Last week, we hosted our very own webinar – discussing securing finance, funding and freeing up cash flow – alongside representatives from Barclays Corporate Banking and Close Brothers Asset Finance.
We saw this as a golden opportunity to share knowledge, answer questions and help businesses with their financial queries during these uncertain times.
In case you missed attending on the day, here are our top takeaways from the session. You can also listen again, here.
Barclays Corporate Bank
First to take to the virtual mic was Oliver Whitehurst, relationship director at Barclays Corporate Bank, who currently helps over 35 SMEs in the local area. Oliver walked us through the various types of funding and lending options available for businesses that may be struggling in the turbulent financial climate.
He explored the following options for delegates:
Overdrafts are a flexible, on-demand finance facility which can help businesses meet day-to-day financial obligations and fund further growth. Oliver noted that what sets an overdraft apart from other finance options is the absence of a fixed repayment date and that an interest rate is only applied to the amount that is borrowed.
Trade loans are available for companies trading in the UK or internationally and are useful in bridging the gap between the ordering of materials and receiving payment from customers.
Trade loans with asset finance offer end-to-end financing solutions to allow organisations to make large asset purchases. And the client would eventually repay the loan through rentals via a finance agreement.
Close Brothers Asset Finance
Next up was Liam Given of Close Brothers Asset Finance, taking a look at their CBILS (Coronavirus Business Interruption Loan Scheme). CBILs can provide working capital for smaller firms in the UK that are experiencing lost or deferred revenues due to Coronavirus.
The Government-backed scheme has been provided by the British Business Bank with the aim of supporting the continued provision of finance to UK enterprises. With the help of a CBILS loan, organisations can borrow up to £5m of additional funding on top of their invoice finance facility.
Liam also opened up about some of the waste and recycling assets which Close Brothers commonly helps with financing, including shredders, crushers and vehicles. He reiterated that Close Brothers works with clients to find an affordable way to spread the cost of the equipment they need through tailored packages – as there’s no one-size-fits-all solution for all businesses.
Finally, to wrap up the webinar, UNTHA UK’s managing director Marcus Brew took to the floor and discussed the different options for financing a shredder. Before selecting any given finance route, he suggested some key points for businesses to consider – such as their preferred deposit amount, installation and running costs, plus how much revenue the product could generate.
“We look at the scheme as a whole – not just what cash you need for UNTHA products, but other equipment you may require too,” he said.
Marcus then explained how return on investment is a vital piece of the puzzle when companies are exploring finance options for buying a shredder.
For example, a key driver for ROI is power savings – given fuel consumption can be a huge drain on resources, particularly in waste businesses – and here at UNTHA, we’re constantly looking at ways to reduce costs for our customers. All our equipment has been manufactured to ensure energy efficiency advantages are as high as possible.
We can also help organisations to create a more accurate business case/investment plan, which in turn, strengthens their application process with banks or lenders, and hopefully ensures a swift approval.
We would like to say a massive thank you to our fantastic speakers and to all those who attended. For those who missed it, the presentation is available to download here.
To reach the UNTHA UK team to discuss anything further, please call 0845 450 5388 or please send your questions, comments and feedback to: firstname.lastname@example.org.
We hope to see you at our next webinar – watch this space!