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Online Equipment Rental Tech Start-up to Offer Equipment Leasing

April 24, 2017, 07:05 AM
Filed Under: Industry News
Related: KWIPPED, Rental

KWIPPED, the online b2b equipment rental marketplace, announced the company will be launching an equipment leasing program. KWIPPED's proprietary platform technology facilitates equipment rentals between businesses, organizations and professionals that need to rent specialty equipment and a global network of pre-qualified suppliers. According to Wellington Souza, the company's CTO, KWIPPED will begin offering customers the option to rent or lease equipment before the end of April. KWIPPED offers renting and will soon begin offering leasing of a vast array of equipment spanning more than 20 industries including: lab and medical, electronic and environmental test, audio-visual, surveying, construction and more.

"We built our online rental businesses for organizations that need short-term access to highly specialized equipment, but may not have the desire or capital to purchase it. However, there are many organizations that need equipment for longer periods of time, or even permanently, but still can't or don't want to purchase it outright. Equipment leasing fills that gap by offering longer terms at monthly rates that are typically lower than rental rates. Ultimately, whether it's short or long term needs, KWIPPED is enabling businesses and professionals to easily obtain the equipment they need through affordable, non-purchase options," explains the company's founder and CEO, Robert Preville.

By 2020, commercial investment in equipment and software through financing methods (including leasing) is expected to top $1.24 trillion.* While some of the equipment and software categories within this market fall outside of KWIPPED's offerings there is still a great deal of overlap, and leasing represents a massive new market opportunity for the company.

KWIPPED has partnered with multiple leasing companies that specialize in equipment leasing within the various specific business industries the company serves. Says Preville, "Our renters can come to the site, compare rental rates from multiple suppliers and leasing rates from multiple leasing companies and have all the information required to make the best equipment procurement decision. We think of ourselves a bit like the "Lending Tree" of equipment leasing and rentals. Everything an organization or professional needs to acquire virtually any type of equipment, is now at their fingertips."

KWIPPED also believes they can attract many more equipment suppliers that may not have rental inventory available but are certainly willing to offer equipment through a lease. "To the supplier, a lease looks and feels just like a regular sale because the leasing company is actually purchasing the equipment from the supplier. So, we think equipment distributors will jump at the opportunity to earn sales revenue though a whole new online channel with virtually no effort," explained Preville. KWIPPED places a great deal of emphasis on recruiting only highly reliable suppliers with quality equipment and all prospective suppliers go through a pre-qualification process before being approved. In KWIPPED is currently accepting supplier applications from businesses interested in renting and/or leasing their equipment inventory to KWIPPED's online renters.

"Organizations and individual professionals need equipment to get their jobs done and purchasing isn't always the best option. We've built a platform that makes it easy for users to find the equipment they need and compare options for the best method of acquiring that equipment," concludes Souza.

KWIPPED’s worldwide headquarters is located in Wilmington, NC.

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