News
SupplyPro Capital Launches the `EZ Start' Financing Program to Support Point-of-Use Dispensing Strategies in Manufacturing Operations
UPPER SADDLE RIVER, N.J.-(Business Wire)-August 5, 2008 - SupplyPro, Inc. has joined with Somerset Capital Group to form SupplyPro Capital and today launched a new leasing program for industrial vending customers. SupplyPro Capital's "EZ Start" program gives manufacturers the opportunity to incorporate dispensing strategies immediately via a lease without having to incur a capital expense that requires lengthy approval processes.
To help clients, as soon as this quarter, SupplyPro Capital is offering a special "Zero Payments for 3-months" option for new leases. With this program, clients can harness the benefits of a vending strategy immediately without having to pay a penny for 90-days.
"There is a real need in this sector for the immediate savings that vending solutions can provide, and a simple method for financing was the fastest way we could enable this for our customers," said David J. Simbari, President and CEO of SupplyPro Inc./SupplyPro Capital. "Our solutions result in a proven return-on-investment within months of implementation and any delay because of financing hurts our customer base. We decided to take action by engaging an outside lending partner, Somerset Capital."
Adam Simon, Executive Vice President - Sales, Somerset Capital Group, Ltd. stated, "In today's economy, manufacturers need to capitalize on any opportunity to reduce costs in their operations. SupplyPro provides easy-to-implement solutions that should be incorporated at the earliest opportunity. We believe it was critical to help SupplyPro provide a financial solution that eases potential corporate finance issues and delays."
Leasing of SupplyPro's Point-of-Use dispensing solutions provide tangible benefits:
— Faster and easier approval process for incorporating vending solutions
— Fair Market Value lease payments are part of the operations budget and require no capital
— Installation, maintenance and other services can be included in the operating lease
— Fixed payments for equipment use for the entire length of the agreement
— Improved cash forecasting
— Flexible end of term options for disposing of the equipment
SupplyPro, Inc. is the premier provider of automated Point-of-Use dispensing solutions in the Intelligent Materials Management (IMM) market. Vending strategies provide:
— Reduced material consumption and associated spend
— Reduced inventory waste and hoard
— Reduced on-hand inventory levels
— Production staff stays at the work cell
— Reduced cost of replenishment by automating orders
— Elimination of unaccounted-for tool loss
— Proper allocation of all expenses by department, work order, job, etc.
— Better compliance with Sarbanes-Oxley control requirements
— Data back-up and disaster recovery
About SupplyPro Capital
SupplyPro Capital is the financing arm of SupplyPro, Inc. Established in 2008, SupplyPro Capital provides financing products that expedite the implementation of SupplyPro's Point-of-Use dispensing solutions to industrial customers worldwide. For more information visit www.supplyprocapital.com or contact Bryan Blankenship, 858 587-6400 x6576 or bblankenship@supplyprocapital.com.
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