And so it begins....

And so it begins....

Welcome to the first edition of "Boss in your box", where every month I'll be bringing you the asset finance news that YOU need to know if you're in anyway tasked with running the financial side of a business.


A Fall in Interest Rates?!

Recent years have seen interest rates rise quicker than the contents of Nigel Farage's stomach during another I'm a Celebrity task, but, one of our lenders has actually just reduced theirs!

This particular lender will however only fund traditional assets, so vehicles, plant and machinery, and the minimum lend is £25,000 (ex. VAT), but nevertheless the rates have come down!

Combine this with one of our tailored funding structures and this could be the difference between investing for the future or just hoping that the future doesn’t turn out too bad. One client, a road maintenance company, recently saved over £2000 in interest alone, thanks to a combination of the rate drop and a bespoke repayment structure.

Reply to this email and let me give you a comparative quote.

PS.  Obviously, we can still fund almost any asset, even software, with other lenders. And not just new equipment either, how about refinancing your existing machinery to top up your cash reserves?

 

 

Director’s Guarantee Insurance

"We are happy to agree the funding for you, we just need personal guarantees from the directors"

For many, hearing that last sentence can send shivers down their spine. Should their business fail, through no fault of their own, the lender can come to them personally, to enforce repayment of the debt.

This is where Personal Guarantee Insurance can help. It will cover up to 80% of the loan rather than the business owner’s home, savings and other personal assets being called on to settle the debt.

PGI is a relatively new type of insurance that offers protection against the risk of a Personal Guarantee being called in by a lender. The level of cover is a fixed percentage of the Personal Guarantee the company director wishes to insure.

Cost will vary depending on whether the debt is secured or unsecured. If your business were to fail, PGI would massively reduce the cost to directors.

We can offer Personal Guarantee Insurance both for new and existing finance agreements.

Get in touch for further information and a quotation.

 

And Finally (see, I told you this would be brief!)

One of our lenders recently financed an exorcism for one of their clients.  Although, if they don’t keep up repayments, their home may be repossessed.

(I’m so very sorry!)

 

I hope this first edition of “Boss in your box” was useful and the final piece not too cringeworthy. Please reply with any financing requirements or queries. 

What can I fund for you?

Harry W.

“I have seen flowers grow in stony places, and kind things done by men with ugly faces" Repairing 120 year old leathergoods and making 📙Handmade 👛Bespoke 👜Leathergoods in Norfolk

1y

Thank you Mike, I found this informative and easy to read. Luckily there was no humour to mar it

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