15 January, 2024
Starting a new business is an exciting venture, but it often comes with significant financial challenges, especially when it comes to acquiring business assets and equipment.
Traditional banks may require a solid financial history, which new businesses often lack. This is where Speirs Finance can step in to support start-ups and new businesses by providing crucial financing solutions for business assets and equipment. At Speirs Finance, we understand that every new business has unique needs, and our team of specialist financiers is well-versed in a wide range of industries, ensuring that we can tailor our services to match your specific requirements.
- Understanding Your Industry and Business
Speirs Finance stands out because of its deep industry knowledge. We specialize in various sectors, including transport, forestry, earthmoving, agriculture, construction, mining, quarrying, and materials handling. Our expertise in these industries allows us to understand your business better than a one-size-fits-all lender. We appreciate that different industries have unique needs and challenges, and this understanding enables us to provide financing solutions that align with your business goals and growth potential.
- Recognising the Value of Revenue-Generating Assets
We recognise that business assets and equipment are the lifeblood of your operations. Whether it's heavy machinery, vehicles, or specialized equipment, these assets are critical to generating revenue. Speirs Finance understands the true value of these assets to your business and acknowledges that acquiring them may require financial support. Our goal is to empower start-ups and new businesses by offering financing options that align with the revenue-generating potential of these assets, helping you drive business growth and success.
- Matching Finance Terms to Economic Life
One of the distinguishing features of Speirs Finance is our commitment to creating sustainable financing solutions. We understand that assets and equipment have a finite economic life, and our financing terms are tailored to match this useful life. This approach ensures that you can align repayments with the asset's capacity to generate income, leading to better cash flow management for your business. We aim to relieve the financial burden on your new business, allowing you to focus on what matters most: growth and profitability.
- Assessing the Character of Business Owners
At Speirs Finance, we take a holistic approach to evaluating creditworthiness. We understand that a new business may not have an extensive financial history, but we don't stop at numbers alone. Our assessment encompasses the entrepreneur's reputation, history in the business world, and their track record of responsible financial behaviour. By doing so, we gain a more comprehensive understanding of the individuals behind the business, helping us make informed financing decisions.
- A Wider View of Industry Conditions
We understand that the success of your business is not just about the assets and equipment you acquire; it's also influenced by industry conditions. Speirs Finance takes a closer look at the broader economic environment and industry trends. We consider the challenges and opportunities within your specific sector to ensure that the financing solutions we offer are well-suited to the current and future conditions of your industry.
- Capacity to Support Repayments
A critical factor in our financing decisions is the capacity of the new asset or equipment to support loan repayments. We work closely with you to assess your business's financial health, taking into account the expected cash flow generated by the acquired asset. This approach ensures that the financing terms are not only suitable for your business but also that they align with your financial capacity.
Starting a new business is a significant endeavor, and the journey is often made easier with the right support. Speirs Finance understands the unique challenges faced by start-ups and new businesses, particularly when it comes to acquiring the necessary assets and equipment. Our expertise, industry knowledge, and tailored financing solutions make us a trusted partner for businesses in sectors such as transport, forestry, earthmoving, agriculture, construction, mining, quarrying, and materials handling.
We recognise the value of revenue-generating assets, and our financing terms are designed to match the useful economic life of these assets. This ensures better cash flow management and supports your business's growth. We also consider the character of business owners and take a broader view of industry conditions to make informed financing decisions. Moreover, we assess the capacity of the assets to support repayments, making sure that the financing solution is a perfect fit for your business.
If you are a new business in need of excavator finance, digger finance, forklift finance, truck & trailer finance, aviation finance, or any other financing on business assets or equipment, Speirs Finance is here to help. Contact us to explore the financing options that can help your business thrive and prosper. Your success is our success, and we're committed to supporting your journey to business growth and prosperity.