents with their types, and the owner details. Equipment specifics such as make, model, year, new or used, and vendor name go in custom fields on the deal.

Many equipment lenders run application-only programs up to a ticket size, then ask for more paper above it. Put that on each program: an amount range, a minimum credit score, time in business and excluded industries. Lender matching checks them all against the deal at once.

Pick the eligible programs and build the submission with each lender's email template. Track sent, in review, stips requested, approved and declined per lender, with decline reasons, so you learn which sources actually approve which equipment and credit profiles.

Approvals are recorded as offers with payment frequency, number of payments and fees. Monthly payments over a fixed term are the usual case; the calculator also handles weekly and daily schedules for revenue-based alternatives.

Equipment brokers are often paid points on the amount financed, sometimes shared with the vendor who referred the buyer. Keep vendors as partner companies linked to their deals, and record each commission with its split so you know what you owe and what you are owed.

We do not have equipment-specific screens such as asset lists, residual values or lease-versus-loan structuring. Offers are entered by total payback and payment. If your desk prices leases with residuals, keep your pricing tool and record the result here.