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Archive for April, 2011

Trade Finance explanied

Thursday, April 28th, 2011

Trade finance provides the ability for business to purchase goods and stock  from within or ouside the UK. The goods can either be pre sold or unsold. Funding is available for just about any scenario however it does depend on a businesses actual circumstances. Just because a business has been declined by a high street bank it doesnt mean funding wont be available from an independent or specialist trade finance company.

For obvious reasons it is far easier to obtain funding for goods that have been pre sold and in certain circumstances 100% funding can be arranged.  XL Business finance can help you obtain the appropriate funding.

Car Finance

Wednesday, April 27th, 2011

At XL Business Finance we believe we can be at least  just as competeitive as any like for like hire purchase or finance lease quote being provided by most UK based  motor dealers.

Any business or director ordering a new or second hand vehicle can expect to obtain funding rates from as little as 3.5%.  Nowadays motor dealers try to earn as much in the finance as commercial finance brokers and as such they are not always the most competitive. There is always the exception to the rule especially when a manufacturer is running a special interest free or interest subsidised promotion.

Leasing and early settlement charges

Wednesday, April 20th, 2011

“Can I get a discount for early settlement ?”  is a commonly asked question in relation to leasing and hire purchase facilities. The answer depends on the type of finance agreement, the actual finance company and their policies.

If you have an non regulated finance agreement  don’t expect big discounts, especially if you are tied in on a fixed rate deal. As a rule of thumb most finance companies will provide a 4% discount for early settlement for a non regulated fiance agreement however they are not obliged to. You are more likely to get a discount on a hire purchase agreement as opposed to a lease.

However we dont think there are not big savings to be gained. As they say “cash is king so you may as well leave the cash in he bank for a rainy day!

Business Finance Alternatives

Monday, April 18th, 2011

As an independent business finance broker we are still seeing many businesses looking for additional funding but have been rejected by their own bank. Thankfully there are many independent business finance alternatives that can help where the banks for one reason or another cannot help. Whether it is cash flow finance such as factoring or invoice discounting, asset finance or refinance, import or export finace there are so many viable alternatives. It is even possible to obtain Enterprise Finance Guarantee Funding ( EFG) from some alternative sources. A goodbusiness finance  broker will know at least twenty or so different finance comapnies that can help when the banks wont. In addition they will have the network of fundersd to quickly find you a funding solution

Why do I need bad debt protection?

Sunday, April 17th, 2011

Bad debt protection can be provided on a stand alone basis or in conjunction with a factoring or invoice discounting facility. When provided with factoring or invoice discounting it is known as a non recourse facility. Bad debt protection can be provided by an independent credit insurance company or it can be provided by your bank or factoring or invoice discounting company. The idea is that you are insured if one of customers go bust. However not all insurance is the same and it is probably worth shopping around as their as some big differences between the banks, factoring companies and independent providers.

 

 

Sale and leaseback

Saturday, April 16th, 2011

Sale and lease back involves the refinancing of plant and machinery to enable a business to raise cash for any puropse. XL Business Finance is undertaking a number of these projects for a variety of different reasons. At the moment we have 4 deals going through this week however the interesting point is that we are using 3 different fiannce companies. All finance companies have a niche or a comfort zone with a particular sort of customer, sector or type of equipment. Which one is best for your business depends upon your own personal circumstances.

Need equipment finance?

Friday, April 15th, 2011

Obtaining equipment finance can still be a bit tricky in the current environment. The high street banks are still being very difficult although they can do some fantastic deals for their own customers. However not everyone wants to use their own bank as many business owners understand the merritts of not having too many eggs in one basket. XL Business finance for the right customer can arrange equipment finance that will be just as competitive as many high street banks. This will leave valuable funding lines open with your bank for expenditure programmes that are not available for equipment finance.

 

 

Invoice Discounting Companies

Thursday, April 14th, 2011

Invoice discounting can provide cash against up to 85 % of unpaid invoices however there are so many invoice discounting  comapnioes to chooose from.  How do you know whidch uis the right provider for your business.

We all know there are the high street banks providing invoice discounting facilities. There are providers that are owned by lessor known banks foreign banks which tend to havce their own atonomy. And then there are the independents that are not owned by the banks but  are privately owned. Which funder is best for you depends upon your own particulkar circumstances and  a good invoice discounting broker will certainly be able to add value in the process.

Why use a factoring broker!

Wednesday, April 13th, 2011

XL Business finance has been trading for over 10 years and during that time we have developed an in depth knowledge of the UK factoring market. We know at lease 20 different factoring companies each of which has their own unique selling point.

During this time we have placed deals with just over 10 different factoring companies each of which could offer a little something which their competitors couldn’t. for a example a southern based factoring company can be very different from one in the north. Not that there is a north south divide but more because we think you should be local to your particular factoring company.,

 

Asset For Disposal

Tuesday, April 12th, 2011

From time to time XL Business Finance has access to assets that have been on Hire purchase or Finance Lease facilities and have been repossessed. Whilst high street finance companies tend to send most of their equipment to auction the smaller asset based lenders will try and find end users. There are often commercial vehicles, coaches light commercials engineering equipment and printing equipment that are available on favourable terms. Whilst these lenders try not to give the repossessions away for nothing they often can provide favourable finance terms especially if the business doesn’t meet normal lending criteria. If your business is looking for a particular piece of kit it is worth letting us know what it is and we will keep an eye out

 

 
 
 

XL Business Finance Ltd is a privately owned and independent business financing company with established links to many of the UK's leading finance houses. XL Business Finance provides a viable alternative to high street banks that lack the flexibility and imagination to provide a solution to most business users requirements. XL Business Finance can provide a full range of business financing solutions and we ensure a high level of customer service and pride ourselves on quick decisions. Our independent status will ensure any offer of funding and asset finance leasing is best suited to our customer’s needs.

XL Business Finance, Eaton Place Business Centre, 114 Washway Road, Sale, Cheshire M33 7RF UK.

 

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