The question on whether to lease or buy your office refurbishment project is very topical, and with the wide range of alternative funding options currently available, the choice has never been greater for business owners.
There are typically 3 options: cash, bank facilities or lease finance.
Using cash reserves to purchase assets such as a refurbishment or refit is not right for every business. For assets that tend to depreciate quickly, tying up capital in this way can leave cash flow vulnerable and may restrict budget and therefore project specifications.
Historically banks have been the default option for businesses seeking funding to expand or grow. The reluctance of the banks to lend however, coupled with the lengthy application process and additional securities required have led to an increasing number of companies looking at alternatives such as leasing.
There are many benefits of lease finance. It can help a business manage the costs by turning an up-front payment into monthly fixed payments spread over 3-5 years, matching income to expenditure and protecting cash flow for other revenue-generating purposes. There are also significant tax advantages as the payments are 100% allowable. Last but not least the process is quick, with decisions made in days not weeks enabling projects to move forward rather than wait for capital to become available.
Plus Finance specialises in offering lease finance solutions for businesses undertaking office refurbishments or refits. Talk to us about your project, we’re experts in this field and can make it fast, easy and simple to access finance. Call 01494 783773.