Sign & Digital Graphics

March '20

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S D G M A G . C O M • M A R C H 2 0 2 0 • 4 5 Like other types of financing, Alliance asks its prospective clients to complete a loan application and provide bank statements so the company can gauge their creditworthiness. McBride says it is important for Alliance Funding Group to be involved in some of these smaller financing transactions because eventually these organizations will get more revenue and more traffic and "will want to expand and grow their business and hopefully myself or anyone else in the financing world can help them, to assist them in that expansion," he says. The process of getting financing for a sign project is very similar to that of buying a piece of equipment but there's also unsecured working capital solutions as well, McBride points out. For something like a vehicle wrap, a client could get unsecured financ- ing that is for a shorter term. Unsecured means there is nothing backing that note. No collateral. "It is a riskier note," he says, but there's very limited documentation needed for that, just the most recent three months of bank statements and a credit application. By partnering with a finance company, sign shops are more likely to keep their customers, especially if they ask what is available for financing or payment options. When a shop says they don't have financing or payment options, the client is likely to go find another business that offers that option, McBride says. "For the sign shop, it is just getting involved or getting a financing option or quote out there early on and including it on every transaction or quote they provide," he says. "It will help increase conversions and will increase the size of the job as well because now instead of $25,000, the end customer is looking at it and saying I could pay $495 a month for five years. They can justify that into their budget." Jay Driscoll, regional sales manager for Geneva Capital in Alexandria, Minnesota, says that his company specializes in financing signs. "By partnering with someone like me, I understand collateral, under- stand the process and should be able to be pretty aggressive in financing it," he says. Geneva Capital offers both lease-to-own and finance options. "We do offer things like no payments for the first three months, which gives a sign time to be ordered and installed before they need to start pay- ments," he says. "The process for ordering a sign, from order to install is eight to 12 weeks." By partnering with a finance company, sign shops are more likely to keep their customers. The Board Handling System BHS150. T: 414-433-0700

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