Cooking Up Clarity: FAQ's

How does the financing process work for my customers?

You can start the process in a few ways: either provide your customer with an application link, share our contact information, or simply give us their details so we can reach out directly. We find that a warm email introduction works best to set a positive tone for everyone! Once we’re in touch with the customer or receive the application, we’ll gather financing options for them to choose from and guide them through the process with full transparency and care.

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All we’ll need from you is an initial quote and, later, the final invoice. Once the agreement is in place, we’ll pay you as agreed, and you can release the order to your customer.

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What types of equipment can be financed through Five Star Financial?

We can finance all types of restaurant equipment, from small replacement orders to large buildouts. We also offer financing for used equipment, and soft costs can be included in the order up to 25% (this will vary by funding source). Have items you're unsure about? Reach out to us! We're always happy to talk through it and let you know what’s possible.

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What are the benefits of offering financing to my customers?

For your customers, financing makes it easier to get the equipment they need without the burden of a large upfront payment. They can spread the cost over time, which helps preserve cash flow for other business expenses. Financing also gives them access to better, more efficient equipment that they might not otherwise afford, enabling them to stay competitive and grow their business. Additionally, financing can bring valuable tax incentives that help your customers improve their bottom lines.

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For you, offering financing creates an opportunity to close more sales by providing a flexible payment option. It increases customer satisfaction and loyalty, as they can get what they need with minimal financial strain. Additionally, by partnering with Five Star Financial, you’ll get fast approvals, transparent communication, and seamless integration with your sales process, helping you streamline transactions and enhance customer relationships.

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Is there a minimum or maximum deal size for financing?

We offer financing options for both small and large orders! While financing typically starts making sense around the $1,500 mark, we’re happy to review smaller deals as well. Whether it's a small replacement order or a large equipment purchase, we're here to help find the right solution for your customer’s needs.

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How quickly can my customers get approved for financing?

For deals over $50K, customers can typically receive approval within 24 hours. For deals under $50K, approval can often be completed within just a few business hours, allowing for a fast and efficient process to get them the equipment they need.

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Are there any upfront costs or fees for offering financing?

No, there are no upfront costs or fees! We provide customized marketing materials and training resources, and we work closely with your team to ensure they understand how to leverage financing to grow sales, at no cost to you. As part of our commitment to partnership, we want to ensure that you have everything you need in order to succeed. We know that your customers wouldn’t reach out to us without your guidance, so we’re here to support you every step of the way!

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What financing terms are available?

We offer financing terms ranging from 12 - 84 months*, with flexible options such as deferred payments and early payoff programs based on what the customer qualifies for. We provide both traditional financing programs and loan products, along with working capital options to suit a variety of business needs.

*Term lengths can depend on equipment type, your Account Manager will let you know what your equipment qualifies for!

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How does the approval process work for customers with less-than-perfect credit?

We can typically find financing options for customers with credit scores as low as 550. If a customer doesn't qualify, we'll let them know and are happy to revisit their application once their score improves. Additionally, they always have the option to add a co-signer to their application, and we'll work with them to explore the best possible options. Our goal is to help every customer, and we’ll be there to guide them through the process.

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Can I offer financing on both new and used equipment?

Yes, we can finance both new and used equipment! We just need to ensure there’s reasonable life left in the equipment. If you're unsure, feel free to send us the details, and we'll help determine if it's a good fit for financing.

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How do I integrate financing into my sales process?

We make it easy to integrate financing into your sales process by providing customized collateral for your team so they don’t have to be financing experts. The best results come from teams we connect with directly, so we’d love to set up an initial training session with your sales team to help them understand the process and to learn how to naturally introduce financing as a solution in conversations. Additionally, we’d be happy to connect with anyone on your marketing team to learn more about your go-to-market strategy and ways in which we can support your initiatives with tailored materials and content that align with your goals.

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What support does Five Star Financial provide to help me close more deals?

In addition to comprehensive marketing and training support, we provide timely communication on customer applications and regular updates on every customer you send our way. You’ll always know where each customer stands in the process! These updates will be sent to you automatically, so there’s no need to log into a system to track the progress; you’ll have everything you need right at your fingertips on a cadence of your choosing.

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What happens if a customer defaults?

The funding source assumes the risk, and you’re not liable unless there’s a failure to deliver the equipment according to the terms of the agreement.

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How do I get started and begin offering financing to my customers?

Getting started is easy! Just reach out to us and we’ll guide you through the process and ensure that you’re all set to start providing financing options to your customers the same day.

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Why should I choose Five Star Financial?

At Five Star Financial, we offer financing programs for operators of all kinds, from small businesses to large chains, with transparency and customer service always at the forefront. We act with speed and integrity to ensure that financing is as seamless and stress-free as possible for both you and your customers. Beyond that, we are true champions of the foodservice industry! We understand the unique ecosystem that operators, dealers, manufacturers, and reps navigate every day, and we’re here to support each part of that ecosystem. Our team brings deep industry experience and a consultative approach to every partnership, ensuring that everyone grows together. From tailored financing options to unparalleled service, we are committed to your success. Choosing Five Star means choosing a partner who truly cares about helping the foodservice industry thrive, one deal at a time.