It can be daunting for a new businesses to apply for finance, but here at HardSoft we actively support and encourage new and startup businesses to lease from us. We offer the same terms and conditions to new or startup businesses that we do to long standing businesses, be they limited companies or sole traders.
New businesses can find it hard to establish a credit history, particularly with traditional financing methods such as banks often placing a ‘charge’ on your home as part of their finance deals. As an official Corporate Partner of Start Up Loans – the Government’s Start Up Loans programme which provides finance and support for new businesses – we can provide lease finance from £1,000 to £15,000 for both hardware and software and often with an instant decision with no requirements to provide any bank statements or supporting info.
Small or Medium Sized New Start Business – we lease to all
HardSoft generally deals with two kinds of new business – the first are the individuals who own a small business such as a plumber, perhaps working alone or employing one or two members of staff. These businesses will need to provide us details of the owner’s private address and personal accounts and/or trading accounts, perhaps their cash flow forecast or business plan. The lease company may request a Director’s Guarantee so that we can determine their level of commitment to the business, and in turn, the lease repayments. A Limited Director’s Indemnity may be requested if you have set up a new Limited Company.
The second type of new business we deal with are those larger companies which already have funding or a line of credit in place but who choose to lease for the benefits it offers, such as the warranty, loan computers when there is a problem, technical support from our experienced tech team, and the option to upgrade their kit keeping it up to date and current without the initial expense of outlay. These businesses will also need to provide bank statements and, if everything is satisfactory for the lease company, are able to lease from £10,000 with ease.
Your first payment can be paid by credit or debit card. Occasionally we may require the lease to be over 24 months rather than 36 and a deposit of three months maybe needed should the ability to repay be difficult to assess.
Leasing is a great way to obtain the latest IT equipment for your business and is still the most tax efficient method of acquiring new computers – just ask your accountant! Some of the benefits are:
- You don’t have to outlay the full cost price all at once, helping your cash flow.
- Your lease costs are fixed for the duration of your lease agreement meaning you can budget without having to guess.
- You can offset your lease payments against your annual taxable profits and help to reduce your tax bill.
- Leasing through HardSoft doesn’t result in a charge on your property or large set up fees.