Love or hate them pe organised administrations or prepacks are an inevitable part of the economy today. In theory they sound great. Dump the old company together with all the old debt ( mainly crown arrears) , buy the business back off the administrator and start a fresh with a new meaner and leaner phoenix company. It has been well documented that obtaining  cash flow finance such as factoring or invoice discounting can be relatively straight forward however it may not be so simple in transferring existing hie purchase and leasing facilities from the old co into the new co.

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In the last  month or so a new asset funder has entered the broker market providing a much needed alternative to ING  Lease. Aldermore Bank have entered the  asset finance market as a direct competitor or alternative to ING.

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Any business wishing to purchase plant and machinery will know that the banks at the moment are not the most accommodating when it comes to asset finance. During the credit crunch any independence the bank owned leasing companies had will have been pulled back in under the umbrella of the main bank. What this means is that  now there very little difference in applying for a commercial bank loan or a hire purchase or leasing facility. Indeed you will find that your application for either will probably go to the same underwriter for approval. Never has it been truer that the banks will take into consideration you overall exposure when approving any type of borrow including any outstanding finance lease facilities.

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XL Business Finance has certainly got a great deal of expertise and experience in financing printing equipment.  Depending on the type of equipment that needs financing a slightly different approach may be required. For example a company specialising in financing printing equipment will not usually finance digital printing equipment. 

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Many businesses contact us assuming obtaining leasing facilities for new equipment will be a) easier to obtain and b) cheaper than a traditional hire purchase facility. The answer is monthly repayments and ease of obtaining credit is exactly the same. The only difference being slightly different tax treatment. Which finance facility is best for your business depends on your own requirements and preferences.

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We continue to hear horror stories about businesses having their overdrafts pulled by the bank. For years we have been advising customers to avoid bank overdrafts at all costs. Overdrafts are repayable on demand and the banks can and will demand repayment at a moments notice.

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