Ritchie Bros sells more equipment to on-site and online bidders than any other company in the world. So who did they turn to for help to create Ritchie Bros Financial Services? Travelers.
In 2010 Ritchie Brothers Auctioneers determined that they could increase their sales volume and margin by offering a way for auction patrons to pay for equipment being auctioned. Ritchie Bros chose Travelers as their global partner because of our ability to create customized financial solutions that meet the needs of both Ritchie Bros and its customers.
“By providing our customers with financing solutions, we make it more convenient for them to find the equipment they need for their next project as well as the financing they need—all at the same location.” – Bob Armstrong, COO
Travelers was able to help Ritchie Bros create Ritchie Bros. Financial Services and provide support by delivering the benefits of a broad credit offering to its customers. Flexible and affordable programs were developed primarily for equipment acquisitions in the $10,000 to $250,000 range, with competitive credit terms provided by Travelers and its lending partners, able to meet a broad range of customer requirements.
Ritchie Bros. Financial Services has since been successfully providing user friendly pre-auction credit approvals to assist buyers throughout the U.S. and Canada in making informed and successful auction bids and benefit from fast-tracked funding.
If we can help Ritchie Bros increase its equipment sales volumes and profits, don’t you think we can help you?