DO you have the tools for the job? If not, can you afford to buy new ones? Still a no? Then maybe it is time for you to consider an alternative to bank funding, namely asset finance.
Reports suggest that lending to firms to invest in new equipment via finance and leasing organisations rose sharply in the last quarter of 2010. Asset finance can be a more worthwhile option for your business to bank loans and overdrafts when it comes to capital investment.
Either the leasing company buys the equipment and the business customer pays a rental cost to hire it without ever owning it. Or hire purchase may be more suitable, when the firm pays a deposit and then regular payments until, eventually, they will own the asset.
Don’t think you are alone in considering moving into this time of borrowing. It is thought that around a third of small to medium businesses with external borrowing have gone down this route.
If you are looking for an asset finance company, you can log on to fla.ork.uk. Be it for cars, vans, office equipment, machinery or any capital expenditure, this could be the viable option to bank finance you have been seeking. What are you waiting for?