Why did TimePayment sell to LEAF?
- To better align its business with today’s marketplace and ensure that water equipment dealers and their customers receive outstanding flexibility and support from experts in financing water equipment, TimePayment has chosen LEAF to service all water equipment agreements.
What’s your experience running private-label programs?
- LEAF has extensive experience developing and servicing private-label programs that bring all our capabilities to market with full support of dealer branding and market positioning.
When will LEAF begin servicing agreements from TimePayment?
- LEAF will begin servicing TimePayment water equipment agreements beginning June 1, 2023.
What is LEAF’s experience in the water industry?
- LEAF has been a leading finance provider to the water equipment industry for decades. In that time, we’ve created and supported LEAF-branded and private-label programs with major players in the industry, including Culligan. When you work with LEAF, you can be confident our team knows the industry, the challenges dealers face, and how to help you win more opportunities in the marketplace.
What is LEAF’s background?
- LEAF, a subsidiary of M&T Bank, was founded in 2001 and is headquartered in Philadelphia. From our offices in PA, MO, MD, TX, and CA, we offer customized finance options, sales support, and other resources that help dealers across a variety of industries drive bigger sales that close faster.
Will my customers be sent anything about the transition?
- The only information your customers will receive will be an email and direct mail communication letting them know about the changes to the billing center depending on whether they pay via check, ACH, or credit card.
Can I get a copy of communications sent to my customers?
- To receive a copy of a customer communication about this transition, please reach out to your account executive.
Will my customers have a grace period to allow time to make necessary remit to changes without incurring additional charges?
- Yes, there will be a grace period during which late fees will be waived as customers make the necessary changes to their accounts payable systems and procedures.
Can I view the transferred portfolio in the dealer portal to be able to track the original TimePayment contracts?
- Yes, your customer information will be included on our dealer portal along with any other customers of yours who have contracts with us.
What is the contact information for customers with questions regarding the transfer of their contract?
- If any of your customers have questions prior to the June 1, 2023, transition, please have them reach out to TimePayment at 877-480-8533.
Can my customer make a payment online?
- Yes, they can sign up to make payments online and manage their equipment lease account at MyLeaseAccount.com.
Why is LEAF’s process different than what I experienced with TimePayment?
- LEAF’s process is designed to streamline financing for dealers and their customers while going beyond off-the-shelf finance options to deliver the kind of outstanding customizability and seamless customer experience that makes water equipment easier to buy – and sell.
I also sell (or want to sell) [X, Y, Z]. Can you finance that?
- Absolutely. And the great thing is, we can finance everything from equipment and technology to services of all kinds on the same agreement with one affordable payment each month to help you deliver a better customer experience and take advantage of profitable bundling opportunities.
What can LEAF provide that other sources cannot? What differentiates you in the market?
- With LEAF, you get a team that has served the industry for decades. We deeply understand the business, and we go beyond just helping you close today’s transaction to providing sales support, market insight, and a wide variety of tools to help you win more business every day. In addition, our platform is built on advanced technology to help you spend less time on your finance program and more on your business. And it’s all supported by the resources of M&T Bank.
Is my vendor program agreement with TimePayment accepted with LEAF?
- We are accepting most VPAs. In some situations, dealers will be notified of the need to complete a new VPA, which we will provide for review/signature. For dealers that want to take advantage of certain program features, like our Partners in Profit program, LEAF may require addendums to existing VPAs.