Broker Division Case Study: New Broker – New Challenge
Background:
Admiral Leasing and Loans was recently contacted by a new broker with a funding requirement for one of their long standing clients. The broker had previously used another funder to provide finance for the client’s VAT bill. However, due to the impact of COVID-19, that funder was unable to assist.
Although outside of our typical professions loans criteria, Admiral were presented with a multi partner professional practice requiring a six figure, short term loan facility.
Broker Division Case Study: Existing Partner - Complex Opportunity
Background:
Admiral Leasing & Loans were recently presented with a funding opportunity for a complicated business scenario. The broker, a long standing and supportive partner of Admiral, was working with a client who had recently demerged their business from a corporate group. The broker was asked to provide equipment finance for a new office.
Historical financial arrangements shown in the clients accounts, combined with a business plan that mapped out their medium term objectives future, made this opportunity a real test for Admiral’s underwriting team.
Broker Division Announces Record Asset Finance Year
Admiral Leasing and Loans is pleased to announce that in October 2020, we surpassed the level of broker introduced asset finance business completed in 2019.
In achieving this milestone, we supported three times as many brokers than before, and provided more of our own funding to a greater number of customers.
During these changing times, your clients need certainty when preparing their business for the future.
Although Government supported schemes such as the Coronavirus Business Interruption Loan Scheme and Bounce Back Loan facilities remain available, knowing there is a lender with the commercial capability to support British businesses, gives you and your clients the confidence to embrace the future and move forward.
As an introducer to Admiral Leasing and Loans, you can rely on a funder with over 25 years of experience to make sound and sensible lending decisions. As a niche lender, we can readily respond to the needs of an introducer.
- To work with a lender that shares your values, therefore becoming a seamless extension of your professional team.
- The ability to deliver the required outcome for your client across most industries.
- To know that every opportunity is reviewed thoroughly by an experienced member of our credit team.
- To receive an efficient service which only enhances your reputation as a provider of finance solutions for your clients.
The government has announced that an additional £617 million will be made available for local authorities in England to distribute to businesses.
This new discretionary grant funding will be beneficial to those businesses that may have been outside of the scope for previous grant fund schemes.
In order for a business to be eligible for this grant it must have under 50 employees and be able to demonstrate that it has experienced a significant drop in income due to the Coronavirus restriction measures.
The payments will be split across three levels: maximum of £25,000, up to £10,000 and below £10,000.
HMRC will open the Self-Employed Income Support Scheme (SEISS) earlier than expected on 13 May.
Those who are eligible for the Self-Employed Income Support Scheme will be able to claim a taxable grant of 80% of their average monthly trading profits, paid out in a single instalment covering three months, and capped at £7,500 altogether.
The claims service will open on 13 May, and those eligible will have the money paid into their bank account by 25 May, or within six working days of completing an application.
Are you eligible?
• Self Assessment Unique Tax Payer Reference
• National Insurance Number
Everyone at Admiral Leasing & Loans is here to support you during these challenging times. If you would like to discuss your requirements, please get in touch
The UK government’s fast-track Bounce Back loan initiative is now available and open for applications. Small businesses can now apply for a new 100% government backed loan worth up to £50,000 as part of the government's efforts to help those hit by COVID–19.
- Apply for between £2,000 and £50,000 (max 25% of annual turnover)
- Six year loan term
- No personal guarantee’s are required
- 100% government backed
- No repayments and interest free for the first 12 months
- Interest rate fixed at 2.5% after year 1
- No set up or application fees
- No early repayment fees
- Available if your business is negatively affected by COVID-19
The team at Admiral Leasing & Loans are delighted to have been awarded the Siemens 'Medical Brokers' Best Newcomer 2019 Award.'
Wouldn’t it be great if you could find an easier way to achieve this year’s sales figures? Admiral Leasing & Loans can help. As an equipment supplier, do you offer the right finance option to your customers?
Whilst offering a finance option is proven to reduce cost objections, increasing your margins and efficiency, you also need to make sure you are working with the right finance partner.
To find out how we could make a positive difference to your year contact us now.
With a solid background in developing customer relationships, Bryan joined the Admiral Leasing & Loans team 8 months ago. Based at our Southern sales office in Oxfordshire, Bryan is one of our Internal Account Managers and has slotted into the team so well, it feels like he has always worked here. He keeps in touch with our existing client base to make sure we can help them with any finance requirements they need.
2019 was a record-breaking year for Admiral Leasing & Loans, and after a well-deserved rest over the festive period we are back and ready for the New Year. After helping over 1200 UK businesses with a variety of financial products, we are looking to reach even more businesses this year.
With this year's self-assessment tax return date looming, at an already difficult economic time, leaving enough cashflow to run your business can be a concern. With repayment periods of just 3 months, our short-term loan facilities have been designed to help businesses manage this expense. Allowing businesses to take control of their cash flow and spread the cost of their tax liability into more manageable monthly payments.
- Easy to arrange facility
- Repayment periods from 3 months
- Fixed monthly repayments
- Decisions in as little as 24 hours
- Protects your working capital
- E-documentation option for fast document completion
- Protects existing bank facilities
Research from Hitachi Capital Finance suggests in the face of political and economic uncertainty, British SMEs are remaining resilient through testing times. Despite market uncertainty throughout a prolonged Brexit crisis the research shows small businesses are remaining optimistic with 47% seeing business as usual.
If you’re already wondering how you’ll pay your tax bill in January, while leaving enough cash to run your business, our short-term loan facilities have been designed to help businesses manage this expense. Allowing businesses to take control of their cash flow and spread the cost of their tax liability into more manageable monthly payments, with repayment periods from just 3 months to 5 years.
- Easy to arrange facility
- Repayment periods from 3 months to 5 years
- Fixed monthly repayments
- Decisions in as little as 24 hours
- Protects your working capital
- E-documentation option for fast document completion
- Protects existing bank facilities
- HMRC receive payment on time, resulting in no penalties!
On the back of a very strong October, we are delighted to report that we have had a record November.
Across the month we have supported over 138 UK businesses and secured a record amount of finance, helping them to start or further develop their businesses, and we have also seen a strong blend of both new and returning clients.
At Admiral Leasing and Loans, we love to support businesses at every stage of their development and work hard in cementing long lasting relationships, to ensure that we become the first point of call for our clients when they are looking for new funding.
If you are a customer we have previously arranged finance for, we’d love you to spread the word with other business owners.
As you know we don’t just provide equipment finance, we also offer short and mid term loans. If you introduce a new customer and the deal results in a successful new finance agreement, as a thank you from us you could receive Love2Shop vouchers.
The Love2Shop voucher amount will depend on the agreement value:
Agreement value: Vouchers earned:
Up to £20,000 £25
Over £20,000 £50
Terms and conditions apply.
Contact us today.
Research this month shows that HMRC has reduced the number of approvals for SME funding through the Enterprise Investment Scheme (EIS).
A recent article featured in Business Money, revealed HMRC has reduced the number of approvals it gives for the funding of small businesses through the Government’s flagship Enterprise Investment Scheme (EIS).
HMRC approved only 62% of the total of 3,270 requests from SMEs to raise money through the EIS submitted in 2018/19, down from 75% in 2017/18* (year-end April 5), says Growthdeck, the private investor network.
Over the last 10 years **HMRC had been approving an average of 85% of applications under the EIS scheme.
Read the full article here
This could well leave SMEs with a funding gap. At Admiral Leasing & Loans, we continue to provide fast and flexible funding to support business ambition and growth. We’re always happy to discuss your funding requirements and how we can help.
Contact our experienced team today.
October was a strong month for Admiral Leasing and Loans and leaves us still on track to have our best year to date. In October we helped over 125 businesses secure the finance they needed to develop and grow their businesses.
Assets financed ranged from small pieces of IT equipment right up to medical grade lasers, loans for refurbishments and tax bills were also part of the mix. With only two months to go to the end of the year, we continue to predict a strong performance right to the end of the year, proof that business is resilient to the changing political environment and continuing to invest.
As part of our continued development we have also appointed a broker manager to support our network of brokers. Colin Hanney joined us last month and brings with him a wealth of experience and is very much looking forward to developing our broker network.
New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) held steady in August 2019 but was up by 6% in the twelve months to August, compared with the same period last year.
- Sale and leaseback: Assets are sold back to Admiral Leasing & Loans and then leased back to you for an agreed period.
- Hire purchase: A finance agreement that allows you to purchase assets over a period of time.
- Commercial & professional loans: Loans to help your business grow, whether it be to buy equipment, to cover cashflow or for expansion.
- Operating lease: Primarily used by schools, this option is a rental and ideal if you don’t need the equipment permanently.
- Finance lease: A tax efficient way to acquire business assets, you pay for the equipment as you use it.
- Invoice discounting: Release cash into your business by converting the value of unpaid invoices into working capital.
Unlock the capital held in your assets with sale and leaseback, a simple yet effective way to finance a business that is aiming for expansion.
- Release capital
- Boost cashflow
- No downtime
- Tax savings
- Budget with fixed monthly payments
Equipment finance, usually known as asset finance or a lease, is often frowned upon by cash rich businesses and only offered to customers of equipment sellers to who raise a price objection.
Managing your business finances is totally different to how you manage your personal finance. Any decent accountant will try and save you having to pay unnecessary tax on your profits. This is where equipment finance can help, not only businesses who don’t have the cash to buy outright, but also the highly profitable businesses that pay a lot of tax.
There are a number of ways a business can borrow money to acquire equipment, with leasing being the most common option being offered by equipment sellers. Leasing is a highly tax efficient way for a business to acquire equipment, as the equipment is bought buy the leasing company and then rented to the end user. This means the monthly payments are an expenditure, which is 100% deductible from any taxable profits. Below is a simple illustration of how this is works based on a business that pays at the standard corporation tax rate:
Cost of equipment: £20,000 + VAT
Monthly repayments over 3 years: £640 + VAT
Total repayments over 3 Years: £23,040 + VAT
Tax Benefit over 3 years (based on corporation tax of 19%): £4,377
Total payback over 3 years: (£23,040 - £4,377): £18,663 + VAT
Effectively saving you £1,337 + VAT off the cash price.
Leasing has many other advantages with it being a rental as it has no impact on your existing funding lines, the repayments are fixed through the term, so no sudden increases, and it allows you use the equipment now instead of having to save for it and miss out on any potential income. The cash you don’t use to buy the equipment can then be used to market your new services, which will only increase your profitability.
Of course don’t take our word for it, before buying the next piece of equipment for your business ask your accountant if a lease is the best, most tax efficient way to fund it.
Figures released by the Finance & Leasing Association (FLA) show that asset finance new business overall grew in July by 8% compared with the same month last year.
They also report that new business for deals of up to £20m increased by 7% over the same period, and total FLA asset finance was £3.075bn. The plant and machinery finance, and commercial vehicle finance sectors reported new business up in July by 12% and 13% respectively, compared with the same month in 2018, while the car finance sector saw growth of 6%.
Geraldine Kilkelly, head of research and chief economist at the FLA, said: “The asset finance market made a solid start to the third quarter of 2019. Despite subdued levels of business investment, the industry has seen new business grow by 7% in the twelve months to July.”
The figures all indicate that more and more businesses are focusing on leasing as a more efficient way to acquire capital equipment. Asset finance provides lots of choice, whether you’re looking to unlock cash from items you own, or require new equipment for your business, whatever assets your organisation needs to invest in, Admiral Leasing & Loans has the expertise and the experience to help you.
We are delighted to have secured additional funding and expansion capital facility from British Business Investments.
British Business Investments Limited, the commercial arm of the British Business Bank, is investing £12m over the next five years into Admiral Leasing and Loans.
The investment is expected to double Admiral’s leasing and commercial loan capacity, allowing it to support more businesses accessing asset finance as part of their growth plans over the next five years.
The £12m contribution, British Business Investments’ fourth deployment of its expansion capital variant into the asset finance sector, comes through the Structured Capital Solutions variant of its Investment Programme. The programme helps widen the choice of funding smaller UK businesses can find on the market, and has now committed £700m to providers of smaller business finance.
Michael Hughes, Managing Director, Admiral Leasing & Loans, said: “We are delighted to have secured this additional funding and expansion capital facility from British Business Investments. This combined facility will allow us to double the amount of funding we can make available to our varied SME customer base to support them with their future equipment and working capital requirements.
This innovative product from British Business Investments is a great example of government supporting lending to UK SMEs and will help us continue our rapid growth.”
Asset based finance can help many growing companies by providing a funding solution that can increase at the same rate as the cash flow needs of the business. It is also one of the best ways for a company to finance itself during a period of change, such as expansion.
Size doesn’t matter
Asset-based finance is a viable option for all businesses, no matter what their size. There are many benefits that cannot be found in other forms of financing. Leasing offers many advantages;
- Frees up capital
- Tax efficiencies
- Fixed payments make budgeting and cash flow simple to manage
- Protects your existing credit lines
At Admiral Leasing & Loans, we tailor payment plans to the needs of your business as well as seasonal variations. Whether you are buying or selling business equipment, leasing makes investment easy and quick for you and your customers.
With this year's self-assessment tax return date looming, it has recently been announced that from January 13th, 2018, HMRC will decline all personal credit card payments. The ban is a response to new EU rules that make it illegal for all businesses, including HM Revenue and Customs, to pass on the 1.5 per cent fees that banks charge to process each credit card payment. As a result, instead of covering the cost of the charges itself, HMRC has banned the use of personal credit cards when making a payment.
HMRC does not hesitate in issuing penalties to companies that do not pay their tax liabilities on time. Many businesses have cashflow that can go up and down over time, however, unforeseen circumstances, or a better use for that money can cause problems when it comes to paying.
With repayment periods of just 3 months, our short-term loan facilities have been designed to help businesses manage this expense. Allowing businesses to take control of their cash flow and spread the cost of their tax liability into more manageable monthly payments.
Why opt for an Admiral Loan?
- Easy to arrange facility
- Repayment periods from 3 months to 5 years
- Fixed monthly repayments
- Decisions in as little as 24 hours
- Protects your working capital
- E-documentation option for fast document completion
- Protects existing bank facilities
Contact us today and we will tailor the loan to suit your circumstances moving quickly to avoid any late payment penalties from HMRC.
Wouldn’t it be great if you could find an easier way to achieve this year’s sales figures? Admiral Leasing and Loans may be able to help.
As an equipment supplier do you offer the right finance option to your customers? Whilst offering a finance option is proven to reduce cost objections, increasing your margins and efficiency, you also need to make sure you are working with the right finance partner.
Here at Admiral Leasing and Loans, it’s important for us to get to know your company, products and sales team. We offer training and take part in sales meetings where possible, to make sure that you have all the tools you need to help achieve your 2018 sales objectives. We’ll support you throughout the year putting sales targets and incentives in place.
To find out how we could make a positive difference to your year contact us now.
After 30 years of trading Admiral Leasing have moved to larger premises situated within a converted mill on the outskirts of Oldham. Directors Michael Hughes and James Frost commented that ‘the time is right for Admiral to look to the future. The economic climate is improving and we need to be ready to react and have plans to increase staffing levels over the next few months so that we can increase business and offer the best service possible for our brokers and direct customers old and new.
Moving after 30 years gave us a good opportunity to have a good clear out but we were very quickly up and running again and open for business. So if you are looking for equipment finance or would like to know about the new job opportunities available, why not make contact...
Admiral Leasing staff had a few days of feeling like 'Mary Berry' when all colleagues supported the Worlds Biggest Coffee Morning on Friday 25th September 2015 in support of Macmillan Cancer Support. There was a huge effort from the staff of Admiral, baking and producing cakes and selling them to the staff of the various businesses in the building.
The event was hugely supported by everyone involved in baking and more importantly buying. Admiral raised a great £212.00 in support of this fabulous cause.
A heart felt thank you from all at Admiral Leasing to all who came and bought our cakes, the event was a great success.
THANK YOU
Susette has over the years built a very successful beauty business from a converted garage in her house. She has always invested in technology, but the 3D Lipomed was just out of reach financially. So with the help of Admiral Leasing we managed to create an affordable solution.
She now has the capability of reducing fat, without surgery, along with treating skin tightening and cellulite. Susette said, ‘I am so excited, this is exactly what my clients have been asking for and it is going to be such a boost to my business. I couldn’t have done it without the help of Admiral.‘
Admiral’s Sales Manager, Carol Bolton, is very pleased to announce the birth of her daughter Florence, who was born on the 17th February. All the team at Admiral wish her well and hope she settles into motherhood….but we are also looking forward to her returning to Admiral soon!