Right now, the US is about to face one of the largest potential economic recessions in the past decade. The Covid-19 pandemic, elevated inflation, and higher interest rates, in addition to an ongoing war in Ukraine, are just some of the warning signs that indicate that the US and global economy could be facing financial uncertainty. But with ransomware attacks, phishing, and other physical and cybersecurity threats still ongoing, businesses can’t afford to cut back on the protections afforded by quality commercial security systems.
Analysts and investors define a recession as two consecutive quarters of negative gross domestic product (GDP). Unfortunately, if we follow that metric, we could potentially experience one. Financial uncertainty can be a business-threatening scenario–particularly if financial issues are compounded by inadequate investments in business ransomware protection, endpoint security, access control, and other essential forms of physical and cyber security. But thankfully, tools like vendor financing allow business owners to get through the economic uncertainty with their heads held high and their businesses well protected.
Why Vendor Financing?
Borrowing money from banks is a risky move. Deciding to go down that path will require you to add collateral or a personal guarantee that you will eventually pay back the business loan you are asking for. Besides that, in these unstable times, the bank would only give you 80% of the financing. This means that the debt could skyrocket in the following months or days, causing you to put up the remaining 20% of the loan.
With vendor-sponsored programs, the vendor takes some of the credit risks off the table. This allows businesses that couldn’t get a loan or received a very high-interest rate, to get 100% of the credit with no collateral or personal guarantees at a much lower interest rate.
Vendor Financing & Technology
The constant improvement and development of technologies make that camera that you bought yesterday less valuable today. That said, skimping out on the quality of your commercial security system could likely cause you more financial difficulty in the long run. Technology is a necessary expense. That’s why it’s important for organizations to use vendor financing for their commercial security systems and other essential technology to get 100% of the loan with a minimal interest rate.
For example, if you get a loan for 100,000 dollars, you will pay the same 100,000 dollars in 3 years, instead of paying more due to inflation and interest rates. These programs also offer significant discounts for bundle support allowing you to pay 25% less and save on maintenance!
Economic uncertainty is tough for everyone, but if you take advantage of opportunities like vendor financing programs, your company will grow even in the toughest times–and remain safe and secure. Instead of cutting back on necessary expenses like quality business ransomware protection, endpoint security, access control, and other forms of physical and cyber security, utilize vendor financing to your advantage!
BTI: Offering Vendor Financing Programs for IT, Security, and Communications Solutions
Here at BTI, we genuinely care for you and the security and stability of your business. Do your commercial security systems need an upgrade? Are you looking for the most cost-effective IT, security, and communications solutions? Reach out to us regarding our services and vendor financing options today.
If you would like to explore our vendor financing programs or would like advice on other business strategies in times of economic uncertainty, contact us!