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Q&A


Grow your business in 2021


During the coronavirus pandemic you may have been tempted to use finance to increase your equipment portfolio, in turn increasing your turnover, but were perhaps put off by all of the jargon. In a Q&A with P&P editor, Melanie Attlesey, Rob Greenhalgh, relationship manager at PMD Business Finance, breaks down the technical lingo and explains how you can capitalise in 2021.


A PMD Business Finance was established in 2010 and is now one of the largest independent providers of business finance, lending over £125 million to UK SMEs. We specialise in working with suppliers and manufacturers to deliver point of sale


Q


Can you provide an overview of who you are and what services you provide?


finance solutions along with asset finance, invoice finance, structured finance and unsecured loans.


A Using finance is a great way of being able to grow your business through investment in the latest garment


Q


Why should a garment decorator consider using finance?


technology while preserving cash flow. Even during the current pandemic, some businesses want to keep pushing and investing in the latest technology to improve output and diversify their current offering.


Spreading their investment over the equipment’s working life ensures vital cash reserves are retained in the business.


Common terms in finance


Here Rob Greenhalgh, relationship manager at PMD Business Finance, provides an overview of some common terms that you may have heard when it comes to finance.


Asset finance


Rob Greenhalgh, relationship manager at PMD Business Finance


Asset finance is a type of lending that will give you access to equipment, machinery and vehicles (business assets). This is predominantly done through a funder who will release the funds to the supplier of the asset. Many business assets can be financed, which allows them to preserve cash flow and spread the investment over a length of time as the assets work for them. Using a


| 58 | January 2021


broker such as PMD can give you access to flexible repayment options such as low start and deferred payment schemes.


Asset refinance


Asset refinance allows you to access a cash lump sum using the equity value of assets already on your balance sheet. It is a secured loan, repaid monthly, that can extend as far as five years, plus interest.


www.printwearandpromotion.co.uk


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