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LeaseQ, ARF Financial Partner to Automate Hospitality Equipment Financing

September 13, 2017, 07:14 AM
Filed Under: Restaurant

LeaseQ announced a national partnership with ARF Financial, the only FDIC-compliant financial lender that provides short-term, unsecured business loans and lines of credit for restaurant/hospitality business owners and retailers nationwide.

“We are unique in having our own sales organization, and LeaseQ gives our loan consultants around the country a lease product with instant quotes,” ARF Financial CEO Steve Glenn said. “Now we are a one stop lender offering additional products to satisfy our customers funding needs for their businesses.”

Innovations in the equipment finance industry will continue to increase flexibility and convenience for customers, according to the Equipment Leasing and Finance Association’s (ELFA) Top 10 Equipment Acquisition Trends for 2017. Automation fuels advances in instant quotes, soft credit pulls, same-day approvals, one-day funding and blockchain for secure, multi-party transactions – many of which are available today through LeaseQ and ARF Financial.

“You can finance a car in an hour, but not a walk-in freezer to start or expand a restaurant,” said Vernon Tirey, co-founder and CEO of LeaseQ. “One-day funding is a trendy thing to say in equipment financing, but when the restauranteur or hotel manager presses the button to get financing, it has to work. We’re advancing our technology and partnering with lenders like ARF Financial who understand the value of automation to make it happen.”

LeaseQ and ARF Financial offer automated, flexible equipment financing for hospitality merchants who are frustrated with the time it takes to get a bank loan, or who cannot get a bank loan at all, including those:

  • Expanding a facility
  • Upgrading equipment
  • Adding a location and renovating the property
  • Managing working capital, and more

There are currently 150 lenders on the LeaseQ platform serving 28 vertical markets.

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