Compared to even a decade ago, the range of finance products and providers available to business owners has increased to the point where there is something to suit every need and situation. Yet, despite this, our research tells us that high street banks remain the first port of call for many of the UK’s SMEs (39%) when looking for additional funding, which may not be in their best interests.
Do you – or your customers, for that matter – know that you can use your existing assets to raise a deposit to buy new machinery through something called ‘capital release’? Capital release is a quick way to access the value of assets on your existing balance sheet and redeploy that value elsewhere within your business – for example, to fund a deposit on new equipment or unlock some working capital to ease cash flow.
At Close Brothers Asset Finance, The manufacturing industry is a key sector for the business and makes up a significant part of the loan book. We have managed to get into this position because we have always recruited from within the industries we serve. The people our customers deal with know first-hand the challenges and opportunities the metalworking industry faces, which allows us to offer flexible and targeted finance options suitable for each situation.
This detailed knowledge also means we have the confidence to lend through all economic cycles – when others exit during a downturn, we don’t cut lines of credit because over 30 years’ experience allows us to understand that businesses do not necessarily go bad overnight through no fault of their own.
To find out more about Close
Brothers Asset Finance, please visit https://www.closeassetfinance.co.uk/manufacturing or call 01244 457281