The answer is yes – it’s called Sale & Leaseback.
Over the past two weeks Lease Group has seen a significant increase in demand for our Sale & Leaseback service, which effectively enables businesses to convert recent equipment and technology purchases back in to cash.
Due to the current demand, and with only 2% of UK firms accepted so far on Government-backed loans (source: British Chambers of Commerce), we wanted to share details of our service with you.
If your business has purchased equipment or technology in the past 90 days using your cash budget, we can release the value of the purchase back into the business in as little as 24 hours and set you up on a lease agreement retrospectively.
From the point at which the funds are back in the business, the lease agreement operates just like any other lease.
Recently, 1000s of businesses have purchased telecoms and IT equipment to enable home-working, but in haste, have used precious working capital to acquire these remote-working technologies.
The demand for this service has increased due to the current climate; according to the BCC’s figures, 17% of businesses had only enough cash to last a month, while 36% had less than three months’ cash reserves.
Now that the dust has settled on home-working, many businesses are looking at ways to alleviate cash-flow concerns – and one method of doing so is by setting up a lease on the equipment recently purchased – via Sale and Leaseback.
This situation may be applicable to your business right now, so we wanted to share our web page which details the process and benefits – as well as providing a quoting feature to get the ball rolling on new Sale & Leaseback applications.
Please find details of the service here and by all means let your colleagues and customers know that this is an option available to them, to aid their cash-position whilst keeping the equipment and technology already in use.