Focus Flexible Finance

We are pleased to offer a new flexible sales tool. COVID-19 has affected every company, but with an enforced close, until at the very earliest the beginning of July, I think it is fair to say the hospitality sector is one of the hardest to be hit.   

However they are not alone; survival is something that has become all too familiar in the commercial world.  Cash reserves are being eaten up just to make it through the next month’s wages, rent and general running costs.  Which begs the question how will companies manage to purchase new stock? Upgrade IT equipment? Purchase thermal cameras? How will they be able to fund purchases to conform to the demand of the new normal?  

Outright purchases may become a thing of the past for the foreseeable future, with just not enough cash in the budget to justify expenditure, with such a low return on investment. More and more finance teams will be looking at more inventive ways to preserve cash flow.  So as suppliers, stand out from the crowd and make it easier for them to say yes to your equipment – have a flexible finance option available to them. 

Flexible

The return on investment will be visible within days or weeks, not months or even years as with a cash purchase, putting a tick in any Finance Manager’s box. However with no visible end in sight, as to when sales will pick up again there could be a concern for serviceability of the agreement over the next few months. 

Therefore we are pleased to be able to offer a new solution, which will provide far more flexibility to the finance we offer – Low Start Payment options. 

Business owners can obtain a more affordable starting option on their finance agreement, making smaller payments at the beginning of their agreement for either 3 or 6 months.  This will help to provide peace of mind for clients needing to maintain cash flow for continued operation whilst also helping SMEs manage the costs of key investments in business assets. 

One of the key things to mention, is it will not affect your payment terms or invoice value at all; you will be paid in full as soon as delivery has been completed, and the customer has signed the delivery note.  

How do you know if your customer is eligible? Either use the following checklist, or contact us and we will ask all the right questions for you and let you know if we can help or not. 

Flexible Criteria 

Trading for over 3 years under current ownership 

  • Invoice value can be up to £75,000.00 plus VAT 
  • If a non-homeowner, must have a UK passport  
  • Strong filed accounts or 3 months’ business bank statements 
  • 60 month maximum term  

Trading for under 3 years under current ownership 

  • Invoice value can be up to £15,000.00 plus VAT  
  • Directors Guarantees’ (must own a UK property or have a suitable guarantor) 
  • 3 months’ bank statements 
  • 36 month maximum term  

The process for you as the supplier will remain unchanged, and as with a traditional finance agreement you can get as involved (or not) as you like.  If you wish to quote your customer in the traditional way, then please continue to do so, as we can calculate the reduced payments from this.  

You will be updated at every stage of the process, and the customer will be referred back to you if they have any equipment queries.  

This is only one of the options we can offer you, as we are still very much open for business. However we wanted to make you aware of this new payment structure as it may help to battle any objections of “the uncertainty of the next few months” when closing a sale. 

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