6 Types of Financing that Will Help Your Scaffolding Business Thrive

As a business owner, you’re constantly on the lookout for new, innovative ways to grow and better your business. Fortunately, here at Scaffold finance, we offer a whole range of business funding to elevate your growth. From business loans and hire purchase agreements to invoice finance and equipment refinancing – each type of financing offers unique advantages that can help your business succeed. Let’s take a look at four types of financing so you can make the most informed decision possible.

Business Loans

For many businesses, taking out a loan is the best way to get the capital needed to cover multiple short-term expenses. When applying for a loan, it’s important to find the best agreement type for your business needs. But not to worry, here at Scaffold Finance we will source the best finance option tailored to your needs. With our wide panel of funders, we are sure to find the best funding facility for you.

Operating lease

An operating lease allows businesses to gain access to required assets without the long-term commitment of owning them. Companies enter into these short-term contracts so they have the equipment and other assets they need to run their operations. Operating leases can be used for nearly any asset you can think of – from vehicles, computers and laptops to software or even drones.

Hire Purchase Agreement

A hire purchase agreement is where you can purchase your required equipment on finance over an agreed period. How this works is you make small regular payments spread across your agreement term. Then once you reach the end of this agreement there will be a balloon payment. After this, the equipment is all yours!

Equipment Refresh Cycle

An equipment refresh cycle is quite how it sounds. This type of finance agreement allows you to stay updated with the latest kit. Whether it is the most cutting-edge laptops or computers to work on or servers to run your network with, it is vital that you can access the right tools to help your business thrive. This agreement is similar to an operation lease- only with upgraded equipment to replace your old at the end! So, this type of finance is ideal for depreciating assets such as technology and vehicles.

Invoice Finance

Invoice finance is essentially when you borrow money against outstanding invoices rather than waiting for late payments. This type of financing allows businesses to maintain a healthy cash flow without having to wait for customers or clients to pay their invoices on time. Invoice finance typically involves two different types of payments: factoring fees and discount fees. Factoring fees are charged for using the service. Whereas discount fees are deducted from each invoice as soon as it’s paid by the customer or client.

Equipment Refinancing/ Sale and Leaseback

Equipment refinancing, AKA Sale and Leaseback involves taking out a finance agreement against equipment purchased in the last 6 months. Perhaps you made an outright purchase on equipment within the last 6 months and now you are seeing cash flow problems. Well, sale and leaseback is the perfect remedy. Enquire now to find out if your equipment is eligible!

Contact Us

As you can see, here at Scaffold Finance we have a myriad of finance options available for your business. Each offering unique advantages that can help your operations thrive and grow! Contact us today to find out the best finance route to take for your business. Give us a call on 01494 506 383, or drop an email to hello@scaffoldfinance.co.uk and a member of our friendly team will get back to you.

Follow us on LinkedIn to stay in the loop!