Vendor Programs
Value Proposition
Heartland's primary objective is to develop direct, long-term relationships with quality equipment and software vendors by offering competitive business leasing and financing programs, products, and services.
Vendors have direct access to Heartland's senior management to discuss both strategic issues and specific transactions…get right to the decision makers who can impact your business.
Heartland's funding lines from Heartland Bank enable us to hold and service our own portfolio - we don’t "sell paper", ensuring our vendor's customer base control for future revenue opportunities.
Heartland provides very competitive rates for equipment leasing and software financing programs.
Our small-ticket programs for transactions under $75,000 are fast, convenient and efficient:
- Application Only credit criteria
- Fast, consistent credit decisions made within 2 hours
- Customized proposal generators provide quick, easy to use lease quotes
- One page equipment lease or for software a one page installment payment agreement
- Same day funding commitment
Our mid-ticket program focuses on transactions from $75,000 - $500,000. Vendors can draw upon Heartland’s field sales personnel as qualified resources to help take an opportunity from proposal to close.
Heartland employees treat every vendor and every customer with respect and professionalism.
Vendors Supported
Heartland can design, implement, and support finance programs for vendors of all types, including:
- Manufacturers
- Distributors
- Dealers
- Value Added Resellers
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Vendor Benefits
If you’re an equipment or software vendor currently using leasing or financing proactively as a selling tool, you already understand how critical it is to work with a finance company that really understands your market, your customer’s needs, and your business. Helping prospective customers answer the key question "How can we pay for this product" will drive these benefits for you:
- Proactively offering a payment plan alternative to cash on every deal will close additional sales
- Selling monthly payments protects your margins by reducing reliance on discounting
- Customers can afford, and cost justify, larger and better solutions when financing
- Protect your customer base from the competition for future add-on and replacement sales
- Uncover cost objections and close sales faster by using leasing as a trial close opportunity
- Heartland enhances your cash flow, minimizes collection problems and enhances your ability to manage your DSO
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Program Structures
Heartland Business Credit provides customized vendor finance programs for many different types of vendors, and will recommend the right structure from one of these four options:
Referral
This is the most common program, and is considered an "arms length, third party" relationship. The vendor quotes payments using a rate card or proposal generator from Heartland, but only Heartland is noted on the marketing materials, application form, and lease and installment payment agreement.
Co-branded
Still considered an "arms length, third party" relationship. The vendor quotes payments using a rate card or proposal generator from Heartland, which have been customized to include the vendor's logo in addition to the Heartland logo on marketing materials, application form, and lease and installment payment agreement. Heartland is clearly named as the lessor on the finance contracts.
Private Label - Notification
This private label program allows the vendor to present payment options under their name as part of the total solution. Applications, marketing materials, lease and Installment Payment Agreement only reflect the vendor's name and logo, with Heartland completely transparent to the customer as the underlying lessor on the transaction during the origination phases. Once a transaction has been commenced, the customer receives notification of assignment to Heartland, which then bills, collects, and services the transaction under the Heartland name. To design and administer a program of this type typically requires a $5M minimum annual lease volume commitment. Not recommended for software vendors due to restrictions contained in SOP97-2 and SOP98-4.
Private Label - Non-Notification
This private label program allows the vendor to present payment options under their name as part of the total solution. Applications, marketing materials, lease and Installment Payment Agreement only reflect the vendor’s name and logo, with Heartland completely transparent to the customer as the underlying lessor on the transaction. Only the vendor’s name is used during the entire life-cycle of the transaction from inception to termination. To design and administer a program of this type typically requires a $15M minimum annual lease volume commitment. Not recommended for software vendors due to restrictions contained in SOP97-2 and SOP98-4.
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Universal Elements
Program structures will vary according to a vendor’s specific needs. The following Heartland features will benefit everyone.
Personalized Sales Assistance
Heartland's professionals can help your sales team close transactions by offering the right payment plan.
Sales Training
Our lease/financing training modules will increase your sales team's confidence and effectiveness in using leasing as a closing tool.
Fast, Consistent Credit Decisions
Our Credit Department's speed and consistency can help take deals "off the street" quickly.
Fast Funding
Heartland is not only fast to fund, we also offer "split funding" for manufacturer/dealer programs.
Quick Quote Tools
Vendors who want to proactively quote financing on every proposal, can request Heartland's easy-to-use proposal generator for their sales team.
Internet Access
Heartland is developing a webpage for future Internet-based application submittal and database viewing, so interested vendors can use our website to both submit and track applications through to funding.
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