Same shift, different day (at Mrs Miggins’ pie shop)
Last week I wrote about the things that appear on a finance document that really shouldn’t. I mentioned in passing Mrs Miggins’ pie shop. This got me thinking about the different ways that we could help her with her business needs:-
Vehicle finance - Now Mrs Miggins isn’t as young as she was, she feels the cold when out on her scooter, so this will enable her to buy a van for her deliveries (this will also please Ted at Unit 17 as he used to complain that his hot dog wasn’t so hot when it finally arrived)
Asset finance - From refrigeration equipment, to a commercial oven, the whole range of business equipment can be financed.
Software funding - She has spoken to her bank before about lending her the money to buy that accounts package, but was told than intangible assets cannot be financed. We can help.
Commercial Mortgage – Enabling her to buy the property above the shop so that her business partner, the lovely Mr Todd can open his barber shop
Commercial Loan - The shop needs new carpets and a fresh coat of paint, oh and some fancy window lighting like the sandwich shop in Coronation Street.
Now, business has been good for Mrs Miggins recently and she has the cash in the bank to pay for some of the equipment purchases, however her accountant has advised her that with the considerable tax benefits available through lease finance, that this would be the most tax efficient way of funding these.
Obviously she doesn’t pay her shop staff a year’s salary in advance, so by paying for her business assets on a monthly basis, not only does it ease her cashflow, it also helps with a much quicker return on investment.
As the bank have reduced her facilities during the recent recession, having an additional line of credit through The Boss Corporation, enables Mrs Miggins to keep her existing facilities free for core business use and those unexpected costs that may come out of the woodwork.
This demonstrates how Mrs Miggins really can have her finger in many pies (kindly supplied by the aforementioned Mr Todd) and expand her business without wiping out her cashflow.
So, what can we finance for you ? Call us on 0845 257 4685 to discuss how we may be able to help your business, or simply for a comparative quote against your existing provider.