Senya Crushers Crushing Equipment Sales with APPROVE Financing
Customer Success Story: Senya Crushers
When Rob May tells his customers how much they can boost their bottom line by avoiding the costs of transporting old concrete to a processor, then paying for new aggregate material to complete a job, they get pretty excited.
“I am selling something nobody can have enough of, and that is profit,” said May, sales director for Senya Crushers—and he’s got the stats to prove it.
Based in North Carolina, Senya has pioneered a line of MICRO concrete crushers, conveyors and screen plants that allow small- to medium-sized contractors and aggregate producers to access portable, powerful aggregate processing equipment.
With crushers starting as low as $88,500—versus standard crushers that run upwards of $500,000—even a fairly low-volume contractor can expect to save as much as $250,000 per year in material purchase and disposal costs by being able to crush and reuse concrete on the job site.
“Our machine pays for itself in 3.9 months on extremely minimal volumes,” May said.
A calculator on Senya’s website allows buyers to plug in their own stats and see their projected savings side-by-side with the estimated cost to finance a Senya MICRO crusher. By including a link on its website to a 60-second APPROVE financing application for each piece of equipment it sells, Senya is able to better educate potential buyers about how they can grow their profits with this powerful equipment.
“The money they can make with these things is tremendous—it gets them excited,” May said.
Don’t lose the buyer
Keeping that excitement alive is key to closing deals and enabling more small contractors to obtain the specialized equipment Senya sells. That’s why Senya relies on APPROVE Payments, which allows equipment sellers to give their customers access to a curated network of lenders. It does this with tech-based tools that make it easy to display monthly financing costs, and allow for a fast and intuitive application process.
Before using APPROVE, Senya worked with a single third-party lender. This took Senya out of the process once a customer applied for financing, “and then you lost them,” May said, either because the application process was too slow, or because the customer didn’t fit the lender’s preferred credit profile.
APPROVE solves both of these issues.
“It’s quick and easy,” May said. “It removes the obstacle of starting the application process, because the application is so simple. Once the customer starts the application process and sees they are picked up by somebody, you have overcome the biggest hurdle to closing the deal.”
APPROVE’s unique mix of automated and personalized application updates helps sellers keep track of where their clients are in the application process—a feature that helps May keep his customers engaged.
“Instead of just saying, ‘Let me know what your bank tells you,’ you can say, ‘Hey, you have three lenders looking at you,’” he said. “You have a reason to stay in contact with the buyer to keep that enthusiasm up.”
A network of lenders benefits buyers
Having multiple lenders compete means that buyers of different credit levels can find the best fit for them and feel confident they are getting a competitive financing rate.
May said the APPROVE financing solution’s appeal and ease of use have even helped Senya generate new sales leads. He hopes this means more small- to medium-sized contractors can take advantage of the profit-boosting power of Senya’s MICRO line of crushers.
“There are tremendous benefits to everybody involved,” he said.
In a recent 90-day period, Senya sold as much equipment as it had during the previous year, and May said around three-quarters of that business financed through APPROVE.
“We are closing more deals with APPROVE,” he said. “I would absolutely say it has impacted our business.”