LincolnX Featured takes a look at our LincolnX members each week, profiling their firm and highlighting key developments within their business.
This week’s LincolnX Featured member is asset finance specialists, Renaissance Asset Finance Ltd, providing funding facilities via premium brokers and direct with customers from all over the UK.
Owned by Arbuthnot Latham Bank, Renaissance Asset Finance Ltd supports commercial finance brokers as well as dealing directly with businesses and high net worth clients; providing finance packages to purchase most vehicles and machines within the £10,000 to £4M bracket.
Offering a free review of current borrowing and growth plans for their clients, Renaissance Asset Finance assesses their needs versus the products available, otherwise signposting to other connections for the benefit of the client.
With the typical deposit level for asset finance at 10% and a term of five years, the business offer appointments within 48 hours and the funding within a week.
Covering the Midlands and North as a Corporate Sales Executive of Renaissance Asset Finance, Steve Norton said: “Each application is underwritten and assessed on an individual basis with input from myself.
“We are also able to refinance existing assets to free up cash-flow to help with expansion plans or just to survive at difficult times.
“Cash-flow concerns cause ‘sleepless nights’ for over 50% of SME owners, cash-flow issues can be caused by multiple factors, late payments is one, but another is growth.
“The business takes on more and larger orders which require more working capital, extra machinery or simply cash is tied up in stock, raw materials and work in progress.
“Most growing businesses can borrow money to fund cash-flow.”
Recently, Renaissance Asset Finance has been involved in local projects, such as supporting the funding of Lincoln’s first purpose built indoor football arena, Active Arena.
Steve said: “I was delighted to support the funding of the recent featured article regarding Daniel Hone and his brilliant indoor football project.”
“Additionally for every deal I complete I donate £20 to St Barnabas, one a week would mean over £1000 each year.”
“I enjoy supporting and promoting local businesses and to help them to survive and to thrive in and beyond Lincoln.”
Click Here to find out more about Renaissance Asset Finance.