Ngao Credit Asset Finance: Running a business during this COVID-19 pandemic is not smooth running. As the effects of the pandemic continue to bite, most small businesses are closing down.
As mentioned in our previous post, everyone is trying to anticipate how small businesses will weather this storm and where they will need to gravitate their efforts towards. Most of these businesses are now looking for ways to manage their business finances.
Good thing is that financial institutions are now stepping in, offering small businesses loans that can help them expand their businesses. These bounce-back loans are being offered to all types of businesses. Owners can apply to accredited lenders by filling out a simple online form and everything else will be taken care of.
These loans could be in the form of Asset finance which is basically a type of lending that gives you access to business assets such as equipment, machinery and vehicles, it also enables you to release cash from the value in assets you already own. Asset finance can actually be a very useful financial product at every stage of your business growth. It is very flexible and of course, has more tangible benefits than traditional bank lending that we are all used to because you are securing a loan against a valuable item that your business owns.
Who can use asset finance?
Any type of business that requires physical assets can use asset financing. Obviously, good examples include businesses that engage in construction, manufacturing and even businesses with soft assets like computers.
You can asset finance for a wide range of items. Let’s say you need a new piece of machinery for your construction to replace the old one, or perhaps you just won a big tender and need money to execute it.
Same thing for anyone in the retail business. Perhaps you need new tiles for the new shop you are opening or new computers for your new customer service team to process sales and new orders.
Such is the flexibility of asset finance, that you really can get it for a wide variety of equipment to help grow your business.
Want to know more about Ngao Credit Asset Finance and how it can help your business grow? Visit www.ngaocredit.com or call now on 0709 650 000 for more details.