Business Critical Assets
Asset Advantage
Asset Finance and Business Loans. We consider any asset in any sector.
In this issue of the newsletter Vickey Want , Assistant Director of Credit at Asset Advantage , explains what we are looking for with the assets that we fund.
Vickey said: “Asset Advantage is well-known for being prepared to fund any asset type. We don’t have set restrictions as financial credibility is more important than the industry sector and asset type.
However, it is important to emphasise that the asset must be business critical to the organisation. As a general rule we do not lend against asset values, although we don’t ignore them, preferring to underwrite the underlying business credit risk rather than rely on an asset’s residual value.”
Scroll down to see some examples of potentially tricky assets, and Vickey’s explanation of why they reached approval. To help your own proposals have the best chance of success, be sure to download our Proposal Guide which is featured below.
￡71,000 Finance Lease for New Ice-Cream Kiosk
?? Insight from Vickey Want, why I approved this deal: “This customer was very experienced and branched out from the family business, having spotted a gap in the local area. The family business was well established and the new venture is in a good location and is a good opportunity for the business.” Read more>>
￡84,454 Finance Lease for Laser and IPL Machine
?? Insight from Vickey Want, why I approved this deal: “The losses on the balance sheet could be explained by a routine operation, and the business was profitable throughout the rest of the year. The business also did not have much other debt, and the income, property ownership and professional standing of the director meant this deal reached an approval.” Read more>>
￡30,000 Finance Lease for Tanning Salon Equipment
?? Insight from Vickey Want, why I approved this deal: “This business had young directors, however, they demonstrated significant marketing expertise, which would be brought to encourage customers to the new salon. The directors were being backed by their parents, and, most importantly, had produced a great business plan which inspired confidence. Now, over a year on, we have funded 3 assets for this business, and the business itself is doing very well.” Read more>>
Guide to a quick approval
We have listed out the information we like to receive in a proposal in our Proposal Guide. Visit our Content Hub to download this guide, and follow it to give your proposals the best chance of receiving an approval. Visit Content Hub>>
Highlights from our Meet the Funder Day
We enjoyed welcoming members of our broker panel to our offices on 5 March, where we showcased our team and love of motor-racing.
We all appreciated connecting with our broker panel in person. We are a small team, but the majority of us have been here over 10 years and built strong relationships with our brokers in that time.
We hope that you feel the benefit of this ethos when you work with us.
If you have a deal you would like to talk through, please get in touch ??
?? 01256 316 200