Equipment Leasing Blog

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Friday, January 22, 2010

Equipment Leasing and Credit Scores

Equipment leasing goes hand in hand with credit scores. When you apply for a lease, you're hoping for a quick approval, not an extensive investigation. Understanding what equipment leasing companies are looking for from your application is the first step in strengthening your leasing application. At Tiger Leasing , we compile information from different credit reporting sources. For a more specific look at what Tiger Leasing takes into account when considering leasing application, please read our Credit Scores and the Lease Approval Process.

We utilize the Dun & Bradstreet Report to learn more about your company and its payment history. When evaluating your application, we take into account your PAYDEX score, the higher your PAYDEX score, the better!

When businesses are closely held, Tiger Leasing will look at credit bureau reports on individual owners. These credit bureau reports give us an idea of payment histories and outstanding borrowings. Tiger Leasing uses the Experian credit reporting bureau for a report that calculates a FICO score. As with the PAYDEX score, the higher your credit score, the better your chances of securing a lease with us.

Tiger Leasing encourages all businesses and individuals to check your credit report periodically for errors. According to recent studies, almost 80% of credit reports contain errors and almost 25% have mistakes serious enough to cause consumers to be denied credit.

Tiger Leasing relies on credit scores when evaluating potential leasing applications, though they are not the only factor we consider. Your business history, professional experience and cash reserves are also taken into account. At Tiger Leasing, we strive to discuss every aspect of our leasing applications with potential customers, pointing out both the good and bad information we find. Our goal is to make the application process a smooth one, so you can attain the equipment your business needs.

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posted by Tiger Leasing @ 10:54 AM 0 Comments Links to this post

Monday, January 11, 2010

Tiger Leasing's Top Ten Favorite New Year's Resolutions...

New Year's Even may be over, but the year has just begun! Here at Tiger Leasing, we've put together our favorite goals for the New Year. What are you going to focus on changing in 2010? What steps are you taking to make sure your resolutions and goals become a reality? Let us know in the comments section!

10.) Learn Something - Broadening your horizons by learning something new is a great goal for 2010. Whether you've always wanted to learn a new language, or you've been looking to improve your computer skills, there are resources everywhere. Check out your local schools and colleges for classes they offer. Head over to the library for books on the subject. Ask your family, friends or business network for resources and tools to help you learn something new!

9.) Make an Appointment - When was the last time you had a health check up, a dental exam, or a massage? Book an appointment you've been putting off, for whatever reason. Take care of yourself in 2010.

8.) Go Green - Why not do a little something for the environment this year? Did you know that washing your clothes in cold water is good for the environment? Frequent the local Farmer's Market when it warms up and support the earth and your neighbors. Pick up some houseplants for the office, they will be easy on the eyes and good for the lungs! You don't have to do anything drastic to make your life a little greener.

7.) Join Up - Is there a professional organization you've been interested in joining? Have your friends been asking you to commit to a basketball league or book club? Joining a new group will allow you to meet new people, explore your hobbies, and create a more balanced, active lifestyle.

6.) Help Others - By doing something for a family member, friend or complete stranger; you will be making a difference. Donate your old clothes, give to the food pantry or take an animal from the local shelter for a walk. Get a group together to do any of these things, and you'll be making more of a difference than you know.

5.) Go Somewhere New - Whether you've had your eye on that new book store, or you've always wanted to go to Scotland, make this your year to explore somewhere new. You never know what you'll find, and it will add a sense of excitement and adventure. Make 2010 memorable by discovering a new destination.

4.) Embrace Change - Let your life change, and be happy about those changes. Change is good, and allows you to grow personally and professionally. While change isn't always easy, look for the best in every situation and help others see the good in transformations as well.

3.) Get Healthy - According to the Obesity Society, "Obesity is the most prevalent, fatal, chronic, relapsing disorder of the 21st century." Make the time to do something for your health, whether you replace that morning doughnut with a piece of fruit or start heading to the gym for some exercise, it's important to take the time and make the decisions to benefit your health.

2.) Communicate More - Who doesn't get caught up in their own day to day problems? How many of those problems arise from miscommunications? Work on really listening to what other people are saying. Make sure your words and nonverbal cues are really conveying what it is your feeling. Have more conversations with the people who matter the most to you. Open new lines of communication at work and at home.

1.) Have Fun - Life is Fun, and it's important to take note of the moments when that is obvious! Recognize the little things that make life enjoyable, and focus on them! Take the time to create more of those moments, and have fun in your life, both at work and at home.

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posted by Tiger Leasing @ 10:11 AM 0 Comments Links to this post

Tuesday, January 5, 2010

2010 - The Year to Get Smart about Setting Business Goals

The holiday season is over and the New Year is here. As people are making personal resolutions and plans, many business owners are making important decisions and setting goals for their businesses as well. As any business person can tell you, setting goals is different than actually achieving them. Why not take the time to really evaluate your business, get a good understanding of where you are right now, really think about where you want to be, and take a realistic look at how you can get there? Now is the perfect time to evaluate your business and figure out how to set smarter goals that you can achieve this year and in the future.

The first step in getting smart about setting goals for your business is to take a good look at where you are right now. You need to be realistic. Tough questions may be hard to answer initially, but will pay off in the end.

Some questions to ask:

  • What do my finances look like?
  • What debt do I have?
  • Do I have a large client roster, or just a few large accounts?
  • How much market share does my company have?
  • What am I doing to rise above the competition?
  • How has my industry changed in the past year? Am I keeping up with those changes?
  • How can I become more valuable to my customers?
  • Do I understand my customers? Do I know how or what I am providing for them?
  • What areas of my business should be running more smoothly?
  • Can I hire new employees to make the business run more efficiently?
  • What training or education can I get for myself or my employees this year?
  • What support system have I created? Do I have a mentor or business adviser?
  • How could we expand, geographically or with new products or services?
  • What are some strategies I can use to build my business?

Once you've evaluated your situation and reflected on your business, you can look forward to where you want to go in the next year. Understanding your current situation allows you to make reasonable and attainable goals for the future. Create a record of your goals by putting them on paper. This gives you something to focus on, a visual reminder of what you're working towards. Sharing your goals with others you trust is another step in achieving your objectives. Trusted business associates, family, or friends can keep you on track.

Make your goals specific and realistic. Take your big dreams and break them down into short term objectives. Instead of focusing on increasing your sales by next year, figure out how much you want to increase your sales by each quarter. Long term goals are important, but the short term objectives will be easier to accomplish and make your big picture ambitions easier to attain.

Once you've broken down your big picture goal into short term objectives, you have to prioritize them. Figure out what needs to be taken care of in the short-term, and what is more realistic in the long-term. Your deadlines could range from the end of the day to the end of the year; some may even have a date even further into the future.

So now that you've got both your big picture goals and your short term objectives established, it's time to get to work! How are you going to turn your goals into a reality?

Look into all of your options. Ask those in your business network that you trust for information and resources. Get creative about how you work towards your goals. Are you unable to send all of your employees to an industry seminar? Look for Webinars employees can view from work. Can't afford to buy the new computer equipment or software you need to stay competitive? Equipment leasing offers great opportunities! Do you need some trusted advice or an outlet for business discussions? Look for a qualified business coach or peer advisory group.

The road to reaching your goals won't always be a straight and easy one. There will be twists and turns and bumps in the road. By asking the tough questions, developing realistic short and long term goals, you will be well on your way to making smarter decisions and goals for your business in 2010.

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posted by Tiger Leasing @ 11:37 AM 0 Comments Links to this post