welcome to focus vendor finance
We realise that the finance industry is highly competitive and that that you probably receive numerous calls and emails from our competitors. So why consider partnering with Focus?
We are different – we are not interested in “churn” but are committed to providing a long-term partnership to help you meet your clients’ needs.
Our vendor partners develop a high degree of trust and confidence in our abilities. This is essential as you are putting your clients into our hands.
The main benefit our partners appreciate when dealing with Focus is the high level of customer service they receive; they enjoy doing business with us. Focus is here to make finance simple for you to integrate into your sales process, not more difficult.
If you are our perfect vendor partner, you will trust us to work hard on your behalf to ensure happy clients.
is vendor finance right for me?
A vendor finance scheme can help increase your sales, present your product benefits more effectively and quickly, increase the size of your sales, close business faster and make a more complete and professional presentation to your customer.
What do we ask in return? Nothing.
It will cost you nothing to utilise our services and obtain the benefits that vendor finance can bring your company.
You may wish to get involved with providing finance quotes to your customers. We provide everything needed to make finance work for you and grow your business, from full training for your staff where relevant, to access to our comprehensive AutoQuote Online ©.
However more frequently our vendor partners want to just give us a name and let us do the work. Either way we give you a fast and efficient service.
When you do your first transaction on finance, apart from the fact that you are being paid by a finance company instead of your customer, nothing else will change. Your order will come from your customer, you will arrange delivery with them and discuss any warranty or maintenance issues with them.
To get started, we just ask you to complete our simple vendor on-boarding process. We will be able to accept enquiries from you as soon as this has been completed.
Become a Focus Vendor
benefits of vendor finance
Focus want to work with you to offer the complete solution to your clients.
We arrange finance for the whole range of the equipment you supply from £3000 plus VAT, which can also include any relevant consumables and installation costs.
Understanding the intricacies of finance is not your job, but it is however your role to enable clients to spend as much as possible with you.
Utilising a finance option can not only help speed up decisions, but it can also help businesses easily justify spending that little bit more.
It may be the case that if it is not obvious that a finance option is available then clients may go elsewhere looking for this, and ultimately you may lose control of the sale.
The equipment can be installed and operational without the need for capital expenditure. For many sectors your client will see an immediate return on investment by financing their purchase.
A customer may often purchase more expensive or additional equipment if finance is readily available. Reduce customer resistance and overcome price barriers by offering finance.
Order authorisation levels are often reduced enabling your customer to make their decision more quickly.
Combat obsolescence problems or requirement changes as the equipment can be supplemented or upgraded at any time in the future.
Provide your customer with a complete solution for their equipment and finance. Show them you are striving to meet all of their requirements and prevent the need for them to look elsewhere. Give them the solution they need, instead of limiting it to what they think they can afford.
You will receive prompt payment of your invoices, eliminating the risk of bad debts and saving time on credit control, or fees on factoring.
Save time and complement your sales effort by taking advantage of the help available from Focus. Keep control of the account by trusting us to keep you up to date. You can expect a minimal amount of paperwork, and little change from your existing processes.
Finance provides excellent resale and upgrade opportunities increasing future sales levels.
types of facility available
Historically this was the type of finance that was always offered by suppliers. Particularly with SMEs, this type of agreement is now not always in your clients’ best interests. However, we still see many suppliers promoting leasing as saving tax for their customers – we want to make sure our vendor partners use accurate terminology, so just ask for more information and we will be happy to explain.
In the past this type of agreement was used more often for cars and plant than more general business assets. However more and more businesses are taking up this option on their accountants’ advice. Focus are knowledgeable on the tax implications of all types of agreement and are very happy to discuss with your clients, or their professional advisers. The VAT on the cost of the equipment is payable up front with this type of agreement, however we can offer VAT deferrals for larger projects so the cash-flow matches the client’s VAT quarter.
We do not recommend this as an ongoing solution, however some supplier like to offer a short term promotion on 0% interest finance. In simple terms, the agreement for the client is the same as usual but a discount is applied to cover the interest the client would have paid. In our experience it is a bit “smoke and mirrors” – sophisticated clients know there is no such thing as a free lunch!
This is a standard lease or hire purchase agreement, but a monthly maintenance payment is collected withi the direct debit, then paid across to you. There is no interest payable on the maintenance element it is purely collected on your behalf. Any maintenance contract will still exist between you and your client. It is a bit like “contract hire” for equipment.
If you hire equipment to your clients, sub-hire may be for you. We arrange a finance agreement in your business name, with a side letter authorising short or long term sub-hire. This may allow you to take on more clients than cash-flow would otherwise allow.
Focus can provide finance for pretty much anything a business requires. Dependant upon your sector, this may include intangible costs such as installation, subject to the client’s credit.
We will need details of the customer’s business and in some cases their consent to undertake credit searches. We can provide you with some Focus proposal forms if requested. Financial accounts may be required for larger transactions when they are not at Companies House. For newer businesses, details such as bank statements or business plans may also be requested. Every business is different, so it usually simplest and quickest to give us their contact details and we will do the rest for you.
For established businesses with a clean credit history, our underwriting is very flexible regardless of the nature of business or geographical location within the UK. For newer businesses, there is a good chance of acceptance if the owners have a clean credit history and appear on the electoral register; and for larger transactions where there is relevant previous experience, a sound business plan or financial information, and the business owners have a freehold property
Your client will usually make all of their payments by direct debit. Some large organisations have a policy not to sign direct debits. Please call us to discuss such cases, as we are able to accommodate most requirements
It couldn’t be simpler. We will complete all of the documentation for you.
The client can retain the equipment by making a final payment to Focus, usually equal to one monthly payment.
You can speak to any of us and we will answer your questions promptly.
If you are offering finance options only to businesses that are not regulated (such as limited companies) then no. For other situations you can find more details on the Financial Conduct Authority website.
We are sometimes asked what happens if we arrange finance for one of your customers and they cease trading. Under such circumstances you have no liability. If we are unable to track a customer down we may speak to you to see if you have any recent contact with them. If the equipment has to be sold we may ask if you would like to make a bid for it. However there is no obligation.
You will have a dedicated person to get to know you and your business, to assist your clients, effectively an unpaid member of your team.
We will give you bespoke wording to incorporate into your quotes to ensure your clients know you are meeting all of their needs.
Focus can give you a link to a branded finance web page, making it simple for your clients to find out more whilst keeping a hands off approach.
Whether you need online material, bespoke proposals to include with a tender, or flyers for an exhibition, we are here to help.
We are happy to do everything for you but if you wish to generate your own finance illustrations we will give you access to our accurate AutoQuote system.
4 simple steps to more sales and client satisfaction
contact focus with your client’s requirements
focus provide figures and answer any client queries
credit approved and agreement signed
payment made in line with your standard requirements