Asset Financing - The Solutions are Endless
Asset financing has traditionally been a major contributor to the bank’s volume of business and profits. Our past focus has been primarily on new vehicle financing but as the industry continues to contract, there is an urgent need to find alternative sources of business to meet growth targets.
We have begun to emphasize the financing of new equipment, including construction, manufacturing, agricultural, transport and computers.
Our loan approval process has a minimum of red tape and time delays, which means speedy approvals. Typically it takes a day for the approval, provided all of the required documents are presented by the applicant, and by the second day the vehicle, or other asset, can be ready for delivery.
The cost of borrowing is reduced, as there are no attorney’s fees to be paid with our hire purchase loans and leases. Finally, we have well trained loans officers who understand your individual needs and who can fashion a loan to fit your budget.
Leasing facilities are offered to companies and professionals like doctors, accountants and lawyers. With leasing no down payment is required. There are tax benefits that companies or self employed persons can enjoy as the full monthly lease payment is treated as a business expense. In addition no legal fees are charged.