Atlanta, GA (Press Release) January 2, 2008 – For almost any small to medium sized business, financing equipment can be an ordeal. Especially the "submit your financial records and wait two weeks for an answer" part. The problem is often magnified when a business attempts to finance costly, industry-specific software. Since many financial institutions do not see software as a tangible asset, the approval process is often tedious, and, in many cases, fruitless.
Solving this dilemma was squarely in the sights of equipment financer Crest Capital, who have launched a new "application only" software leasing and financing service. Since Crest Capital provides small and medium sized businesses with equipment financing, National Account Executive Charlie Hanavich knew that the mechanisms were already in place to offer software financing.
"We've been providing 'traditional' equipment financing for businesses for almost two decades" says Hanavich "and we were seeing a growing need in the area of software financing. We're simply responding to what the market wants."
What makes Crest Capital's new software leasing program stand out is its simplicity – with a free software leasing calculator monthly payment quotes are available instantly. Customers need to only submit a simple online application for up to $125,000 in financing, and they will typically get an answer within one business hour. This is a far cry from traditional financing avenues, something that Hanavich was all too happy to point out: "The typical way to get financing is to submit tax forms, financial statements, and whatever other information you're told to give." remarked Hanavich "Then you wait – sometimes for weeks - before getting an answer. Our new software financing program eliminates this completely. One application, which you can submit online, and you'll have your answer – fast."
Of course, the program must also address the other "software financing" roadblock that businesses come up against – the very nature of how finance companies view software. As Hanavich notes, they can be slow to recognize software as an asset: "Many traditional financial institutions frown on financing something they can't actually touch." said Hanavich "But today, industry-specific software like a point-of-sale or an ERP system is often the nerve center of the entire business. It can also be very expensive, as this is software you can't just buy off the office supply store shelf. So of course it has value. We recognize that, and, with our new program, will happily provide financing for almost any company's software needs."
This program also benefits software developers and sellers. A software developer offering financing on their applications and modules has a distinct advantage over developers who do not. Especially when the applications are niche-based and specific to particular industries, which always ups the cost.
To learn more about Crest Capital's new application only software financing program, visit their website at www.crestcapital.com
About Crest Capital
Crest Capital provides small &medium-sized businesses the financing they need, at better rates while eliminating the hassles of traditional bank financing. Clients simply follow a simple application process, without the need for bank statements or tax returns, and receive a decision almost immediately (as opposed to weeks). Whether a business needs financing for vehicles, electronics, furniture, business expansion, software, working capital, or almost any other reason, Crest Capital is there to help. They can be reached at 800-245-1213 or online at www.crestcapital.com
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