2009 saw the market and landscape for businesses wanting to borrow money change dramatically. The worldwide credit crunch affected the ability of many leading financial institutions (including the UK’s high street banks) to lend money; in effect, they ran out of cash. This merely underlined the belief that, regardless of the size of any business, ‘cash is king’. Indeed, it is a fact that the majority of all businesses that fail, do so mainly because they run out of money or cash to trade with.
For owner-managed businesses, managing their cash flow through the current recession is the key to both survival and also future growth. With many high street banks withdrawing or ‘capping’ working capital facilities for businesses in 2009 (e.g. overdrafts or invoice discounting/factoring limits), making sure your business is adequately funded is more crucial than ever.
This is where TVAF can often help. We provide business loans through a range of hire purchase and finance leasing products to enable a business to acquire long-life assets (such as company cars, vans, forklift trucks and other types of plant and machinery). Financing these purchases over a fixed period of time (typically 12-60 months) means a business is not using up vital day-to-day working capital/bank facilities to finance long-life assets. In addition, TVAF has direct access to many of the UK’s leading factoring and invoice discounting providers and can facilitate a free review of your current provider’s offering.
If you are a business owner thinking of buying new vehicles, equipment or machinery in 2010, please contact us to discuss the finance options available to you. Alternatively, perhaps you have vital cash tied up in unencumbered or previously financed assets, such as construction, print and engineering equipment? If so, then we can arrange to value the equipment with a view to releasing the equity back into your cash flow.
For advice on asset finance or the funding of your sales ledger, please call us on 0844 561 7426 for a no-obligation discussion, or visit our website at www.tvaf.co.uk
Thames Valley Asset Finance Limited