Key Equipment Finance's Brian Madison recently sat down with the Equipment Finance Advisor to discuss how equipment finance companies need to culturally transform from “product financiers” to “solutions financiers” in order to meet the evolving needs of borrowers and lessees.
"There is a change in the marketplace that's in front of us and it happens to be people are getting used to acquiring goods a certain way now, more on a consumption or utility basis," says Madison, senior vice president, U.S. manufacturing & vendor alliances for Key Equipment Finance, "and therefore we as an industry have to move away from being product financiers to solutions financers."
The resulting eqiupment finance solutions are often described as non-standard financing agreements, a specialty of Key Equipment Finance.
"It's really undrestanding deeply what the client is looking to accomplish," Madison says.
He goes on to describe the benefits and risks from this industry trend.
Learn more by viewing the entire video here: .