600 Finance is offering a package tailored to individual companies’ financial circumstances so that the package has a neutral impact on cash flow - current outgoings are not increased.
Offered in conjunction with Close Asset Finance, the package is designed to overcome increasingly tight lending and support busy companies wishing to invest.
The ability to sail counter to the current financial tide is said to be because Close Brothers plc, the holding company which owns Close Asset Finance, has traditionally taken a more conservative approach to finance, avoiding overly leveraging the company and is therefore now in a position to ride out the difficulties faced by other credit companies.
Typically, a package will be created for new machines or equipment with any existing repayments amortised. This ensures that outgoings are not increased despite gaining the additional capacity and earning capability of new machines.
In some circumstances, by restructuring the finance a cash injection for the business can also be negotiated within the new package, giving a company the advantage of ready cash should, for instance, additional materials also be necessary to take on a new contract.
600 Group machine tools divisional managing director David Richardson, said: “To remain or become competitive, to grow and flourish and win additional business - a manufacturing company has to invest in new technology. We are making that possible by providing very affordable, flexible finance packages. Ninety per cent of new machines and equipment installed in UK manufacturing industry had been financed. We are an audacious, confident company, serving the customer in every way can. We are always prepared to take a fresh approach to our business and that of our customers. The finance packages we offer through 600 Finance are a typical example of that”.
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