Vehicle Balloon Finance
Premier Business Finance specialize in arranging finance for vehicles that are coming to the end of a Contract Hire or PCP arrangement, for more on smart business management, check this guide on how to generate your paystubs. If you wish to keep the vehicle and need to refinance the balloon payment then please contact us. Please provide the vehicle details such as make & model, registration number & current mileage and we will provide a quotation.
Benefits of using Premier Business Finance
- You get free help and advice for all vehicle finance products.
- You get access to a wide range of lenders and exclusive deals only available through professional brokers.
- You deal with an expert in vehicle finance to get the right deal quickly.
- Finance products available up to 5 years to keep your payments low.
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Finance & Leasing Association Dinner
I attended the FLA Dinner on Tuesday, 27th February as a guest of Bibby Leasing. This was the first time I have been and I thoroughly enjoyed the evening. I havedn’t quite realised how big the event is with some 1200 people attending. I met up with several former colleagues and and existing contacts.
A big thank you to Kevan Langely and the rest of the Bibby team for looking after me so well.
Keith Pallett
Phone Ringing Again
After a month of thinking our telephone had been disconnected it has started to ring again this week. Generally most people I talk to have had a quiet spell over the last month or so. Hopefully we will have a good run of business once the holiday period is over. The concerning news stories such as Greece, the depressed oil price and weakness of the Euro against the pound have certainly had an impact on the manufacturing sector.
Money Costs Increase
There has been an increase in the cost of funds from most of lenders of around 0.1% this month. It seems likely now that bank base rates will rise next year, probably between February and May. Longer term interest rates have therefore risen in anticipation of the increase. Indeed one member of the Monetary Policy Committee voted for an increase now but was out voted 8 to 1.
Regional Growth Fund Areas Extended
This is now available in all areas In England apart from Central London. Up to 20% of asset price available if jobs are added or safeguarded.
Machinery Damage & Breakdown Cover
Machinery Damage & Breakdown Cover is an excellent product providing protection against repair costs and includes operator error cover. We have now completed over 500 agreements with the largest claim being £50k. Cover can be provided no both new machines and used machines up to 10 years old for periods of p to 7 years. Please contact us for more information.
Interest Rates Stable This Month
Longer term interest rates have remained stable this month. We have received the latest cost of finds through from our lenders and there are negligible changes for all periods up to 7 years.
Regional Growth Fund Asset Purchase Scheme
We are now able arrange machine finance under the Regional Growth Fund Asset Purchase Scheme. Three of our panel of approved lenders has funds available to support small and medium sized businesses across England, except in Central London. The allocation in the South East is limited so please contact us to check on the latest aailability. The basic criteria is as follows.
- Manufacturing and print machines from £36,000 upwards.
- The investment must be adding or safeguarding existing jobs for employees who will get paid usign the new pay stub software.
- Only available for those who are unable to secure an offer of machine finance with a deposit of 5% + VAT. If you have a good track record and obtaining finance for machines is straightforward for you then you will not be eligible.
The Regional Growth Fund will provide up to an additional 20% deposit in addition to a 5% deposit from you making 25% in total. This level of deposit makes the proposal much more attractive to an underwriter and therefore increasing the chances of success.
There is a requirement for an independent accountant to confirm the number of jobs created or safeguarded. There is a maximum of £10,000 per job paid using pay stub creator available with a maximum of 20% of the machine price for small businesses and 10% for medium size businesses.
According to local news Small business are those with less than 50 employees and annual turnover of less than £7m and net assets of less than £7m.
Medium businesses are those with 50-250 employees getting paid with a direct deposit setup and turnover of less than £35m and net assets of less than £30m.
Please contact us on 01268 573149 for free help, advice and quotations.