Kingsway Finance & Leasing plc is a specialist provider of leasing and asset finance, with a pedigree of 20 years trading based in wilmslow town centre near to Manchester Airport.
Why Kingsway?
- The company’s focus is on small ticket assets, typically ranging in cost from £3,000 up to £100,000. The type of assets financed are wide and varied but include Air Conditioning, Cars & Commercial Vehicles, Catering & Refrigeration Equipment, CCTV Systems, EPOS Systems, Industrial Equipment, IT Hardware & Software, Office fittings & Furniture, Photocopiers· and Telecoms Equipment. Indeed, we will finance virtually any bona fide business asset.
- Kingswoy Finance is privately owned, so is unburdened by the bureaucracy that affects many of our competitors. All credit decisions are made at our Wilmslow office, usually within a matter of hours. We do not operate credit scoring, so each new proposal is individually assessed on it’s merits. This approach means that we con frequently structure acceptable terms for customers who have failed the automated credit scoring process operated by most of the bank & conglomerate owned leasing companies.
- Our customer base is predominantly comprised of SME’s, although it also contains a significant number of well known professional firms and larger businesses that have used our facilities when they have reached their credit limit with our bank and conglomerate owned competitors. To illustrate our own size and track record, our current finance receivables total in excess of £20 million comprising of some 2,000 live agreements.
- We con take care of the whole leasing process if you will introduce us to your customer. Alternatively, if you prefer to incorporate leasing into your sales process, we will supply appropriate documentation for you.
Customer Benefits
- Leasing usually requires only the payment of fixed regular rentals, without a deposit. This eases any immediate cash flow objections and often enables customers to acquire more equipment than they might originally have considered.
- Unlike many alternative methods of financing, lease rentals are fixed for the duration of the agreement. Customers can budget accurately without worrying about possible interest rote increases.
- By leasing on item of equipment, customers are able to match the economic benefit gained by using the equipment, to their chosen lease term. In this way, the equipment is paid for as it works for the business.
- Leasing allows customers to keep existing bank credit lines open, for working capitol purposes.
- Bank finance.com often be varied or even withdrawn altogether with virtually no notice. A lease is non-cancellable and cannot be withdrawn, even if a customer’s financial position deteriorates.
- Lease rentals are usually tax deductible, as an operating expense of the business, therefore significantly reducing the effectiveness of a leasing agreement.
Supplier Benefits
- By “Leading with Leasing”, price objections will be minimised leasing enables the customer to obtain new equipment with only a small initial outlay.
- Once we hove confirmed credit approval and received leasing documentation and the equipment sales invoice, equipment suppliers know that payment will be forthcoming. There can be no risk of supplying equipment and not being paid for it.
- The average time token to pay i~voices now exceeds 60 days in the UK. However, when we receive the completed leasing documentation, the sales invoice will be paid within 24 hours. By using leasing equipment suppliers can grow their business by utilising the cash flow generated by immediate payment of invoices.
- Once a customer has entered into a leasing agreement, equipment suppliers know they will hove a “hot” sales opportunity, if they approach the customer in the last year or so of the agreement. Our experience is that many customers ore keen to “upgrade” their equipment, for only a small increase in the rental they have been paying.
- Equipment suppliers can choose whether their sales force carries leasing documentation for use at “Point of Sale”, or whether Kingsway’s experienced New Business team handles the entire leasing process on their behalf.
