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There has been an increase in financing machinery and equipment over the last year, which has inevitably been prompted by businesses choosing to keep hold of their cash resource as a safety net to weather the storm of the coronavirus crisis.
PMD looks back on its advice offered to Printwear & Promotion over the past three months to remind business owners of the ways they can efficiently invest in the future of their businesses with equipment finance.
Why should I use finance?
New equipment is often financed to support businesses in diversifying their offering and pushing for business growth. Finance allows you to use the equipment to make a profit as it works for you – an innovative way to increase production and boost takings.
Read PMD’s full article on the benefits of finance here
When is the right time to use finance?
The time is now is more pressing as the deadline for the government backed Coronavirus Interruption Loan Scheme (CBILS) gets closer. Even during the current pandemic, investing in new equipment can be a great way to get ahead of your competition and grow your business through investment in the latest garment technology, whilst preserving cash flow.
Using CBILS to do this means you potentially pay nothing for the first 12 months on your assets purchased.
For more information on the benefits of CBILS, take a look at PMD’s January article
How and where can I find more information on CBILS?
PMD is an accredited broker for CBILS and can support SMEs with any advice they need when it comes to buying new assets for your business. Rob Greenhalgh, business development director at PMD Business Finance, said: “With just over a month to go until the CBILS deadline on 31st March 2021, now is the time to seek advice on CBILS and how your business can benefit from its many benefits.
“Arranging finance is sometimes misinterpreted as a hassle and time consuming; this is not the case. I know I speak on behalf of everyone at PMD when I say that we are here to offer honest and transparent, jargon free advice to anyone looking to invest in new equipment but aren’t quite sure where to turn.”
PMD Business Finance was established in 2010 and is one of the largest independent providers of business finance with access to over 100 lenders. Additional information is available here.
The Coronavirus Business Interruption Loan Scheme (CBILS) is managed by the British Business Bank on behalf of, and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy (BEIS). British Business Bank is wholly owned by HM Government and is not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). Full details on CBILS and the list of participating CBILS lenders can be found on the British Business Bank website at: www.british-business-bank.co.uk/CBILS
Contact details:
If you would like any more information, please contact Rob Greenhalgh, business development director at PMD Business Finance, on:
Telephone: 07702 551 383
Email: robg@pmdbusinessfinance.co.uk
About PMD Business Finance:
PMD Business Finance is one of the largest independent providers of business finance. The team act fast and can deliver a range of flexible and competitive finance solutions to all types of businesses. Established in 2010 by Peter Dobson and his key management team, the company has grown significantly and is now lending over £100m each year to UK businesses. The company operates both directly with clients and through professional introductions and suppliers of business assets, providing a diverse and flexible range of business finance solutions, including: Asset Finance, Supplier Finance, Invoice Finance, Business Loans, Structured Finance and Merchant Cash Advance.
Whether you are considering acquiring business machinery, equipment and vehicles, refinancing existing assets, looking for loans to expand or cash flow solutions, PMD can assist you.
