- Who can lease?
Our leases are available to all business users (subject to status) – so sole traders and partnerships as well as limited companies. Over the years we have arranged leases for all sorts of small businesses, but we have also done so for multi national companies and even a couple of banks along the way! - I’m not sure about filling in documents and asking questions about my customers’ credentials
No problem, you don’t have to. Using our Managed Leasing Solution all documents can be completed for you and, on your instruction, we will talk directly to your customer to obtain any additional information we may need. - What period of lease can I offer?
It generally depends on the useful life of the equipment. We set a limit of 3 years for IT equipment and software but will finance Telecom over 6 years if required.
- Do I need any qualifications to offer leasing to businesses?
You don’t need any FSA approval but your company must have a consumer credit licence if you want to offer finance to partnerships (less than 4 partners) or sole traders where the rentals over the contract do not exceed £25,000 inc vat. Use this link to the Office of Fair Trading website to apply http://www.oft.gov.uk/oftwork/credit-licensing/credit-licence/apply-online
- How quickly will I be paid?
Providing we have all the signed and completed documents we require, payment is generally made by BACS or CHAPS within 48 hours
- Can new companies get leasing?
The lack of financial history makes it very difficult, but not impossible for new start companies. Directors’ Guarantees and a maximum term of 36 months would be mandatory. For installations of over £20,000 we can consider new companies if the Directors are UK home owners and willing to allow a charge over their property.
- What can I include in a lease?
The bulk of any lease should be made up of equipment, however, you can also include software and installation. Ongoing cost such as service or support cannot be included.
- How do I price a lease?
We will give you guideline rates to use and show you how to arrive at a rental figure. If you are quoting a particularly large contract or you are quoting to the public sector, education or NHS we will usually be able to discount your rate. - Do customers have to pay quarterly?
No. Customers can also pay monthly by Direct Debit, half yearly or even annually. - How do I keep track of my leases?
Your Account Manager will update you with the status of newly proposed leases. Once activated, we will provide you with Management Information detailing all the leases you have put through us (as this is sensitive information a Director of your company would have to send us a written request).
Call us on 0800 783 6735 or email us your details and we will get back to you.
