Trumpf bank draws interest from UK customers
1 min read
UK customers can benefit from Trumpf's finance offering in support of their machine purchases, with early interest already shown.
Trumpf Financial Services GmbH is said to be unique: it is the first and only bank to specifically serve the production engineering community, offering a profound understanding of the marketplace and its trends.
"We understand the clients' business and needs and can see potential behind their investment better than anyone," explained Hans-Joachim Doerr, managing director of the bank. "We can offer greater flexibility than others and, unlike alternative lenders, we only use the machine to guarantee the loan."
In the UK, Trumpf has been financing sales in partnership with other financial organisations since 2005. With the introduction of the Trumpf bank in 2014, the company says it can now be a customer's single point of contact for the machine, its finance, ongoing technical support and, potentially, its ultimate upgrade and re-sale.
It's a complete turnkey package for the lifetime of the machine that isn't matched by any other manufacturer, anywhere in the world, says the company.
And although only recently launched in Germany, the interest level amongst customers in the UK is already high. Currently the Luton-based company is processing 10 new finance projects with a combined value of €5 million.
Explains Simon Binns, finance director of Trumpf UK: "Finance projects in the UK are now being processed directly by the Trumpf bank in Germany, using a cross-border leasing agreement. Sales tax is therefore charged using the reverse charge mechanism which offers important cash flow advantages."
