Using your bank to raise commercial finance might seem the obvious route... ...but how much is ‘obvious’ costing you?
What does it take to make a business profitable? Our clients tell us that, cliché or not, it all falls back to the basics. They spend the majority of their time developing ways of generating more sales and negotiating with their suppliers to reduce costs.
Discussing the hard work put into these areas, it is interesting to listen to the innovative ways in which our clients look to reduce costs.What is equally interesting is that there is one major cost that often goes unchecked - the cost of finance.
The reality is that whether refinancing your property, buying a new piece of equipment or borrowing money to improve cashflow, most businesses take the ‘obvious’ option ("we've always done it this way") without exploring whether there is a better, or more cost efficient, alternative.
Running your business is a time-consuming activity and often leaves little time to review whether the financial requirements of your business are being met by your current provider.
- When was the last time you reviewed your banking arrangements? - When was the last time that you reviewed your finance costs? - How thoroughly did you research the financing of your last big purchase? - Are you confident you are getting the best deal from the whole market place.
This is where we can help. Jelf Commercial Finance aims to remove any ‘unknowns’ when raising money for your business by using our experience, market knowledge and buying power to secure you the best possible finance option.
At our initial meeting, we obtain a clear understanding of the background of yourbusiness. We also clarify your existing financial arrangements, in terms of borrowings, bank charges and the services that you use.
We then discuss the financial requirements of the business for the next 12 months. As a growing business:
- Do you need to raise extra cash? - Will you be moving premises or expanding a current site? - Are you looking at the acquisition of a competitor? - Will an expanding sales force increase your fleet requirements?
Having understood what is important to you and your business, we then approach potential lenders to research the most appropriate arrangements. With access to all financial institutions we look to match your requirements with a lender who can provide a financing package that will assist, rather than hold back, your business. Having sourced the lender, we then actively manage the whole process, right the way through to the final drawdown of the loan.
“Having always approached my bank for any borrowing for my business, Jelf Commercial Finance really opened my eyes in terms of their service and the money that can be saved when purchasing a new piece of equipment.” Dick Goodall, Aquamat 4 Seasons
But it's not just about comparing interest rates. Our independence from any institution, experience in the banking sector and strong relationships with finance providers, mean that we can negotiate on your behalf. This benefits you in terms of the nature and price of the terms that a bank will offer. We pride ourselves on our ability to present a transaction to a prospective lender in a format that gives you the best chance of success.
The result, we believe, is that you are happy in the knowledge that the structure and cost of your financial arrangements are uniquely tailored to your needs, leaving you free to spend your time running your business.