PRIORITY LEASING 25 YEAR ANNIVERSARY
PRIORITY LEASING
MARKS A QUARTER-CENTURY MILESTONE by Melanie Darbyshire supports a dozen underwriters. “More people understand that getting the equipment you need today, rather than saving until you can pay cash, will increase profitability right now,” Sands explains.
Celebrating 25 years in the equipment leasing business, Priority Leasing began as a family enterprise and remains one today. Founded in 1993 by Debbie Sands, Priority entered an emerging field: acting as a broker to facilitate equipment financing for businesses.
Lease terms depend on the client’s credit and lifespan of the equipment. “We try to accommodate the client as best as possible,” Sands says. “We make a lease payment fit within their budget and make sure they understand the tax advantages. We work with their goals.”
Three years after opening, Sands’ husband, Bob Wall, joined Priority. Also from the equipment leasing world, Wall’s credit, administration and financial strengths combined well with Sands’ sales, marketing and relationship proficiencies. “We started out of our house,” Sands recalls. “We had a couple of underwriters and our first salesman worked off the dryer! After our daughter turned two we found office space. We’ve worked together ever since.”
Applications can be found on Priority’s website and are assessed upon submission. “Through our underwriters, we have online credit processes,” she explains. “We can have an approval for a good client in 30 seconds. It might take longer if there’s no commercial credit information available, in which case, we’ll call the client for more details.”
Twenty-five years later, Priority has helped over 7,000 clients lease the business equipment they need. Today, it 96
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Photo by BOOKSTRUCKER PHOTOGRAPHY
An endless variety of equipment is leasable: technology, automotive, medical, construction, office furniture, software and commercial kitchen equipment are just some examples. “We’re very creative,” Sands confirms. “I’ve leased several ambulances, including the equipment and drugs on the ambulance. It just has to make business sense.”
“The concept was quite new,” explains Sands, who had previously worked for a large single-source underwriter. “We act like the hub of a wheel. The spokes are: the clients who need the equipment, the vendor who sells the equipment and the underwriter with the money. We marry all the parties together.”