Asset Finance

Choosing the right type of asset finance for your plant & machinery, motor vehicles and equipment can help save you time and money to invest in growing your business. Generally speaking, asset finance options include: Commercial Hire Purchases; Financial and Operating Leases and Chattel Mortgages Below is an introduction to these main types of asset finance.

Commercial Hire Purchase

With this type of finance, you hire and use the asset until the last payment. When you make the final instalment, title of the asset transfers to you. You can tailor payment options, including the loan period, a deposit and a larger final balloon payment. To help manage your cash flow, structured payments can be established according to your cash flow.

Finance Lease

With a Finance Lease, the financier owns the asset however you bear the risk of disposal (of the asset) at the end of lease. This type of lease can benefit businesses that need the latest vehicles or equipment without tying up a large amount of capital. You can choose lease payments in advance or arrears and terms up to five years.

Operating Leases

With this type of finance, the financier owns the asset and the client returns it at the end of the term, usually from 12 months to 5 years. When leasing an asset, the fixed monthly payments depend on the useful economic life of the asset and the period of the lease.Operating Leases can often be used to fund a number of different assets. Payments towards this type of finance can sometimes be considered operating costs and will not appear as a liability on your balance sheet.

Chattel Mortgage

Chattel Mortgages are a popular finance solution where you own the asset from the outset and your loan agreement is secured by the asset. You can tailor your loan payments by choosing the term — typically up to five years. Other payment options can include a deposit and a larger final instalment. You can also structure payments to free up cash flow at the times of year you need it most.

Invoice Finance

Invoice Finance or Discounting

In very simple terms, invoice discounting allows you to receive up to 90% of the money you're owed within 24 hours of submitting an invoice. Many businesses like the anonymity offered by invoice discounting. With invoice discounting, your customers need never know that you're using our services. This is particularly important if you have good, solid, long-lasting relationships with your customers: it's not that you have a problem getting the cash from your customers; it's just that you need it now, and not in 30, 60, or 90 days.Invoice discounting is ideal if you are growing fast or need to expand your business, but need a little help with the funds required to get you there.

Factoring

Factoring is similar to invoice finance where you can receive up to 90% of the money you’re owed with 24 hours of submitting an invoice. However this service is not confidential and your customers will be aware of the lender. It is ideal for smaller businesses who do not have a large finance department and who may have customers who don't always pay on time. The lender, in effect, become your credit control service and collect the payments from your customers and once received pass on the remaining balance of the invoice less the service charge.

Accounting

The success of your business can be significantly influenced by your choice of accountant. An accountant can help you to solve problems with tax, cash flow, raising working capital, business change and much more.The best accountants will do more than provide a typical basic service. Their advice could save you significant amounts of money and help grow your business. Here at Working Capital Solutions we have built relationships with a strong network of accounting firms across the UK. We can introduce you to the best accountants from our approved panel. This service is entirely free of charge, and you will receive a free initial consultation with any of the accountants introduced.

Alternative Finance

Alternative finance is any business finance that has not come from a mainstream lender. It has been championed by the Government as an alternative to traditional bank lending. The Small Business, Enterprise and Employment Bill Act 2015 had a significant impact on the rise of alternative business funders.Mainstream lenders often have strict lending criteria that businesses can't satisfy. But if your business needs cash fast or the bank has turned you down, we'll find the right alternative lender for your business. Some of the various products include unsecured loans & overdrafts, crowd funding and peer to peer lending.

Trade Finance

Trade finance assists businesses who require funds at the start of a transaction in order to pay their supplier for goods which will be converted into sales. The purpose of trade finance is to provide an exporter or supplier with accelerated receivables / payment for goods and an importer with extended credit, therefore removing the payment risk and supply risk. Any trading business sourcing goods from the UK or overseas could have a need for trade finance, whether it is due to experiencing seasonal fluctuations or having a funding gap that is holding them back from fulfilling their forward order book. Effectively, trade finance is a means to help complete deals or transactions that would otherwise fail to be completed, thus increasing a company’s turnover and bottom line profit.

Finance Review

We all review many things annually, be it car insurance, house insurance and even these days our gas & electricity suppliers. If only business owners and directors did the same with their businesses. It is absolutely critical that business finances are reviewed on an annual basis as this will tell you as the owner/manager that you are continuing to receive value from your finance supplier. Here at WCS we are able to review your financial requirements with you and the worst outcome from this is that your existing deal is a fantastic one. This is however, the exception rather than the rule. Give us a call to discuss.

Construction Finance

As a supplier into the construction industry you will be aware of the frustration of trying to get paid by your customer. Having to find the money to pay wages and suppliers long before the main contractor settles the application for payment can create constant cash-flow challenges. Free up your cash to finance wages or purchases to ensure the next stage of the project can continue. Construction finance offers fast access to working capital. This is advanced against your applications for payment or staged invoices. This gives you a safety net for your finances, so you don’t have to rely on payment from your customer before you can make staff and supplier payments, or take on new projects. Finance can often be made available within 24 hours of raising the application/invoice.

Commercial and Business Finance

Commercial and business finance are the products offered by mainstream lenders and include fixed loans, overdrafts and commercial mortgages for start-up and established businesses. Here at Working Capital Solutions we are continuously comparing the best rates, service and value to find our client the best deal.

Development Finance

Property development finance is never straight-forward but financing it should not be an obstacle for experienced developers. We have funding solutions for new projects, renovation work or redevelopments across residential, commercial or mixed use projects.

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