Asset finance allows help to spread the cost of equipment purchases to match the potential income generated from an asset, becoming key to helping cashflow with minimum deposits, spreading VAT or deferring the VAT until the next quarter.
With the current economic and political landscape causing uncertainty, future landscapes are beginning to look more unclear, leading to many people considering cut backs on spending and attempting to make more conservative purchasing decisions.
Not upgrading or repairing equipment combined with inefficiency of older equipment and regulatory changes can become costly for businesses in any sector. For some, there is a knock-on effect as cashflow tightens however, there are solutions.
Another option is asset re-finance from Cambridge & Counties Bank which helps release cash locked in fixed assets, providing a cash injection when your customers need it the most. Our solution often funds expansion plans or deposits for purchasing new assets and can offer terms which are aligned to the working life of the asset, ensuring the repayments match the income streams previously generated by the business. They can also refinance a broad range of assets currently financed by others, settling the outstanding finance and releasing any tied-up equity.
The Bank offers asset finance on a variety of different asset classes including vehicles, construction equipment, plant & machinery, agricultural plant, cars & LCVs, waste management, product & packaging, wheeled assets, cranes and CNC machinery.
At Cambridge & Counties Bank there is an experienced team who can talk you through which asset finance and re-finance options would be available to your customers. Furthermore, they are also waiving the documentation fee on all applications received and approved during September 2019 meaning there hasn’t been a better time to give them a call.
Simon Hilyer, Senior Business Development Manager at Cambridge & Counties Bank said:
“We are keen to support SMEs and help them through this uncertain time. If you have customers who need to maintain and protect their cashflow I’d encourage you to speak with Cambridge & Counties Bank to see how we can help.”
Cambridge & Counties Bank shares a unique ownership structure between two institutions – Trinity Hall, one of the Cambridge University Colleges and The Cambridgeshire Local Government Pension Fund. They specialise in helping customers and businesses with their asset finance, property finance and savings needs. Their strengths lie in their experience of creating personal funding solutions to suit all businesses. To find out more call 0344 225 3940 or visit ccbank.co.uk/waive