Leaving no stone unturned:
The role of Mills CNC Finance explained by Ian Barber
New asset finance figures for the UK show that funding is proving popular with businesses that need to invest in new equipment.
This situation is echoed by Mills CNC Finance Manager, Ian Barber, who states that the “number of UK and Irish manufacturers looking at asset finance as a ‘preferred method’ with which to purchase new Doosan machine tools has increased substantially over the last 18 months or so”.
“A significant number of precision manufacturers in the UK and Ireland are busy. They are working flat out, they’re more confident about their prospects and their order books, at least in the short-to-medium term, are healthy.
“To help cope with this work many of these companies ideally would like to invest in new machine tools to increase their manufacturing capacity and capabilities, enabling them to complete contracts more quickly and efficiently….and certainly more profitably.
“This is where we come in”.
Mills CNC Finance adopts a flexible approach and works closely with customers getting underneath the skin of the organisation so that it knows and understands what makes it tick.
Continues Ian Barber:
“The one-size-fits-all blanket approach to asset finance simply doesn’t work. Instead, because we put in the spadework and because every customer is different, the funding options we prepare are tailor-made.
“Furthermore, because we act as a broker and are not tied to any particular lender, customers can be confident that we (and therefore they) will have access to the full range of funding/finance packages and deals that available on the market”.
This holistic and consultative approach means customers can take advantage of innovative funding solutions devised specifically for them by Mills CNC Finance.
So, for example, customers can be advised and helped to consolidate their existing finance agreements (if and where they exist) by extending the terms of a pre-existing arrangement which can enable them to reduce their monthly outgoings.
Mills CNC Finance can also work with customers to free-up any equity capital they may have tied up in their existing machine tools. This approach can help customers liberate this equity to find the deposit for a new machine tool or help them re-structure their existing financial arrangements so that cash flow and access to working capital are not adversely affected.
Concludes Ian Barber:
“Current economic conditions mean that machine tool manufacturers and suppliers need to help their customers’ access the best and most appropriate funding and finance arrangements.
“Customers’ depleted internal finances and/or difficulties in obtaining credit can, for some manufacturers, appear insurmountable.
“But, with a fresh pair of eyes and a fresh approach to funding, we can help (and are helping) manufacturers invest in new machine tools.
“At Mills CNC Finance it’s a case of never saying never.”