Leasing Program for Industrial Carts Sees Strong Launch 

August 17, 2016 0 Comments Events 808 Views

The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $1 trillion equipment finance sector, showed their overall new business volume for June was $10.0 billion, up 3 percent year-over-year from new business volume in June 2015. Volume was up 47 percent month-to-month from $6.8 billion in May. Year to date, cumulative new business volume decreased 7 percent compared to 2015.

Credit approvals totaled 78.1 percent in June, up from 76.5 percent in May. Total headcount for equipment finance companies was up 3.0 percent year over year.  Separately, the Equipment Leasing & Finance Foundation’s Monthly Confidence Index (MCI-EFI) for July is 52.5, steady with the June index of 52.3.

ELFA President and CEO Ralph Petta said, “New business volume experienced a healthy increase in June, eclipsing a similarly strong year-ago month. In fact, June’s originations were the largest since end-of-year 2015, when business activity in the equipment finance sector typically spikes upward.”

Topper Industrial, the leader in the North American Fork Truck Free movement, announced a strategic alliance with GSG Financial LLC. From large manufacturers to Tier 3 suppliers, the adoption of Fork Truck Free is much easier to consider with the new equipment leasing option. According to Ryan Brown, President of Topper Industrial, “Many manufacturing businesses prefer equipment leasing as a way to calculate rapid return on investment (ROI). The benefits of this new arrangement with GSG Financial extends beyond the prospect of conserving cash. Equipment leasing offers advantages that are often overlooked such as reducing business risk and improving financial flexibility.”

Ed Brown, founder of Topper Industrial and known as the Father of the North American Fork Truck Free movement shared, “We selected GSG Financial because they specialize in delivering turnkey customer financing solutions for material handling vendors. GSG’s expertise spans hardware, software, and services financing across a wide range of application and product categories. Their master lease program allows quick and easy asset additions over the term without re-negotiating terms and conditions. By partnering with GSG Finance, manufacturers can focus on selling and servicing their customers, while relying on a proven team of financing experts to deliver flexible and creative financing offers focused on driving revenue growth.”

GSG Financial LLC CEO Andrew Bender, also shared his excitement about the new strategic partnership with Topper Industrial noting, “Topper Industrial is well-respected as the best-in-class industrial cart manufacturer. We know Topper Industrial does not cut corners. We are here to make the purchase of these exceptional products easier. Often for less than $100 per cart makes the purchasing decision quite easy. We are delighted to make this possible for customers of Topper Industrial.” http://www.topperindustrial.com/leasing/

From an industry perspective, it is encouraging to see U.S. businesses increase their investments in capital equipment and software, despite political uncertainty and global macroeconomic events.

Topper Industrial

Article submitted by Jillian Burrow, Marketing Manager for Topper Industrial

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