Dealers can now help their customers increase their buying power and sell more in these challenging times.
Restaurants continue to operate under a range of state-mandated guidelines. Most require investing in new equipment and supplies to remain in compliance. These new requirements, coupled with a loss in revenue over the last several months, means that many operators don't have cash on hand for large purchases. Dozens of hand-sanitizing stations, new air-filtration systems, and PPE required to staff a restaurant are not insignificant expenses - especially for a small business. For these customers, foodservice equipment financing could be the right option to stay in compliance, and keep those doors open.
AQ launched AQ Pay earlier this year, giving dealers an easy way to provide customers with instant payment options directly from an AQ quote. Now, through AQ Pay, you can include financing through Currency as an option within the AQ Pay widget. Foodservice equipment financing can provide the resources your customers need to get the equipment and supplies needed in hand quickly. We want to share some additional information about the unique benefits of financing through AQ Pay and Currency for you and your customers.
The Currency Difference
Currency has a prominent presence in the foodservice equipment financing space and has provided more than $5.5 billion in financing for more than 300,000 buyers. With a network of more than 70 lending institutions on its platform, Currency works with customers of all sizes. Even as COVID-19 has tightened credit boxes, it still supports a broader range of credit profiles than most other financing companies.
Through the integration with AQ Pay, your customers can pay by ACH, credit card, or select financing right from an AQ quote to keep the sales cycle moving. You can also implement it at your point of sale and embed a link on your website, creating a streamlined process across your channels. Plus, it allows your customers to apply for financing 24/7, with or without a quote.
Financing vs. Leasing
Equipment leasing is a common practice in the FES space, but financing can provide better benefits, especially for larger purchases. Leasing allowances are often limited, leading to elevated payments with high-interest rates and strict binding contracts that must be adhered to through the end of their term. With financing, your customer owns the equipment at term-end. Customers are also eligible for equipment upgrades, more competitive rates, and tax deductions. Also, by quoting energy-efficient equipment eligible for instant rebates listed on AQ, your customer receives immediate savings at the point of purchase. Through AQ's partnership with Energy Solutions, dealers can earn incentives on each piece of rebate-eligible equipment sold. Saving your customers money, earning incentives, and increasing your margins for selling higher-priced equipment is a no brainer.
A Digital Payment Experience
By leveraging AQ’s Quote Acceptance and AQ Pay features, you can provide a seamless digital payments experience that customers expect. Including quick access to financing, through AQ Pay, your website, or another channel, and you've made it easy for your customers to connect to Currency's platform.
Implementing AQ Pay and financing as a payment option through the AQ Pay widget is simple and free. To learn more about AQ Pay and additional financing benefits through Currency, connect with the AQ sales team at sales@AQ-FES.com. In the meantime, you can log in to MyAQ to access our recent webinar with Currency focused on the financing process.