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Tri-Lease Corp. Helps Recyclers Fund Equipment


Tri-Lease Corp., Raleigh, N.C.
 


Karen Crowley

June 2004

 

Tri-Lease Corp., Raleigh, N.C.
 

Plymouth Leasing Company Helps Recyclers Fund Equipment Brantley Denton admitted that his company's trade show booth can be "kind of boring." The services he provides, however, can bring an auto recycling business exciting results.

As an account manager for Tri-Lease Corp. (formerly known as Plymouth Leasing Company), Denton often finds himself distributing brochures, while equipment manufacturers in nearby booths are demonstrating flashy, high-tech gadgets.

"We're just handing out pieces of paper about leasing," he laughed. "There's nothing to touch and work and demonstrate at our booth, but we're one of those guys that's necessary."

Auto Division

Fifteen-year-old Tri-Lease Corp., located in Raleigh, N.C., provides equipment leasing and financing services to a variety of businesses nationwide, including medical, software and food-service companies. For the past 12 years, Denton has headed up the company's Automotive Equipment Services division, which serves a range of automotive businesses, including recycling facilities.

"The automotive division would be one of our mainstays," he said. "When someone calls us, he's talking to someone who focuses their energy on the automotive division. We're entrenched and heavily involved in this industry every day."

Tri-Lease can provide funding for any type of equipment a recycling facility might need, from forklifts and car crushers to inventory systems and shelving. There's no restriction on the type or size of business that can use Tri-Lease's services.

"We provide financing for small independent facilities up to your large corporate facilities," Denton explained. "There are virtually no limitations to the type of market we cater to."

Marketing Strategy

Despite Tri-Lease's wide reach, most business owners who don't already work with the company have probably never heard from Tri-Lease directly. That's because it prefers to market its services to equipment manufacturers, who then pass the information on to business owners. Denton said this marketing strategy gives Tri-Lease more credibility.

"If you're a shop owner, you don't want to give information out to someone you've never heard of," Denton explained. "Once [distributors] see the merit of what we have to offer, they let the yards know. We feel the best way to market is through distributors and a huge referral network."

This includes auto recycling associations. Tri-Lease already belongs to the North Carolina association, and Denton hopes to join more.

"We'd like to be a part of every association out there," he said. "I'm a very strong advocate for association membership. Anyone who knows me knows that. You wish you could join them all … but reality states it's going to be very difficult and challenging to do that."

Customer Education

Denton is also a strong advocate for customer education. Tri-Lease provides customers with brochures and worksheets that spell out the benefits of leasing in general. Some of these advantages include improved cash flow, tax benefits and an easy application process.

Tri-Lease's application takes minutes to complete. This basic information - name, address, owner's name and years in business - can qualify a start-up auto recycling business for up to $30,000 and an established one for up to $75,000.

"The basic information is what we need to get the ball rolling," Denton said. "Usually credit decisions are made within one business day or less, and we can expedite things if we need to. We do offer personal attention. Every application comes across my desk, and I look at all of them.

"We want to make things easier for our customers," he said. "We're service-oriented, as we don't have anything tangible to sell. We're unlimited in what we can do."

Company Name: Tri-Lease Corp. (formerly Plymouth Leasing Company)

Corporate Officers: Michael McKay

Location: Raleigh, N.C.

Phone: 866-590-2220 or 919-878-7717

URL: www.trilease.net

Years In Business: 15

Employees: 10

Credentials: Member of Tire Dealers Association, Independent Garage Owners Association and North Carolina Auto Recyclers Association

Quote: "The automotive division would be one of our mainstays. When someone calls us, he's talking to someone who focuses their energy on the automotive division."




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