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In an article in the Daily Telegraph, 28th May 2013 Susan Allen, chief exec of RBS’s asset finance arm states that a Lombard survey has found that a lack of awareness of asset finance is causing a loss of potential business to SMEs in the UK to the tune of £5.4billion.
Well said Miss Allen but with the restrictions banks put on the size of deals, the types of equipment they are prepared to fund and the lack of appetite for start-up businesses, the banks are not in a position to address the lack of support for SMEs.
If the government, the financial press, accountants and the banks were serious about moving the economy forward they would find no shortage of asset finance lenders prepared to meet the need of this major market. These lenders would also improve levels of capital investment.
Most asset lenders are free of the constraints imposed on the banks and are able to respond to market demand with speed.
It’s the clout that the government and banks have with the media that could highlight the alternative sources of funding that the business community is unaware of.
One wonders why, when the whole country is aware of the problem, that no major institution is regularly pointing the way to the solution.
A cider manufacturing company in South Wales approached Armada Asset Finance for funding support for a specialist microfiltration system for their production line.
Once their company details and financial data had been received they had a positive decision within 24 hours and the supplier was paid within a day of installing the equipment.
In order to run businesses effectively, entrepreneurs need unequivocal decisions from their funders quickly, without excuses and prevarication.
“Armada Asset Finance made a decision for one of my best clients within 24 hours, on funding an asset that we could not help with.”Lee Owen. BARCLAYS BANK
For years the World has been discussing, planning for and investing in renewable energies and all matters green. Even political parties have been set up to focus on “saving the planet.” Now architects, business owners and householders are taking steps to protect the environment.
Solar panels, wind turbines and ground source pumps are some of the ways to make a difference. However, not all lenders are on board with the need to support investors in green alternatives.
When Tony Cockayne of the Dusthole Inn, Shepton Mallet, decided recently to change the heating of his 15th Century establishment he looked to Armada Asset Finance to fund his gravity fed wood fired boiler system.
With foresight Armada was delighted to finance this energy saving equipment and to continue to help those, where appropriate, who understand the need to change.
Gone are the days of soot covered municipal buildings and churches. Gone are the days of smoking in public. We all need to encompass and invest in innovations that improve the planet for future generations.
Armada has a long standing reputation for funding specialist equipment or ground breaking plant. An open-minded approach to assisting entrepreneurs is the way forward.
Looking to set up his stylish Ice Cream Store, Giuseppe was introduced to Armada by the supplier of the ice cream machines and refrigeration. Armada was delighted to asset finance the complete fit-out of the store.
Many of the purchases for a retail unit are common to all, the shelving, CCTV and epos systems etc. In food outlets refrigeration and/or ovens are needed or other speciality machines and equipment are required.
Whatever the individual requirements Armada are the one company who welcome new start businesses, will not be picky about the equipment and with 40 year history have significant experience of financing and understanding every sector of the retail market.
“Armada makes funding simple and stress free so I can concentrate on running my business.”
Tim Coffey. THE REAL ITALIAN ICE CREAM CO. BATH
Recent issues over “what’s in my burger beef or horse meat” are making discerning shoppers question whether supermarkets are the place to buy the Sunday roast or the sausages for the family barbecue.
Local butchers, dependant on customer satisfaction and loyalty, have a fabulous opportunity to come back into their own on the high street, as artisan bakers are doing.
Since 1997 Chris Taylor of Taylor Made butchers in Trowbridge has been using asset finance from Armada to fund the purchase of his refrigeration, cold rooms, vacuum packing machines and epos systems.
As Chris recently said
“I was delighted with Armada’s support when I first started my business. I have used other asset funders but only Armada seems to do what’s on the tin.”
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