Shire Leasing has launched a time-limited asset finance solution which allows UK businesses to acquire new equipment/assets on a quarterly Finance Lease and defer the first payment until the next quarter; with absolutely no additional or hidden costs. This new facility will further protect their cash flow and allow the new assets to generate revenue before any payment is due.
Tuesday 9th February 2021 saw England lapse into its fifth week of national lockdown, whilst the remainder of the UK similarly remained static as they faced enhanced national/local restrictions too. With thousands of businesses across the UK forced to close or scale down operations, many business owners have had no choice other than wait to see how vaccinations progress and how they affect restrictions upon review.
Keen to support these businesses, business finance company Shire Leasing has launched a new Quarterly Deferred Product to encourage businesses to prepare for growth ahead. Available to both existing and new customers, the finance solution will only be accessible until 31st May 2021 (originally 31st March, this was extended on 25th Feb.) and has been created in a further bid to support the UK economy. Mark Picken, Chief Executive Officer of Shire Leasing, said “We’re confident the UK businesses we have supported for 30 years will recover and thrive again post-lockdown. We, like many businesses, appreciate COVID has caused huge difficulties, so this solution has been developed to help businesses prepare for future growth without impacting on their short term cash flow.”
The Quarterly Deferred Product will enable businesses to invest in new or used equipment allowing for the full use and benefit, without having to pay a rental for the first quarter. From quarter 2, the direct debit will collect the first quarterly rental and the finance agreement continues as normal.
Analysing the first lockdown, Picken added: “Understandably, we are seeing SMEs delay their investment plans until the lockdown is over. At the end of the first lockdown in 2020 we saw a rise in demand, but it was coupled with logistical issues around installations and deliveries. We’re hoping this new Quarterly Deferred Product can help the businesses that are keen to grow to overcome these sort of delays and allow the assets to start producing much needed revenues for their business”.
To find out more about how to apply, or for information on how to offer customers business finance options, speak to your account manager or click here to leave a message so a member of our team can contact you. Applications close on 31st May 2021.