Many businesses in the UK trade on a daily basis with cashflow issues.  They may already have an overdraft with the bank, and also Factor / Invoice Discount.  In the current trading climate across all industries, the banks are reducing overdrafts, usually at short notice.  They’re also trying to get businesses, whether Sole Traders, Partnerships or Limited Companies, to move low rate Commercial Mortgages onto higher rate loans or other higher margin products.  This is a common occurrence day in, day out in UK business, across all sectors.

These factors can have a huge impact on business, whether large or small.  Smaller business do not know where to turn, or who to ask for help.

A lot of businesses, however, do have solutions to this, particularly if they have a business that is doing well, either growing or making profits. The reason being is they have working assets in the business that are either free of any encumbrance / finance, or machinery / vehicles that are still on finance, but have equity in to release.  Richmond Asset Finance Ltd has helped many UK businesses to raise working capital via this method with ease and usually within 7 working days, from proposal to completion.  This method of financing equipment and vehicles is usually easily done, with no set up fees, legal fees or valuation fees, unlike re-mortgaging or raising capital against property and land.  Generally, there are at least 20 main funders lenders in the UK who specialise in this market, offering competitive rates.  With the perceived turning of the economy, there are now more lenders coming back into the lending market, which is helping to reduce the rates of interest.  Plant & Machinery to be refinanced can be relatively any age (up to 20 years) and finance documentation is generally signed on Hire Purchase or Finance Lease, with each product offering different tax benefits for accountancy basis.  These finance facilities are fixed rate, and can be drawn up where repayments are monthly, quarterly or even seasonal, dependent upon the industry.  Unlocking equity in your business assets is a lot easier than you think, underwritten within 24 hours (generally). And with fixed payments moving forward over a specific period, you know where you are with your cashflow.