I Have a Quote - Now What? A Buyer’s Guide to Next Steps, Timing, and Delivery
For equipment dealers and equipment sales teams, we know you’re focused on running your business and closing deals, not navigating complicated financing. You can have the right equipment, the right pricing, and a customer who’s ready to move forward and still lose the deal. But when financing enters the conversation, it gives customers an opportunity to move forward more quickly.
When you understand what happens behind the scenes with your funding partner after obtaining a quote, you can keep the deal moving. That’s why we’ve made our equipment financing process as simple and transparent as possible, with clear steps, a fast turnaround, and a team that keeps you informed along the way - for both you and your customers.
Our Process
1. Application submitted
We receive your application and begin the review process.
2. Credit review/underwriting
Your application is reviewed based on transaction size and requirements. Additional business or financial information may be requested if needed.
3. Approval communicated and terms confirmed
Approval is communicated to the vendor, dealer, and/or borrower as requested. Once approved, program details, term, and structure are confirmed.
4. Documents sent and signed via DocuSign to customer
Documents are prepared and sent electronically for signature, providing a fast and secure process.
5. Purchase order issued to dealer partner
Once documents are completed through DocuSign and any required down payment is received, a purchase order is issued to the vendor/dealer.
6. Invoice submitted
The vendor/dealer provides the final invoice for funding.
7. Final review completed and funds released
Once final requirements are complete, including invoice review and any required verbal audit, payment is released to the vendor via check or direct deposit. Generally funding is completed after equipment has been received by the customer, but pre-funding (prior to delivery) arrangements can be made, if qualified.
8. Welcome packet sent
After funding is complete, you receive a welcome packet from First Western with information for setting up your online account and managing payments with ease.
What This Means for You as a Dealer or Vendor
An efficient financing process doesn’t just benefit the customer. It also directly impacts your ability to close deals and grow your business.
When financing is built into your sales process:
- Customers finance the equipment they actually need, not just what they can afford upfront, increasing productivity
- Pre-qualified buyers can move from intake to funding in some cases just a few days, not weeks
- You maintain control of the entire buying experience, from equipment selection to approval
Instead of confusing customers, creating friction, and going back-and-forth on the phone, you’re there for the customer with answers at the most crucial stages.
At the end of the day, financing shouldn’t be the bottleneck that slows your deals down. It should and can be what helps move them forward!
When the process is clear and easy to navigate, your customers feel confident saying yes. Having the right financing partner makes all the difference. If you’re looking for a better way to support your customers and win more business, contact our team at First Western Equipment Finance. Because when financing is easy, selling equipment becomes easier too.
Disclaimer
Content provided for informational purposes only and is not tax or legal advice. Consult your tax advisor or legal counsel regarding your specific situation. Financing programs, eligibility, terms, and timelines vary and are subject to credit approval.