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How the Economic Outlook Affects Lease Financing for Construction Equipment

Economic OutlookThe Association of Equipment Manufacturers (AEM) recently published an article on the economic outlook for 2020. It stated that while the economy began 2019 rather strong and that the U.S. is in the middle of 100+ months of economic expansion, many thought leaders are forecasting that our hot economy will cool down a bit. Why pump the brakes in the midst of high business and consumer confidence and low unemployment? Rising interest rates, looming tariffs and an inability to hire enough workers, especially skilled labor.

The Global Financial & Leasing Services (GFLS) team keeps a close eye on economic reports, especially those concerning the industries in which we finance equipment. However, we can gauge the economy’s highs and lows simply by the number of equipment financing applications we receive. Over the past few years, applications have been flooding in from customers who are confident enough in the economy that they’re comfortable spending money.

Construction Leads the Way

The construction industry – residential and commercial – historically leads the way in a good economy. Of course, building requires construction equipment, so it’s no surprise that the demand for construction equipment financing is high.

The past few years were good for leasing pre-owned construction equipment. A good economy mean companies can replace older equipment with new, which increases used inventory. There are a number of construction firms leasing their quality, used construction equipment like backhoes, dump trucks, bulldozers, and other heavy equipment in order to offset the cost of purchasing new equipment.

Is Now the Best Time to Finance Construction Equipment?

Despite interest rates, tariff concerns and labor crunches, it is still a great time to finance construction equipment for a few reasons, including:

  • Used inventory is excellent
  • Current low interest rates (but the Federal Reserve recently has raised rates and more increases could be on the way)
  • The quality manufacturing of today’s construction equipment minimizes the risk of the payments outlasting the equipment

AEM reports that the construction industry is expected to experience steady and solid growth, at least in the short term, though no one can predict the impact of any unforeseen circumstances or events. Financing construction equipment makes sense for many construction firms right now.

READ: Why Put Profit Above an Equipment Lease Payment?

GFLS helps small and medium-sized businesses finance construction equipment leases, even those with less than perfect credit and who have been turned down by other equipment financing providers. Get started today with an application or contact our team for more information.

People Are Talking . . .

Office Manager, Podiatrist

I sincerely appreciate your response on this holiday weekend. You’re a true professional and your dedication with assisting clients has always been honorable. May the remainder of your weekend be enjoyable!
Global Financial and Leasing Client Testimonials
2019-03-20T07:21:41-07:00
I sincerely appreciate your response on this holiday weekend. You’re a true professional and your dedication with assisting clients has always been honorable. May the remainder of your weekend be enjoyable!

Taylor M., General Financial

Your company has helped touch the hearts of both new, and returning mutual clients across the US. Jerald Collens continues to show excellence in his career, and still goes out of his way to make himself available at all times to satisfy our demanding clients needs. We are proud to have a funding partner in our industry that is dedicated to finding a way to say “yes” to every single clients unique circumstances, when other funding sources typically say “no”.
Global Financial and Leasing Client Testimonials
2019-03-20T07:41:17-07:00
Your company has helped touch the hearts of both new, and returning mutual clients across the US. Jerald Collens continues to show excellence in his career, and still goes out of his way to make himself available at all times to satisfy our demanding clients needs. We are proud to have a funding partner in our industry that is dedicated to finding a way to say “yes” to every single clients unique circumstances, when other funding sources typically say “no”.

Malcolm, President Specialty Contracting Company

Judi, thanks for your support. We are building something here and having folks like yourself on our side makes all the difference!
Global Financial and Leasing Client Testimonials
2019-03-20T07:22:06-07:00
Judi, thanks for your support. We are building something here and having folks like yourself on our side makes all the difference!

T. Poague

Been with these guys for over a year they helped me get my business started it hasn’t went as planned but these guys have worked with me in every way possible my hats off to to mr Ira ,Mrs Judi and mr Sean guarantee I will use them for any of my business financing if possible Great folks

Global Financial and Leasing Client Testimonials
2019-06-27T06:11:01-07:00
Been with these guys for over a year they helped me get my business started it hasn’t went as planned but these guys have worked with me in every way possible my hats off to to mr Ira ,Mrs Judi and mr Sean guarantee I will use them for any of my business financing if possible Great folks

IT/Telecom Vendor Sales Rep

Judi, the thanks is all yours!! You made this happen very smoothly. I am your loyal customer from here on.
Global Financial and Leasing Client Testimonials
2019-03-20T07:22:31-07:00
Judi, the thanks is all yours!! You made this happen very smoothly. I am your loyal customer from here on.

R. Lowery

Had a great experience with Patrick. He was very knowledgable with regard to our specific needs! Thank you!

Global Financial and Leasing Client Testimonials
2019-06-27T06:12:47-07:00
Had a great experience with Patrick. He was very knowledgable with regard to our specific needs! Thank you!

JH, Medical Vendor Rep

Thank you, Judi, you are the best ... So understanding of the complexities of this crazy industry and compassionate enough to work with people in difficult circumstances, there is a special place in heaven for you and Jim.

Global Financial and Leasing Client Testimonials
2019-03-20T07:26:35-07:00
Thank you, Judi, you are the best ... So understanding of the complexities of this crazy industry and compassionate enough to work with people in difficult circumstances, there is a special place in heaven for you and Jim.

Byron Waters

Great folks over at Global. Julian and his Team have helped us out several times always an easy process

Global Financial and Leasing Client Testimonials
2019-06-27T06:13:06-07:00
Great folks over at Global. Julian and his Team have helped us out several times always an easy process

CP – Medical Vendor

I want to thank you both so much for doing a wonderful job with my customers. You truly go the extra mile to assist them with their financing needs.
Global Financial and Leasing Client Testimonials
2019-03-20T07:32:35-07:00
I want to thank you both so much for doing a wonderful job with my customers. You truly go the extra mile to assist them with their financing needs.

Alyson

Very good people.

Global Financial and Leasing Client Testimonials
2019-06-27T06:13:28-07:00
Very good people.

SS, Medical Vendor

I certainly appreciate all the effort and hard work that you put into our customers. Your dynamics show us even when the financial situations are shaky that you still come through with positive outcome. Thank you so much for your hard work!
Global Financial and Leasing Client Testimonials
2019-03-20T07:32:54-07:00
I certainly appreciate all the effort and hard work that you put into our customers. Your dynamics show us even when the financial situations are shaky that you still come through with positive outcome. Thank you so much for your hard work!

Michael B.

Not be any happier with this company.

Global Financial and Leasing Client Testimonials
2019-06-27T06:40:57-07:00
Not be any happier with this company.

President, Plumbing Company

Just wanted to thank you again! I just picked up five new vehicles from a lease I acquired from your friend! I am so excited! Again I cannot thank you enough for all that you have done for me!
Global Financial and Leasing Client Testimonials
2019-03-20T07:37:24-07:00
Just wanted to thank you again! I just picked up five new vehicles from a lease I acquired from your friend! I am so excited! Again I cannot thank you enough for all that you have done for me!

Hollie Aneshansley

Amazing opportunity these wonderful people gave me♡

Global Financial and Leasing Client Testimonials
2019-06-27T06:41:30-07:00
Amazing opportunity these wonderful people gave me♡

President, Plumbing Company

Just wanted to thank you again! I just picked up five new vehicles from a lease I acquired from your friend! I am so excited! Again I cannot thank you enough for all that you have done for me!
Global Financial and Leasing Client Testimonials
2019-03-20T07:37:57-07:00
Just wanted to thank you again! I just picked up five new vehicles from a lease I acquired from your friend! I am so excited! Again I cannot thank you enough for all that you have done for me!

Shaun Land

Great organization to work with. Very friendly staff and a good business partner.

Global Financial and Leasing Client Testimonials
2019-06-27T06:41:50-07:00
Great organization to work with. Very friendly staff and a good business partner.

J, Medical Vendor

It was the best quarter in my 4+ years at XXX!! You guys were a BIG part of it!! Thank You!!!
Global Financial and Leasing Client Testimonials
2019-03-20T07:38:11-07:00
It was the best quarter in my 4+ years at XXX!! You guys were a BIG part of it!! Thank You!!!

R. Morris, CFO & Treasurer SerenaGroup, Inc.

Global provided our company with financing resources when every other firm said no. Both Jim and Judi Jenks have been supportive beyond any experience I’ve had with other financing firms, their professionalism and “going the extra mile” for their client was the norm, not the exception. I highly recommend Global for your financing needs as you will be dealing with people who truly practice what they preach.
Global Financial and Leasing Client Testimonials
2019-03-20T07:38:25-07:00
Global provided our company with financing resources when every other firm said no. Both Jim and Judi Jenks have been supportive beyond any experience I’ve had with other financing firms, their professionalism and “going the extra mile” for their client was the norm, not the exception. I highly recommend Global for your financing needs as you will be dealing with people who truly practice what they preach.

M.C., President Wound Care Management Company

GFRS has allowed our business the growth we needed and given us an exceptional partner we can count on. Other leasing firms were merely interested in looking for certain numbers to meet in the short term. J.D. Jenks, CEO, understood our business model, why we needed what we needed.
Global Financial and Leasing Client Testimonials
2019-03-20T07:38:42-07:00
GFRS has allowed our business the growth we needed and given us an exceptional partner we can count on. Other leasing firms were merely interested in looking for certain numbers to meet in the short term. J.D. Jenks, CEO, understood our business model, why we needed what we needed.

D. Williams, Owner Discovery Ultrasound

Sweet! Thank you so much for all of your help and incredible speed. I just wanted to tell you that this new piece of equipment will be a game changer for my business. No one within 250 miles of me has one. I will crush my competition!
Global Financial and Leasing Client Testimonials
2019-03-20T07:39:06-07:00
Sweet! Thank you so much for all of your help and incredible speed. I just wanted to tell you that this new piece of equipment will be a game changer for my business. No one within 250 miles of me has one. I will crush my competition!