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News
Well we seem to be hearing
a lot about the green shoots
of recovery but from where
I'm sitting getting cash for
business equipment from your
bank is about as hard as
winning the Masters and
wearing the coveted Green
Jacket.
We are delighted to say
that during this month we
have assisted two brand new
businesses raise over
£150,000 to purchase
equipment needed to get them
off the ground. And all this
without having to give a
first charge on their
children's kidneys!
Case
1
Late last year a new
business was set up in
Swansea by two former
employees of a debt
management firm. The
businesses role was to assist
victims of the credit crunch
cope with debt management
problems. In order to get the
business moving they required
computer equipment and
specialised software to the
value of £75,000 for
their sixteen staff. Having
tried their bank and 5 other
finance companies without
success (one of the Directors
even tried to remortgage his
home) they were on the point
of giving up and making their
staff redundant.
At a networking meeting a
chance conversation led to an
introduction to the local
Area Director for Technology
Leasing in their location.
The proposal was accepted
after only 3 days, the
equipment secured, and the
company now have their
equipment up and running.
"The whole process was
much easier than I have
experienced before, our
business in now assisting
many individuals and
businesses handle their
credit issues as well as
providing employment for
eighteen staff" said a
delighted Managing Director
John Roberts."
Case
2
A new Subway Sandwich
franchise was being started
in the North East of England
by a brother and sister
partnership in their late
twenties, neither of whom are
home owners. They needed
£80,000 for fit out
costs including catering
equipment, fridges, EPOS and
security equipment. having
tried numerous sources they
were on the point of despair
having been declined by their
bank, the supplier's finance
partner and two other well
known catering finance
specialists. It looked like
their sandwich business was
going to be toast before it
even started! All was lost
until a friend copied them in
on our latest news letter and
suggested they try Technology
Leasing. We have sourced the
full £80,000 enabling
them to have their business
hit the ground running - we
even told them to keep the
£10,000 deposit they
offered as we thought it
would be better used in their
own cash flow. Security was
taken in the form of a charge
of their fathers home.
So before you go and think
"well there's no point trying
to get finance no one out
there is lending"
WE STILL ARE -
PROPOSALS ARE BEING ACCEPTED
EVERY DAY
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iLease
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