Serving the greater West Michigan area, JDE Concrete offers concrete construction for residential, commercial, and agricultural customers. JDE also takes on specialty projects, like waterproofing, epoxy flooring, and decorative and stamped concrete.

Since being founded in 1997, JDE has expanded their equipment and services to handle any concrete project from start to finish. Being able to manage a project of any size requires a large range of equipment, which is why JDE has invested heavily in its fleet of concrete pumps, cranes, and conveyor trucks.

To better meet their clients’ needs, grow their fleet, and expand their market share, JDE needed a trusted financing partner. Team Financial Group proved to be the right lender for the job, and we’ve formed a strong and durable partnership that’s lasted twelve years (and counting).

Team Financial Helps JDE Pave the Way to Success

Joel Eerdmans, owner and founder of JDE Concrete, started out by paving driveways. Since then, the operation has grown immensely, as JDE’s reputation for quality work and great service has spread. Strong growth requires capital, and Eerdmans says Team Financial has been essential in this regard by providing the support his company needed.

JDE first contacted Team Financial because they struggled to find a bank that would help finance their expansion. They were seeking a reliable financing partner, and Team Financial Group never wavered in their commitment to helping JDE grow.

“Initially, they provided funding and sound advice when we bought our Greenville operation, which really was key to the growth of JDE,” says Eerdmans. “Thereafter, Team was creative in helping us acquire our current building by providing a quick and easy sale leaseback to buy the property, which allowed me to not only move fast but also saved us significant closing costs and headaches too.”

As a commercial lender, Team Financial Group doesn’t have to answer to the stringent requirements that govern traditional lenders like banks. We can find a solution that will help our client grow, while making sure their cash flow stays healthy.

RELATED: What Is a Sale-Leaseback, and Why Would I Want One?

JDE Concrete truck working at a jobsite

More Than a Lender: A Trusted Advisor

While Eerdmans was initially looking for an independent lender with the flexibility and agility to meet JDE Concrete’s financing needs, he found that Team Financial provided even more. The business advice and guidance he received from Team Financial has been pivotal to navigating acquisitions.

“I most certainly view Team as if they are part of my unofficial Board of Directors,” comments Eerdmans. “They are experienced and sharp. More importantly, they care. I know they want me to win, even if their advice doesn’t benefit them.”

At Team Financial Group, our biggest goal is to see our clients succeed. Clients come to us from unique situations, which is why we prefer to customize a financing solution that will work best for each of them individually.

Just like with JDE Concrete, we can help you determine the best path forward for your business, even if it doesn’t help our own bottom line. Because we put our clients first, they know they can trust us to give them honest answers.

Joel Eerdmans, owner and founder of JDE Concrete

What Kind of Curb Appeal Can Team Financial Add to Your Business?

If you are looking for a lender with the flexibility and agility to finance your business growth, you’ve come to the right place. Team Financial Group has the expertise and experience to make sure you have the right equipment for the job.

We offer many different financing options, often with same-day approval, so you don’t waste a day waiting on the equipment you need. To get started, give us a call at 616-735-2393 or fill out our short online contact form. You’ll get the same commitment from us that we give to JDE Concrete because we want to see your business succeed too!

Company growth and sustainability require investment. Among the best investments are specific items a company owns, called assets, that generate revenue.

Selecting assets and determining the best way to pay for them can be complicated, however. Even if you know a certain piece of equipment or technology will greatly increase productivity, that doesn’t mean the money for that asset magically appears.

Fortunately, help is available in the form of people who understand your industry and how to finance assets typically needed for success within it. Whether you’re just starting out and trying to build your baseline assets or are ready to upgrade and keep pace with your growing business, it pays to work with an experienced financing partner.

This article will dig into what assets are and how they support revenue generation. We’ll also talk about the financing options that can make it easier for you to acquire the assets your company needs.

What Is a Business Asset?

Before we get into acquiring and financing assets, let’s be clear on what exactly defines a company’s assets.

Rest assured that the concept of an income-producing asset doesn’t have to be complicated. If your head’s already swirling with concepts like dividend-paying stocks, your investment portfolio, certificates of deposit, taxable income, and interest rates, know that the idea of income-generating assets is as simple as a savings account. No need to even think about the stock market as we explore this subject!

The generally accepted definition of a business asset is something a company owns that has value and either generates revenue or can be turned into cash (liquidated). Assets usually fall into one of two categories:

  1. These physical assets include buildings, vehicles, equipment, and other items that are regularly used and eventually used up. Tangible assets are listed on a balance sheet and may be written off as expenses.
  2. These conceptual assets include reputation, brand, and intellectual property (like logos and software). Intangible assets aren’t listed on a balance sheet, but they can certainly help generate revenue.

The generally accepted definition of a business asset is something a company owns that has value and either generates revenue or can be turned into cash (liquidated).

Tangible assets are further broken out into another two categories:

  1. Current. Current assets are expected to be liquidated within a year, such as inventory or debts owed by customers.
  2. Non-current. Non-current assets are expected to be used by and provide value for the company for more than a year, such as a building or computer.

So, for a typical company, assets can include:

Some verticals, such as real estate investment trusts, are fully focused on income-generating assets. Owning, operating, and sometimes financing properties makes real estate investing completely dependent on its assets.

All the items listed above play an important role for the company by contributing to revenue generation in some way. While machinery and products do this in very physical and literal ways, websites and logos do it by driving interest and establishing the brand.

Assets vs. Liabilities

Where assets add value to a business, liabilities are what the business owes, such as employee payroll, vendor bills, and rent. Ideally, the value of company assets is larger than liabilities, resulting in a greater net worth

Be aware that leased assets (as opposed to owned assets — more on that shortly) may be listed as both assets and liabilities.

RELATED: Xtreme Xpress Uses Flexible Financing to Explore New Opportunities

Equipment Assets Are Unique

Any asset is going to cost money, though the costs impact businesses in different ways. When it comes to equipment assets, your business may have less financial wiggle room.

For example, inventory and intellectual property can be ongoing costs you plan for every month. Perhaps this is how you pay for retail items or marketing. These relatively predictable costs might even be adjustable under certain circumstances.

Equipment, however, is more likely to be large, one-off purchases. A restaurant is only going to buy a new stove once a decade, and a copy machine should last at least a few years. If equipment breaks unexpectedly, you may have minimal time to shop around and negotiate price points.

In addition, equipment is usually vital to a business. Manufacturers can’t produce without the right machines. Office staff can’t work without reliable computers. For those trying to get a new business off the ground, basic equipment can be a make-or-break factor.

RELATED: What Is the Simple Rate of Return (And How Can It Help My Business)?

Manufacturers can’t produce without the right machines. Office staff can’t work without reliable computers. For those trying to get a new business off the ground, basic equipment can be a make-or-break factor.   

Equipment Is an Income-Generating Asset

The importance and potentially unpredictable costs of equipment might seem intimidating. It may be helpful to think of your equipment needs in terms of phases, focusing first on the things you absolutely need to operate and then planning out for items that will support your growth.

When it comes down to it, your essential pieces of equipment are income-generating assets. Without them, you can’t do the thing you exist to do, the thing that keeps your business profitable and sustainable. This makes the initial investment well worth it.

Extreme examples of the best income-producing assets are those that double as passive income, not requiring you to do anything other than maintain the equipment. Think of passive income as the money you make on something like a vending machine — you barely have to lift a finger to earn from it. Most income-generating assets, however, are only part of the plan.

When it comes down to it, your essential pieces of equipment are incomegenerating assets. Without them, you can’t do the thing you exist to do, the thing that keeps your business profitable and sustainable. This makes the initial investment well worth it.  

For example, if you manufacture a specialty facial cream, each container needs a label that lists ingredients, warnings, and your brand. A computer and printer that easily organize, store, and print these labels will drive increased capacity and efficiency. Or, if you have a small mechanic shop, basic equipment like a hydraulic lift and air compressor are necessary for serving customers; you can’t run the shop without them.

Later, when you’ve established your company and are ready to expand, upgrades and new equipment will keep you moving toward your goals. With proper planning and financing options, this cycle of equipment purchasing and upgrading can be a routine piece of your budget.

RELATED: Business Health: How Equipment Financing Can Help Your Cash Flow

Financing Income-Producing Assets

It doesn’t matter how essential a piece of equipment is to your business — if you can’t pay for it, you can’t access it. Further, you may not relish the idea of working with your usual bank for this highly specific form of financing.

Fortunately, financing business equipment becomes much more straightforward when you work with a lender who understands your industry. Team Financial Group supports customers and vendors who recognize the value of investing in equipment and want a lender who can customize a solution.

RELATED: Get These Tax Benefits With Commercial Equipment Financing

Financing business equipment becomes much more straightforward when you work with a lender who understands your industry. Team Financial Group supports customers and vendors who recognize the value of investing in equipment and want a lender who can customize a solution.

Buying vs. Leasing

As with many big-ticket items, equipment financing can help you buy or lease. What you choose depends on a range of factors.

Buy: Buying requires more cash or credit upfront, and means you’ll be fully responsible for the equipment you purchase. At the same time, the overall cost is usually less than a lease and the equipment gets a spot on the balance sheet.

Lease: Leasing tends to be more expensive, overall, than buying, and you may need to replace equipment when the lease is up. Still, this is a great option for new and small companies who can’t front much cash or credit and have fewer resources for maintenance.

No matter where you are in your business journey, Team Financial Group offers financing options for you. We’ve helped companies in a range of industries and for all kinds of asset acquisition.

RELATED: Loans, Leases, and Finance Agreements: Which One Is Right for My Business?

Contact Team Financial Group to Finance Your Income-Generating Assets

Team Financial Group delivers fast, flexible financing through common-sense lending. We are proud to offer customized options with more flexibility than the bank and we work hard to build and maintain strong relationships with our customers and vendors.

If you’re looking to finance equipment for your business, trust our team to guide you through the process. We partner with customers in manufacturing, energy, construction, technology, transportation, agriculture, and more to provide guidance as you change and grow.

If you want to get started today, call (616) 735-2393 or use the simple contact form on our website. We look forward to hearing from you!


Beaver, S. (2022, July 7). What is an asset? Types and examples in business accounting. Oracle NetSuite. Retrieved from

Buy assets and equipment. (n.d.). U.S. Small Business Administration. Retrieved from

Liberto, D. (2020, Nov. 27). What is a business asset? Investopedia. Retrieved from,items%2C%20such%20as%20intellectual%20property.







We’re starting to hit that sweet spot with electric vehicle (EV) charging stations – most of the early bugs have been worked out and the cost-benefit analysis is becoming very reasonable. Plus, you can still sneak in as an “early adopter” of EV charging, getting an edge over your competitors by providing an extra service to draw in customers and employees.

Major auto manufacturers are focused on an electric future, and consumers are on board, as evidenced by the fervent hype for Ford’s F-150 Lightning electric truck and its potential applications. Consumers are increasingly seeing the benefits of EVs, especially with gas prices skyrocketing across the country.

If you’re considering a fleet of electric vehicles for your business, or testing out your own EV, your first consideration is how to recharge the batteries. There are numerous benefits to installing an EV charging station, but what if you don’t have the cash on hand? Between the tax incentives and financing options, it’s easier than you think to buy electric vehicle charging stations.

The Benefits of Adding an EV Charging Station

One of the biggest concerns most people have about buying electric vehicles is not having enough charging stations. If an EV battery dies, getting it back on the road isn’t as simple as adding a couple gallons of fuel to a tank. An opportunity here is that there are already more than a dozen apps for finding EV charging stations and installing an EV charger puts your business on those maps!

The benefits to adding a charging station go beyond simply being a star on a map, of course. Here are some great reasons to add yourself to the list of EV charging station companies:

By positioning your business as a leader in EV adoption, you’ll rise above your competitors. Consumers are increasingly rewarding businesses that prioritize sustainable energy by spending their money where their values are.

RELATED: Energy Awareness Month: Save Money When You Save Energy

Everything You Need to Know About EV Charging Installations

One of the great things about adding an EV charging station to your commercial property is that it’s typically not a complicated install. The footprint of a charging station is generally very modest (about 4 ft wide) and should be easily accommodated by an existing parking lot.

That said, some EV charging can put a heavy load on the power grid, so the planning stages are important for making sure the charging station has adequate power support. One way to potentially counteract that is going with a smart charging station that uses advanced technology and software.

Types of Charging Stations

The first step is to choose the type of charging station best suits your goals and budget.

The different charging station types scale quickly, with commensurate cost, so it’s important to analyze your projected usage to make the best decision.

Site Analysis

Choosing the location for your EV charging station is an important step, because of the power considerations. You may need to contact your local utility company to bring in extra power to help handle the electrical needs of a charging station.

Infrastructure Planning

In this step, coordinating with contractors helps you plan the layout of the charging stations. A contractor can help you take into account any weather considerations for your station, protective barriers, accessibility accommodations, and plans for future expansion as needed. Some financial incentives require Wi-Fi-connected smart chargers, which allow you to monitor usage and reduce electrical draw during peak hours. With this plan, you can get realistic estimates of your total costs.

Budget Planning

Collate the cost estimates with tax incentives, rebates, and grants. Even if you can pay cash for your EV charging station, financing might be a better option due to the predictable monthly payment, rather than making a big capital expenditure.

RELATED: Get These Tax Benefits With Commercial Equipment Financing

Final Paperwork and Installation

Business approvals, local permits, and incentive applications all need to be finalized and approved, then the install can begin. Construction and deployment are the steps you’ve been waiting for!

How to Make EV Charging Fit Your Budget

If you’ve decided an EV charging station would be a great addition to your commercial property, one of your biggest concerns may be cost. One Level 2 charging station might sound affordable, but what if your analysis concluded that it would be better to install several Level 2 stations? Costs can rise considerably, depending on your scenario.

You don’t need to make your budget fit your desired upgrades. Instead, you can make EV chargers fit your budget with affordable financing. Traditional lenders don’t usually have the flexibility or discernment to realize the benefits of financing commercial equipment like EV chargers. Independent lenders like Team Financial Group don’t have to adhere to bank rules, and can work with you to find an affordable, flexible solution.

Team Financial goes above and beyond for our clients. We want to hear all about your business so that we have a full understanding of your unique cash flow situation. That enables us to find solutions to help you grow. Plus, we may be able to offer you 0% down financing and a same-day approval.

Our team has experience with technology leasing, and a huge range of equipment financing so that no matter what kinds of upgrades your business needs the most, we can help. We’ve partnered with Michigan Saves to help fellow Michiganders take advantage of the benefits of renewable energy. (If you’re not located in Michigan, we can still help you achieve your renewable energy goals!)

RELATED: How to Choose the Right Commercial Lender for Your Business

Partner with Team Financial Group to Electrify Your Future

The simple fact of the matter is that electric vehicles are going to become increasingly mainstream in the coming years. Some businesses will be poised to reap the benefits of providing EV charging to their customers and employees – why not yours?

If you have more questions about financing EV charging equipment, or you’d like to hear how Michigan Saves can benefit your business, let us know! You can call our office at 616-735-2393 or fill out our online contact form. We’d love to help you position yourself as a leader in the EV charging space.

We’ve been in a low interest rate market for a long time, which means borrowing money has been cheap. As that environment changes, any variable rate debt your business holds can get more and more expensive. However, with high inflation in the mix, holding cash is also a losing proposition.

For growing businesses, or organizations that need to replace outdated equipment, this can present a challenging scenario. Should you try to make the purchase now, while borrowing is cheaper, even though your current equipment hasn’t outlived its lifespan yet?

Increasing volatility in the economy is stressful for everyone, but a deeper understanding of the situation can be helpful for both your short- and long-term decision-making.

Why Are Interest Rates Changing?

Historically, the Federal Reserve (“the Fed”) was formed in the wake of several financial panics and tasked with stabilizing the economy through control of the monetary system. The main tools they use to do that are 1) creating money and 2) setting the interest rates.

During the Great Recession, stress in the financial markets spurred the Fed to take a “dovish” stance—to lower interest rates—which made money cheaper to borrow. The Feds’ goal was to help spur investment in the economy and had kept rates low since then.

However, in recent years, the global pandemic caused the Fed to inject more money into the economy to stabilize the market against shutdowns. The drastic increase in the money supply, combined with pandemic-related supply chain issues and consumer demand for goods, has led to a lot of money and not much to spend it on. This can contribute to the devaluing of the dollar and, along with increasing prices for consumer goods, is experienced as inflation.   A little inflation (a rate of around 2%) is one sign of a healthy economy, but rates higher than that are bad news.

Additional contributing factors to the rising prices come from international conflict and trade sanctions, which cause a reduced supply of internationally traded goods, like gasoline and other energy sources.

Due to the current inflation, the Fed is taking a “hawkish” stance and raising interest rates to try and curb it. When high inflation signals that the economy is growing too fast, the Federal Reserve can raise interest rates to discourage spending and slow down the economy.

The Fed must tread carefully here because, even though inflation is bad for consumers, raising interest rates too quickly could cause an economic downturn. Therefore, the current plan is small incremental increases in the interest rate, over the next year or so.

RELATED: The Truth Behind Zero APR and Zero Down Equipment Financing

Take Advantage of a Rise in Interest Rates

For businesses, high inflation causes all internal costs to rise. From sourcing goods to paying competitive wages, you will probably have to spend more if you want to stay in business. For example, the cost of shipping containers overseas has increased more than ten-fold for some organizations!

And now you’ve got an interest rate rise to contend with. Is there any way to turn this financial instability into a tactical advantage?

Organizational decisions in a volatile market are always challenging. By proactively taking steps to mitigate financial instability, you position your company to withstand the uncertainties of the future.

Financing While Interest Rates Rise

If you’ve got projects that need financing, you might be tempted to put them on hold. Before you do that, talk to a professional – financing may be more affordable than you think!

If you’ve been considering large purchases, like an investment in new equipment, speaking to someone in the financing industry can help you make better decisions to protect your business from the challenges of rising interest rates.

At Team Financial Group, we take the time to get to know you and your unique business needs. We understand how higher interest rates can create a more complex business environment. Partnering with a lender who truly cares about seeing your business succeed makes a world of difference.

Don’t let interest rates stop you from achieving your business goals. Team Financial can help you get the equipment you need, with terms that are affordable for your bottom line.

RELATED: What Types of Equipment Can I Receive Financing For?

Don’t Let Interest Rates Become an Obstacle

If you have questions or concerns about rising interest rates, give us a call. The experts at Team Financial Group can help you find a solution to your financing needs, even in challenging fiscal environments.

For more information, fill out our online contact form or call our office at 616-735-2393. Tell us about yourself and see what Team Financial can do for you today!






There are numerous benefits to being a Michigander (where else can you experience all four seasons in one day?!), but here’s one you may not know much about: the Michigan Saves program.

MI Saves is a green bank formed in 2009 with the intent of making clean energy accessible to everyone, regardless of their economic situation. This program is available for both residential and commercial lending and has financial benefits that you might want to capitalize on. Even better, you don’t need cash in hand to save money and take advantage of clean energy initiatives for your business.

With MI Saves financing, you can start implementing cost-saving energy improvements right now. Whether you want to go green with solar power, or simply install energy-efficient systems like an ENERGY STAR certified water heater or new LED lighting, financing can help you get there faster.

Everyone Benefits From Clean Energy Initiatives

There’s never been a better time to start making energy upgrades to your business. “Clean energy” is no longer just a buzzword, it’s an inevitability. Between increasing utility costs, increasing regulation of carbon footprints, and the nation’s largest companies getting on board, green energy is clearly here to stay – and this is actually great news for your business.

Clean Energy Makes Fiscal Sense for Your Company

You see significant utility cost savings when you invest in energy improvements for your commercial building. Investments like upgrading to ENERGY STAR appliances, improving insulation, replacing toilets and faucets with low-flow equipment all reduce utility bills, and they’re all eligible for MI Saves financing.

To substantially reduce CO2 emissions, U.S. and local environmental laws are starting to target carbon footprints. Since noncompliance could ultimately result in heavy fines, it’s smart to be proactive and make compliance a priority now.

Electric Vehicles: The Future Is Here

Automotive manufacturers are shifting toward an all-electric future. For instance, GM has committed to 30 new electric vehicle (EV) options by 2025, and they’ve announced they’ll go all-electric by 2035. And other automotive leaders are making similar commitments.

Do your employees or customers drive electric vehicles yet? Would installing EV charging stations attract more talent? More customers? If cost is holding you back from making EV-friendly improvements, financing can make clean energy equipment shockingly affordable.

The Internet of Things and Energy Saving

Technological advances move at a fast pace, and the Internet of Things (IoT) has spawned a whole set of smart devices to help make sure that your commercial building is only using energy when people need it.

Occupancy sensors and smart thermostats have proven their value. You don’t need to wonder if anyone left the lights on, you could easily use your phone to check and turn them off. In turn, this helps you cut down your utility bill, and could help you capitalize on MI Saves benefits.

Who Qualifies for MI Saves Financing?

Any commercial property user or owner can use MI Saves financing partners to take advantage of the program. To help you with this, Michigan Saves has created a network of authorized contractors so you can be sure the job is done well.

If your favorite contractor isn’t already part of the network, don’t worry – they can easily apply to join. The MI Saves website has simple instructions for adding contractors to their network. And by asking them to do this, you might even help your contractor bring in additional business, which is something they’ll likely appreciate.

The list of improvements eligible for the Michigan Saves commercial financing program is huge! The full list can be found here, but even if the MI Saves program doesn’t fit your energy upgrade project list, Team Financial Group will still gladly work to find a solution that fits your needs and your budget:

*According to the Global Wind Atlas, Michigan is one of the windiest states (ranking 3rd behind Alaska and Wyoming). While windstorms pose a vulnerability to power outages, harnessing the power of the wind can keep your electricity on. That’s a win for both your business and clean energy!

RELATED: Technology Leasing – Solar, LEDs, HVAC and More!

Clean Energy Financing With Team Financial Group

The Michigan Saves green bank is designed to provide insurance for independent lenders. Because of this, Team Financial Group can offer even better rates for your clean energy equipment upgrades.

Without the Michigan Saves program, it can be difficult to get clean energy projects financed through a traditional lender. “Our purpose is to serve gaps in the marketplace,” explains Mary Templeton, CEO of Michigan Saves. Templeton and her team want to make clean energy accessible and affordable, so that anyone can take advantage of these cost-saving initiatives.

If you’re ready to begin your clean energy project, but are struggling to find the resources, it’s time to see how Team Financial Group can help. We are a Michigan Saves-authorized lender, and we also have extensive experience with a wide range of equipment financing and leasing solutions.

We’ll get to know you and your business so we can tailor your financing solution to best fit your cash flow and budget. If Michigan Saves is not the right best option for your clean energy project, we’ll let you know. Team Financial Group always wants to help find the right financing solution for you, even if Michigan Saves isn’t the best fit.

And it’s entirely possible we may be able to find you an even better solution. With our different financing options, you may see that our $1 Buyout Lease is a better deal for your organization.

If you want fast, flexible financing options for clean energy equipment, Team Financial Group is a wise choice. We are often able to give same-day approvals for lending and strive to make the process simple for you. Equipment financing can be a complicated process, but our vast experience enables us to break things down for you.

Our team will work with you to make sure you have a good understanding of what your options are, and the best way for your business to reap the benefits of energy-efficient upgrades.

RELATED: 20 Questions: Here’s How Equipment Financing Works

You Have Questions About Michigan Saves? Let Us Know!

If you’d like to know more about how to take advantage of the Michigan Saves program, or if you’ve already got a project in mind and would like to get started with financing, we’re here for you.

You can either fill out our online contact form or give us a call at 616-735-2393. We’d love to hear more about your clean energy project and see how we can help make your project a reality.


Anuradha, V. (2019, December 27). Windiest states in America. Stacker.


When hospitals, universities, and other laboratories need anatomic pathology lab equipment, they turn to Rankin Biomedical. Based in Holly, MI, Rankin provides a comprehensive line of refurbished medical equipment, including histology and cytology lab apparatuses for cancer diagnostics.

Buying this kind of equipment brand new is prohibitively expensive, and many labs don’t have the budget to accommodate those prices. Rankin Biomedical solves this problem by finding used medical devices and putting them through “The Rankin Extreme Makeover.” They are then able to provide quality equipment at a much more affordable rate.

Even though this reduces costs, labs needing multiple pieces of equipment and researchers waiting on grants to be dispersed still need assistance to stay within budget or keep a healthy cash flow. And this is where Rankin’s partnership with Team Financial Group comes into play. It makes the purchasing process fast and easy and, as you will see, this is a win-win for both Rankin and their clients.

Under the Microscope: See Why Our Flexible Financing Works Best for Rankin’s Clients

Traditional lenders don’t always see the advantage of the business Rankin Biomedical conducts. Seeing “used” as some kind of financial risk, they typically prefer to finance new equipment. Those lenders don’t take the time to understand that Rankin is known in the industry for their expert team’s high-quality refurbishment process.

Purchasing refurbished medical equipment at 50-80% below the cost of new is an excellent way for clients to take advantage of cost savings and improve cash flow, especially when you factor in Rankin’s rock-solid warranty and guaranteed customer satisfaction.

That’s why a flexible commercial lender like Team Financial Group is a great choice for Rankin’s savvy clients. “Team Financial Group helps us close deals,” says Justin Rabidoux, VP of Sales at Rankin Biomedical.

In part due to the excellent experience that they have working with Team Financial Group, Rankin promotes the following benefits of financing on their site:

It’s a no-brainer for their clients, Rankin Biomedical and Team Financial Group simply make it affordable and easy for labs to purchase medical equipment.

The Anatomy of a Good Partnership

Rankin Biomedical and Team Financial Group share a common goal: world-class customer service. By paying special attention to the specific needs of our customers, we earn their trust and repeat business.

Why does Rankin prefer when their customers finance through Team Financial Group? “We know our customers are being taken care of,” says Rabidoux. He describes financing through Team Financial Group as “simple, quick, and painless.”

Plus, when their clients use Team Financial Group to finance the biomedical equipment they need, Rankin gets paid faster.

That’s a win for the clients and a win for Rankin Biomedical!

RELATED: 5 Reasons to Become a Vendor Partner for Equipment Financing

Are You Looking for a Financing Partner to Help Your Business Grow?

If you are looking for ways to grow your equipment sales, partnering with a commercial lender can clearly boost your business.

With Team Financial Group, you can offer your clients fast and flexible financing. We often give same-day approvals, and up to 100% financing (no money down!). Plus, as your commercial lending partner, we take on all the financing risk while you get paid up front.

Make sure you check out the extensive list of the types equipment that we finance, and if you have any questions or concerns, give us a call at 616-735-2393 or fill out our short online contact form. Our expert team is always happy to help!

Having been in operation for almost a century, Wolverine Machine knows a thing or two about machining. Their made-to-print metal manufacturing business is dedicated to keeping up with the latest machining technology.

Keeping up with the latest technology can be a challenging financial feat, but it’s a great way to keep your competitive edge. With Wolverine Machine’s acquisition of eight new machines in the past 14 months, they were happy to have a nontraditional lending partner they could trust.

Fast-Paced Acquisitions Need Fast-Paced Financing

Wolverine Machine knows that flexibility and speed are keys to landing new business in a competitive market, which is why they offer 24-hour quote turnaround. While some companies might say they can’t quote a process because they’re at capacity, Wolverine Machine isn’t like that, says President Blaine Walker.

“We don’t have a limit for growth,” Walker says. “We’re always open to invest in equipment to expand capacity.”

When you’ve got a fast turnaround for quotes, and a commitment to telling new customers “Yes” you’ve got to have the ability to pivot quickly. Finding and financing equipment is critical to sustaining that kind of growth, especially for specialized machinery.

Landing on a Blueprint for Success

Wolverine Machine has partnered with Team Financial Group for their equipment financing needs for the past eight years. Walker is grateful to Team Financial Group for “being there for us when we needed equipment” to stay relevant in a competitive market.

“You’re not going to find a lot of lenders willing to lend money for equipment that is no longer made,” Walker says.

Walker recently found a used CNC machine for $120,000, something that could get the job done for far less than a new one, which can be upwards of $1 million. Walker’s experience and ability to recognize value in older equipment made this a financially sound move for Wolverine Machine.

“If you’re looking for a nontraditional lender that is going to have a more open mind, I would definitely talk to Team Financial,” Walker says.

Finding a Flexible Lender Keeps Wolverine Machine on the Cutting Edge

Sometimes it can take six months to go from raw materials to finished parts, especially if there are multiple outsource processes. With that long cashflow cycle, traditional lenders don’t always have the flexibility to make the financing fit the business. Instead, they try to make the business fit their financing.

“There are a lot of banks that don’t understand the realities of our business,” Walker says.

Wolverine Machine needed a lender who could take a holistic look at their success and turn that into financing terms that worked for their needs. One of the reasons Wolverine Machine has a successful partnership with Team Financial Group is because “they are able to look at the bigger picture.”

Wolverine Machine also takes advantage of tax breaks for equipment depreciation. A traditional loan doesn’t let them get that benefit on their books, but an option like Team Financial Group’s $1 Buyout Lease can have excellent tax benefits.

RELATED: $1 Buyout Lease vs. FMV Lease: What’s the Difference?

Contact Team Financial Group to Learn How You Can Get Fast, Flexible Financing

If you’re looking for a financing partner who understands the realities of your business, look no further. You can rely on Team Financial Group to get down to brass tacks with you, learn about your specific situation, and make sure you get the best financing solution for your growing business.

Ready to get started? Apply for financing now using our quick and easy online application, or give us a call at 616-735-2393 if you have questions.

The content provided here is for informational purposes only and should not be construed as legal advice on any subject.

As a business owner, keeping track of your physical assets is an important step to ensuring things run smoothly. Equipment age, maintenance, and life cycle are metrics that help your decision-making process, especially when it’s time to replace or upgrade your used equipment. Determining fair market value (FMV) can be challenging, but it is a strategic step to making good financial decisions.

If you’re considering financing to replace or upgrade your equipment, there are some options to choose from, like a fair market value lease or a $1 buyout lease. To compare the different options, you need to know how to determine fair market value so you can assess which is most cost-effective for your business.

RELATED: $1 Buyout Lease vs. FMV Lease: What’s the Difference?

Key Factors Used to Determine Fair Market Value

One of the biggest challenges in valuing equipment is that there isn’t a one-size-fits-all approach. Varying quality between manufacturers and varying levels of use mean that sometimes it is not fair to compare two pieces of equipment that are meant to do the exact same job. Because of these differences, you need to look at a handful of key factors to help you analyze the value of equipment, which can then inform your future financing options:

In addition to all these factors, the type of equipment used by your business can vary widely as well. For example, office furniture and construction equipment have very different markets, but both may have a place in your business. Their life cycles and FMV calculations are going to be different, which is something that needs to be taken into account when making financing decisions.

RELATED: How to Match Financing With the Equipment Life Cycle

Valuation Approaches for Determining Fair Market Value

Assessing the key metrics about your equipment is only the first step in determining FMV. If you are determining fair market value for the purpose of buying or selling equipment, or if you are calculating depreciation for tax purposes, you may take a different valuation approach.

Sales Comparison

This approach is based on actual prices of similar equipment, while adjusting for the factors listed above. By doing market research and comparing the prices that similar new or used equipment has sold for, you can get an idea of the final price your equipment could fetch. Equipment with a more active market will give you the best estimate. If you don’t have much to compare to, it will be harder to make an accurate assessment.

Cost Approach

If there isn’t an active market for the type of equipment you are valuing, then the cost approach is a useful method. This is based on the replacement cost for your particular equipment, and then that number is adjusted for the remaining life expectancy, age, and condition.

Income Approach

This valuation method uses the income produced by that specific piece of equipment to determine value. It can be difficult to attribute income to individual pieces of equipment, so the income approach is rarely used in this context. More often, this valuation approach is used to determine the value of a business as a whole entity.

No matter which valuation method you use, purchasing equipment for your business is an expensive endeavor. When it comes time to upgrade your equipment, or if you need to purchase more equipment to keep up with growing demand, buying outright can put a huge strain on your cash flow. Financing with a fair market value lease gives you an easy way to manage your cash flow while maximizing the life cycle of the equipment you need.

Team Financial Group Has Experience Determining Fair Market Value

Team Financial Group offers many options for financing the equipment you need to sustain your business. Our experts can help you determine what kind of financing will work best for your specific needs, and we have experience with determining fair market value for new and used equipment.

If you have questions about fair market value or financing equipment, get in touch with us by calling our office at 616-735-2393 or filling out our online contact form.

The content provided here is for informational purposes only. For personalized financial advice, please contact our commercial financing experts.


There are a lot of misconceptions when it comes to how equipment financing works, which can hurt business growth. Perhaps you think that equipment financing is too expensive, or that the process is too slow, or that you don’t qualify because you don’t have a perfect line of credit.

These equipment finance myths may have been true once, but the application and approval process is now faster and easier than ever before. Your business may be booming, but if you cannot find solutions to purchase equipment, how can you meet growing customer demands?

Financing is not the difficult process it used to be, so it’s time to debunk those old myths. If you’re still not sure how your business can purchase equipment, get in touch with an experienced partner like Team Financial Group. Our team would love to answer all your finance-related questions and equipment financing options.

Myth 1: Only Businesses With Great Credit Scores Qualify for Financing

A traditional bank may have stringent requirements or certain metrics that must be met, but independent partners like Team Financial Group understand that these don’t always define a business.

For established businesses that don’t have a perfect credit score, or new businesses with no credit history, an independent lender can meet you where you’re at. A credit score is just a number, and it doesn’t always tell the whole story. A financing partner will listen and customize an equipment financing plan based on your specific business needs and financial history.

Myth 2: Equipment Financing is Too Expensive

An independent commercial lender will work with you to understand your financial situation. A good lending partner will help figure out an affordable solution that maximizes your cash flow. They can offer more aggressive terms with competitive interest rates to help meet your budget.

In fact, according to a report published by the Equipment Leasing & Finance Foundation, 47% of businesses said that optimization of cash flow was one of the big reasons they chose financing vs. paying cash for new or used equipment. In other words, keeping your cash flow healthy will help keep you in business.

RELATED: How Equipment Financing Can Help Your Cash Flow

Myth 3: The Equipment Financing Process Takes Too Long

This myth was true for a long time, and even today traditional lenders may take 60-90 days to approve a small business loan. However, with the rise of online lenders and computer algorithms, the turnaround time for financing has been drastically reduced. A good lending partner will make the process fast and easy. Team Financial Group has approved and funded equipment loans in less than 24 hours.

When growing a business, changes can happen rapidly, like landing a big contract. Don’t let concerns about the length of the financing process prevent you from purchasing the equipment you need to get the job done. The lending approval process is moving faster than ever.

Myth 4: Offering to Finance Equipment Does Not Affect Sales

If you sell commercial equipment, you may think that it doesn’t make a difference to your customers whether you offer equipment financing, or they need to pursue their own business loans. However, many businesses work with monthly budgets. If you are able to partner with a lender and offer financing, you can focus on monthly payments rather than the overall purchase price of new and used equipment. This strategy can lead to more sales and repeat customers.

This equipment finance myth is one of the worst. With almost 80% of businesses utilizing financing to acquire their commercial equipment, working with a lending partner is often critical to closing a deal.

Myth 5: Equipment Financing is Not Flexible

It’s natural to be a little tense about major equipment purchases, especially if you feel like you’re locked into a contract with no wiggle room. However, the right lending partner should put your mind at ease with a customized approach. With a lending partner that understands one-size-fits-all financing doesn’t actually fit every size business, even the most unique enterprises usually can find a financing solution to fit their needs.

Banks are often constrained by risk management formulas, but an independent commercial equipment financing partner can assess your individual situation and offer flexible terms. For example, we might be able to offer you a $0 down payment (100% financing), a $1 buyout lease option, or seasonal payment terms. We are happy to answer all your finance-related questions and find a solution that’s right for your business.

RELATED: 20 Questions: Here’s How Equipment Financing Works

Small Businesses Can Utilize Financing to Fuel Growth

The number one reason many small businesses go under is due to cash flow problems. When a business scales up or experiences rapid growth, the need for additional equipment and staffing resources often precedes the inflow of cash. This creates a cash crunch at the worst possible time – if you can’t keep up with demand, then demand will take their business elsewhere. This is where financing can keep your business in the black.

Financing is a great way to keep your cash flow healthy and allows an extra cash buffer to cover emergencies or opportunities.

Getting an equipment loan or equipment lease may seem daunting if you view it as a negative move. However, if you approach financing equipment as another tool in your toolbox, and partner with the right lender, you’ll see that this is often a strategic move that can keep your small business moving forward.

Small Businesses Can Utilize Financing to Fuel Growth

At Team Financial Group, we want to see small business owners grow successfully. That’s why we work with all kinds of organizations to help them achieve their goals through equipment financing.

Need any more finance-related questions answered or equipment finance myths debunked? Call us at 616-735-2393 or fill out our online form to learn more about how fast and flexible the process can be.


Equipment Leasing & Finance Foundation. (2019). 2019 Equipment Leasing & Finance Industry Horizon Report. Retrieved from

The content provided here is for informational purposes only and should not be construed as legal advice on any subject.

As businesses consider purchasing equipment they need to keep up with new or growing market share, the biggest factor is usually the price tag on the expensive machinery. When selling heavy equipment, businesses that offer financing are strategically positioned to close more sales, often in shorter timeframes.

If you are a vendor that is new to heavy machinery financing, or simply seeking to improve your current selling strategy, you can use these six financing tips to help increase sales and build a loyal customer base.

Still need help? You may want to consider a viable alternative like working with an experienced financing partner like Team Financial Group, who can help you learn more about the equipment market and major business investments that drive future growth without breaking the bank.

1. Partner with a Commercial Lender

If your customers have to find an outside party to finance their heavy equipment, you are more likely to lose the sale. But you don’t need to offer in-house financing to keep them from walking out the door. In fact, partnering with a commercial lender lets the lender assume the financial risk instead of you, with the added benefit of fast, flexible approvals.

If heavy machinery financing isn’t approved by your customer’s bank, there’s a chance they may look elsewhere for their equipment purchase. A commercial lender like Team Financial Group, for example, understands that their business has unique needs, and will work with them on a financing plan that fits their specific situation. Faster, easier approvals can help you close more deals so your buyers start reaping the benefits of their new heavy equipment sooner.

RELATED: Top 5 Benefits of Partnering With an Equipment Financing Company

2. Offer Heavy Machinery Financing Early in the Sales Process

Don’t be afraid to bring up financing early. When you ask, “Do you plan on financing this purchase?” you have the opportunity to tell them about your great financing options. You can follow up with questions about how long they plan to use the equipment or how they might retire used equipment. This will help you understand what type of financing they need and provide a quick estimate of monthly payments. Your knowledge and accuracy about the selling process can make them feel confident in you as a vendor.

RELATED: What Types of Equipment Can I Receive Financing For?

3. Sell the Monthly Payment, Not the Overall Cost

You may want to consider estimating the monthly payment and talking about the payment quote rather than the overall sales price of something like construction equipment. This number often will be more appealing to prospective buyers, and it’s easier for them to see how this purchase could fit into their monthly budget. The monthly payment will sound more manageable than the full price of buying the equipment outright, helping you win over potential buyers.

4. Emphasize the Flexibility of Financing

Banks tend to offer a one-size-fits-all approach to lending, with stringent requirements about asset age and depreciation. When it comes to selling equipment, though, you will often find that buyers need out-of-the-box solutions for their financing. Choosing the right independent lender will give equipment buyers more options, while keeping the process simple and convenient.

Everyone wins when you offer your clients custom financing solutions tailored to their unique business needs. Your customers will appreciate how you helped them get their financing approved, even if they have a unique cashflow situation like a seasonal agricultural enterprise. Offering flexible, customized financing plans also will earn you repeat business from loyal customers.

5. Get a Credit Application

You can often turn window shoppers into buyers simply by having them fill out a credit application. This small act is a first tangible step of the sales process and will leave customers feeling more committed to buying their equipment from you. If they have any questions about how to finance heavy equipment, this is a way to give them time to collect their thoughts and get the answers they need to move forward with purchases.

6. Make the Process Easy to Keep Buyers Coming Back

As a heavy equipment seller, if you can make the financing process easy for your clients, you’ll be more likely to earn their business. They’ll remember that you offered affordable financing solutions to suit their situation, and they didn’t need to go through a third-party lender’s one-size-fits-all approach only to get denied.

Your expert knowledge will help build personal relationships with your clients and keep them coming back to the vendor they know they can trust.

Team Financial Group Can Help Your Business with Selling Heavy Equipment

Team Financial Group has experience with all types of commercial equipment, from excavators to CNC machines to solar energy solutions. We also work with a diverse set of clients to find customized payment options that are affordable for their unique equipment needs.

If you have questions about partnering with Team Financial Group to sell equipment, we’d love to hear from you. Call us at 616-735-2393 or fill out our contact form. Team Financial Group makes heavy equipment financing fast, flexible and easy.

The content provided here is for informational purposes only and should not be construed as legal advice on any subject.

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