Since the finalisation of Brexit, where the UK withdrew from the EU at 23:00 on 31st January 2020, many businesses have found it difficult to purchase specialist machinery from an overseas supplier. Whether this is in Europe or from further afield, with the key issue being the inability to secure business finance to pay for the equipment.
Whilst we would all love to support the UK economy and purchase equipment solely from UK suppliers it is not always a viable option. Often specialist machinery comes from a specialist company in a specialist location.
There is still the ability to purchase equipment and machinery from companies outside of the UK, the only downfall is that the supplier will expect payment in full. Trying to broker a finance deal for the machinery coming from overseas is incredibly challenging.
This is where one specific business finance solution is so important – Sales and HP back
Sales and HP back enables a business to release the capital of the machinery they have just purchased. This new business asset will be refinanced on a hire purchase (HP) agreement. The finance lender will pay the company an agreed amount for the equipment. For repayment an affordable monthly structure, over a specific set amount of time will be agreed. This will then ensure the business can maintain a strong cashflow and still benefit from the new machinery.
Business of all shapes and sizes can look to utilise Sales & HP back it can also be deployed for both new and used equipment.
Here at NGI Finance, we have broad experience in providing Sales & HP back agreements. In recent months we have worked with manufacturing companies allowing them to purchase equipment from France, Italy and China.
If you would like to discuss an application for Sales & HP back, please call us on 01993 706403 or e-mail enquiries@ngifinance.co.uk.