There are several options to raise finance for the purchase of an asset such as machinery. Recently a local printing firm contacted up to help raise finance for a printer in order to expand their business. They had already sourced a 2nd hand printer and needed to know the best way to finance it.
After our initial fact find with the client, we explained the various options available to them. They didn’t want to put down a lot of money upfront. So, taking that into account we looked at lenders that did not require an upfront deposit. We then explained about the VAT payment for the printer and the options to either pay that upfront or to add it into the loan via a lease option product. As the business had a strong trading history, we were also able to present an option via an unsecured route which would have covered all of the costs involved.
By explaining all the different options available to the client, they were able to make an informed choice about the right product for them. We progressed with an asset finance product and having submitted the paperwork to the lender terms and offers where back within 24 hours we then visited the client at their premises to sign the paperwork and complete all the verification checks that we needed to do. Within a week the lender had done all their checks on the printer to make sure there was no outstanding finance owed and the payment was made to purchase the asset. At the end of the term the client will fully own this asset without any additional lump sum payment.
Here’s what the client had to say “Made it nice and simple. Trustworthy honest advice with fast efficient service.” 5* review
To find out how we can support your business and the options available book a free review to discuss the possibilities.