For any start-up business, access to funding can often be a challenge, with many lenders reluctant to support a business with no trading record.

This is where the experience and knowledge of the team at Oxygen Business Finance can make a difference to business owners. We know which lenders to approach and which to avoid, whilst also having a sound understanding of their lending criteria.

A start up courier company specifically servicing the airline industry was recently referred to us by on our banking and finance partners. The business was “pre revenue” and to start trading needed to purchase a suitable commercial vehicle. With no accounts or financials to support (just a business plan), the Director of the business was unclear as to what finance options existed. Following an initial face to face meeting, we quickly put the fledgling business owners mind at rest and within 24 hours we had secured a Hire Purchase facility for the purchase of a used commercial vehicle.

A Hire Purchase (HP) facility allows the asset being purchased to act as the security, supported in this case by a personal guarantee from the business owner (a pre-requisite given the lack of any current business trading record). Repayable over 48 months and with fixed monthly instalments, HP allows the business to spread the cost over the useful life of the vehicle, preserving the businesses start-up capital for day-to-day trading expenses.

For all your equipment and vehicle finance requirements please get in touch with Oxygen Business Finance, “can do” business finance solutions across the UK.