SME finance is a great way to breathe new life into your business. Here at WestWon, we have provided finance to thousands of SMEs throughout the years. Our aim is to support businesses in their growth, and we have succeeded in helping thousands across the UK.
We can finance pretty much anything from £1,000 to £10m. So, whatever your business wants, or needs may be, rest assured you will be taken care of in our hands.
Why do so many SMEs use finance?
Cash flow health
The benefits financing has upon a company’s cash flow is the primary reason as to why SMEs use it. Finance allows you to disperse the amount of an asset over the course of usually 1-7 years. Therefore, freeing up cash in the business to be used elsewhere!
The payments are fixed throughout the payment term. This means it will make it easy for you to cash flow forecast for each month.
Did you know that all rental repayments are fully deductible against your company’s corporation tax bill?
Alternative source of credit
No need to use up an existing bank facility! Financing through WestWon means you can keep your existing sources of credit in place for other purposes.
Another reason why so many SMEs use leasing and asset finance is because it allows them to remain competitive within their sector. This is because leasing makes it more affordable to obtain the most recent technologies.
Technology is also ever evolving, meaning that it is constantly deprecating in value. Therefore, by purchasing it outright, you are only setting yourself up for a loss. But, by using an IT refresh cycle, your business can stay modernised. The term duration for this type of agreement can be from 1-5 years. Although most will take out 3-year agreement for this, due to how fast technology is now evolving.
There is no doubt that the standard of advancing technologies we have now, can improve business productivity by miles. Keeping up with the newest technologies can make all the difference in a competitive market. After all, customers will choose the most effective service.
To find a finance option best suited to your business, please don’t hesitate to get in touch. Give us a call on 01494 611 456. Or send an email to firstname.lastname@example.org, and a member of our friendly team will get back to you. You can also see more over on our LinkedIn page.