Financing machinery

[Quickthorn]

Has anyone tried to get finance for machinery recently? I'm interested who from, what interest rate and what sort of hoops have to be jumped through (eg. audited accounts for the past x years, business plans etc.).

 

Has anyone dealt with Eagle Asset finance?

[john@arbtech]

Try Anglo Scottish, ring Tim Derham on 0780 7717692.

 

Thats whe we use, but, finance is getting very hard to get!!

[Quickthorn]

Cheers, John. That's my worry really: can people like us still get loans?

[john@arbtech]

The finance houses are still giving money, but are more selective as to who they give it. If you are a home owner, and have a reasonable credit history you shouldnt be to bad, tennants with loads of ccj's cant get a penny!

[Ian C]

I have had finance on a chipper last year now sold it cos i got one cash and just got a new to me 53 plate tipper on finance both with no problem, no books to show nothing, as a sole trader and a home owner its against your home so finance is no problem, if your LTD thats a differant storey.

[Mesterh]

tennants with loads of ccj's cant get a penny!

 

Good!!

 

 

Wouldn't it be worth asking your bank for a loan or part overdraft instead of finance?

[not for sale sorry]

or a credit card?

[Quickthorn]

I'm a tenant..the housing market has been beyond my reach for years now. No ccjs..I've paid every bill they could throw at me, on time and in full, so I hope that counts towards something. Unfortunately, my business account is with a building society and they don't offer overdrafts or loans for business.

 

I thought I'd seen the answer in the Governments small firms loan guarantee scheme. They promise to pay the bank back if the borrower defaults, so I've just finished wading through the pamphlet about it. The killer sentence is buried at the end in one of the appendices: "Forestry: Any activity connected with cultivation and management of trees commercially is ineligible." WHY, FFS? If I was a farmer, there'd probably be a lorry reversing down our drive with a skip full of money for me as I type this.

[john@arbtech]

Only one way to find out, apply for a loan?. Only thing is they prob want 10% and vat. If that is a problem, you could always try leasing?

[Johny Walker]

what kit are you thinking off ? if its a chipper go see orange plant:001_cool: