ASSET FUNDING
through both exciting and challenging times. It’s the turmoil and the uncertainty that we have learnt from which makes Hitachi Capital a great fit to understand younger businesses starting up today. We are not a bank; our roots are in
Gavin Wraith-Carter, managing director of Hitachi Capital Business Finance, sees his role as guiding small business through the storm
What is asset finance and is it the same as asset- based lending? In today’s market there exists a very common misconception that asset-based finance and asset-based lending are the same thing - this in fact is not true. Asset-based lending is a specialised method of providing companies with working capital and term loans; it is essentially any loan to a company secured against an existing asset within the business. Asset-based finance is about the acquisition of an asset that is needed for a business to start-up or is needed for the business to further grow in their sector. At Hitachi Capital UK, we work with small
business owners in supplying asset-based finance for their own needs across many different sectors. Asset finance allows owners to structure liabilities in a more manageable way designed around their financial circumstances. Unlike traditional finance lenders whereby
you are expected to pay a big lump sum all at once – often leaving the owner with large debts and even bigger overdrafts - Hitachi Capital Business Finance customers are able to defer the costs and manage payments over an agreed period of time. Having the correct access to funds is vital for small businesses and it’s not the case that one size fits all. Each business is unique and their financial needs are different - which is why asset finance is a greater flexible fit.
Hitachi Capital UK holds its roots in manufacturing; can you tell us what edge you think that gives you in the way you look aſter small businesses when it comes to finance? I think it comes back to the point about the DNA of a business. We have grown up in a manufacturing business and have gone
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manufacturing and, like engineers, we understand the DNA of small businesses and that each is different when you pop the hood. At Hitachi Capital Business Finance, we do not employ the “one size” fits all approach and we don’t expect business owners to select a service that doesn’t suit their needs. With us, a customer picks the product that they like and think is fair and trusted, rather than just something that is off the shelf.
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ASSET FINANCE IS A GREAT WAY OF SAFELY AND INEXPENSIVELY GETTING THOSE NECESSARY RESOURCES
The small business community is jumping
over some unexpected hurdles, some similar to what we had to face, some not – however the difference is we are here to help them through the storm. We care about the individuals and their businesses and I think there is more legitimacy when you come from a similar starting point to many of the customers you deal with. In business you have to get your hands dirty to keep pushing forward and we can empathise with that because we have been there too.
Where can our readers go to find out more out Hitachi Capital asset finance? Have a look at our website; there are all sorts of clues and hints on there about the products we offer and I really would challenge anybody to find something that we couldn’t fund from an asset-based point of view. With the right will, ambition and resources, all small businesses can keep up with larger
enterprises.Asset finance is a great way of safely and inexpensively getting those necessary resources so that they can grow and truly fulfil their potential.
To find out more about Asset Finance, go to
www.hitachicapital.co.uk/business-finance
Hitachi Capital (UK) PLC Business Finance
SME 25
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