As the UK economy slowly recovers from the worst recession in a generation, several businesses have emerged with a distinct distaste for the complexities of high-street bank loans and are increasingly drawn towards the ease and accessibility of alternative finance.
Even today, many banks are still guided by a policy of risk-aversion and have yet to return to their pre-recession levels of lending. For small to medium sized enterprises, this trend has rendered the prospect of securing a business loan somewhat harder.
By contrast, the alternative finance market has witnessed something of a boom in the last few years, with one of the most sought after methods of alternative funding being lease finance.
With lease finance, a company enters a commercial agreement with a finance company that allows them to acquire assets quickly without a heavy impact on their cash flow. The finance company will purchase the asset on behalf of the customer. Having now obtained full use of the asset, the customer can pay in a series of rentals or instalments.
With a funding method as flexible as this, businesses may find that their overall financial health is greatly improved. As more cash is readily available, it becomes easier to react quickly to all and any eventuality.
Lease finance has helped ensure the competitive success of both Sanderson Weatherall, a national firm of chartered surveyors and Gibbons International, a leading export logistics business. Discover how by clicking on the case studies below:
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