Asset finance can support a business in various situations and under a diverse range of circumstances. For new businesses, it can be the difference between survival and failure during their first few years of trading; for established businesses, it can be the key to unlocking growth and new opportunities. What we really love to see as finance consultants, is when a business can utilise asset finance continuously to grow to its full potential.
One major benefit of a business utilising asset finance through a Broker is that the Broker will ensure the time is taken to achieve a full understanding of where the business is now and where it wants to be in the future. This therefore allows for the best advice to be given and the most effective decisions to be made.
We recently witnessed a remarkably successful example of this when an Asset Finance Company we often work with – Praetura Asset Finance – were able to help a client a repeat time. Their initial dealings with the client were under a vastly different circumstance to the most recent dealing; the client firstly received support in raising funds to allow their existing finance agreements to be settled and facilitate a pre-pack administration. At this point the client’s company had witnessed their net worth reduce massively, and their cash situation was close to breaking point. However, thankfully the correct support and funding was provided, and their business stayed afloat.
More recently the client required further support, as though the business was performing well day-to-day, and trading was good, a bridging loan that had been taken out a few years’ prior was eating-up a major chunk of their cashflow each month. These bridging loan repayments were preventing the business from progressing as it wanted, and so the client decided to raise further funding to realign their financial position. Thanks to Praetura Asset Finance, the client was able to pay off the bridging loan in full, resulting in a saving of £3,800 each month that could instead be put towards business progression.
As this example shows, clients can utilise the services of Finance Companies more than once, and without those services and funding solutions, often would not survive. Here at Metis Funding Solutions we are proud to work alongside some great companies, many of whom have prevented businesses from failing and instead pushed them on to grow and achieve multitudes of success.
If you’d like to find out how we can help you and your business, simply get in touch with us today – firstname.lastname@example.org