Happy New Year to all our customers and potential new customers. 2010 is undoubtedly going to be an interesting year. On the one hand we started to see a recovery towards the back end of 2009. The number of enquiries we were getting from businesses requiring help with asset finance was definitely on the the up. From our point of view we were definitely starting to see the green shoots of recovery. On the other hand the government must seriously eat into the deficit created by quantitative easing. We are expecting an increase in taxes and massive cut in governmentspending. In our opinion the economy is still balancing on a cliff edge. So what does this mean in terms of obtaining credit.
In our opinion it will still be a very difficult year dealing with the banks and financial institutions. Unless there is a further injection of cash from somewhere it is simple economics of supply and demand. There is a shortage of cash in the market and the banks will continue to cherry pick the best deals. Most of the proposals we are seeing for hire purchase and finance all have a story to tell. None of them are straight forward and over the last twelve months most businesses have had a number of issues. Until we are completely out of the recession the banks and high street finance companies will still be very difficult to deal with.
The good news is that are still a number of independent finance companies able to offer finance for most eventualities. It is is just a case of knowing what which finance company will do what. XL Business Finance has over 10 years experience of helping businesses obtaining business finance for a variety of projects. We believe we can add value to the funding requirements of most business so give us a call today to find out hoe we can help you.
Tags: business finance, hire purchase
