A new survey by Cardiff-based Chaseblue Finance has revealed
that 40 percent of respondents were already actively using asset
finance.
In 60 percent of cases this was to relieve pressure on working
capital, in 20 percent it was for tax efficiency, and 20 percent to
release funds tied up in existing assets.
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The survey, which questioned 750 businesses in Wales, also
revealed that 52 percent of businesses had seen no change to their
business loan and overdraft facilities from banks.
Over 35 percent of respondents have also recently started to use
factoring and invoice discounting as a method of capital raising
and credit control.
“As regards invoice discounting, we have experienced a definite
increase in demand in order to convert sales invoices into working
capital,” explained Colin Davies, asset finance director at
Chaseblue.
Chaseblue, a provider of business finance solutions, works with
more than 500 brokers across the UK to provide commercial loans,
asset finance and invoice discounting to SMEs.
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