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Stage Payments

Machine Finance With Stage Payments

Machine finance with stage payments required by machine suppliers present a problem.  Some lenders have been prepared to finance stage payments in the past but now it is very unlikely.  The problem for the lender is that during the stage payment period there is no machine security in place.  In the event of default the lender is left with no tangible security.  Furthermore if the machine supplier goes out of business then there is unsecured borrowing for the lender and no machine for the customer but still with the liability to repay the lender.

What is the solution?

a)  It will be easier to resolve before placing an order with the machine supplier.  At this point you have a stronger negotiating position.  You could then try and negotiate a small initial deposit, say 10% or 20%.  The balance can then be paid by the lender upon delivery of the machine.

However if the supplier requires a larger initial deposit and maybe further payments before delivery then you will need to finance these yourself.  A Sale & Hire Purchase Back facility can then be used and your deposit and any further payments can be refunded back to you upon delivery of the machine.  The outstanding balance can then be paid direct to the supplier and the final Hire Purchase agreement completed.

b)  If you do not have the cash flow to cover the stage payments then we can arrange machine refinance to finance the stage payments.  Alternatively we can arrange a Funding Circle Business Loan to cover the stage payments.

Please contact us anytime for free help, advice and quotations