Vendor Programs

As a provider of health care equipment you have many choices in selecting a financial partner, but who can bring the optimum leasing program to your customers? When you recommend a leasing source, they become an extension of you and your company. They perform well, you look good. They perform poorly, you look bad.

LAB provides competitive rates that withstand close scrutiny especially when all factors are considered. (See Beyond the Rate ) Throwing out a great rate to your customer without having it backed up by a clean contract and a reputable lessor can lead to problems that will jeopardize your sale or future sales!

The competitive rates we provide are just one of our strengths as your leasing partner, below are other key components that we bring to the relationship…  
35 years of specializing exclusively in the healthcare marketplace gives LAB unparalleled experience. We have seen just about everything, and we have learned how to make the leasing process work most efficiently to benefit you and your customer in almost any situation. LAB has dealt with thousands of clients through the years, and many will recognize our name when you bring LAB paperwork in to the account.  

Our familiarity with the medical market, and the laboratory sector in particular, has solidified LAB’s reputation as the premier independent lessor for vendors and end users alike, evidenced by our large number of repeat customers.

LAB has worked successfully with many diagnostic equipment vendors, large and small, over the past 35 years. This is not just some typical website claim, we urge you to check with your customers and fellow sales reps for a recommendation!
Nothing is a bigger turn-off to your customer than dropping a mountain of paperwork on them, particularly when it comes to leasing. Your contact will probably forward the stack of documents up the ladder to a contract person, who may send them on to legal. The more concise these documents, the faster the turnaround and the faster you get your P.O.!

LAB’s lease is only TWO pages, and may be sent directly to you or to your customer (your call). Our document is concise and to the point (again, see Beyond the Rate ) and presents a clear and direct lease approach for your sales effort. No signature authorizations, incumbency certificates, board resolutions or other “delay documents” to slow down the process, or in some cases, kill the deal! 
Your first step in completing a sale is to reach your LAB sales contact, via phone or email, so lease paperwork can be generated.

Armed with equipment specifications, we can generate a lease document and e-mail it directly to you, or to your customer (again, your call), as rapidly as possible to meet your schedule, not ours. Typically, we prepare and return a lease contract within 24 hours or less.

Credit is normally approved promptly (again, 24 hours or less) following our receipt of a signed lease and a minimum of credit information and a P.O. issued immediately thereafter.

NOTE: No “scheduled” credit meetings to slow things down!

Document change requests are frequent and discussed at length under FLEXIBILITY. The response to these requests is critical, even if some cannot be accommodated.  

Overall, LAB is acutely aware of your need to get the leasing component completed as promptly as possible. Your time is best spent facilitating sales, not waiting on a leasing company.
As our mutual customers have become increasingly sophisticated with the leasing process and are more inundated with regulation than ever, required alterations to standard lease terms have become more predominant. Our experience has bred a flexibility that accommodates many of these requests or finds middle ground and it allows us to respond in a matter of hours, if necessary, not days. Nothing slows down the process more than protracted negotiations over terms and conditions. You will not hear the dreaded phrase “it’s still in legal” from LAB.

Your customer needs a “FASB” lease? We have been structuring operating leases well before these requirements became fashionable.

  FASB stands for Financial Accounting Standard Board, the people who set   accounting rules. Much ink is given to what constitutes an operating lease   as opposed to a finance lease. Operating leases are deemed advantageous   to many as true “rentals”, aligning with operating budgets and accounting   requirements. Finance leases lead to ownership and fall on the capital side   of the accounting ledger.

Not all leasing situations can accommodate a FASB requirement, but LAB’s flexibility gets many of them done. Again, our long-standing experience has allowed us to successfully navigate FASB structures.

In conclusion, just as many factors figure in the sale of your equipment, such as price, technology, reliability, ease of use, customer service, reputation, etc, so should your selection of financial partner. Pricing/rates are certainly a key component, but just one of many factors.

LAB offers highly competitive rates, plus we bring so much more to the relationship based on our knowledge and experience to get deals done for you. After all, we live, eat and breathe medical equipment leasing!