Briggs launches asset finance division
September 19, 2016 by David Turner
IMHX 2016 marked the official launch of BE Finance, Briggs Equipment’s asset finance division, which provides tailored funding to support customers’ growth ambitions.
Established to offer greater customer flexibility and ease of obtaining finance, BE Finance provides a total asset management solution. Businesses can finance not only forklifts, but also production equipment and even a complete warehouse solution all in conjunction with Hyster and Yale materials handling equipment.
Briggs Equipment’s Managing Director Peter Jones said: “While businesses have traditionally looked upon equipment acquisition as a procurement decision, we are finding that, increasingly, customers are using the review process as a way to manage their business operations.”
“What’s more, they have grown weary of the burden of dealing with multiple suppliers and are keen to do business with providers who can operate as a ‘one stop’ complete resource.”
BE Finance supports this approach to equipment acquisition and business development. With contracts tailored to meet an individual company’s specific requirements, it offers customers unprecedented flexibility, ease of administration both at inception and throughout the contract and choice.
Most banks and finance houses evaluate a lending proposition on its own merits. BE Finance is different because it considers all aspects of a company’s capital requirements and cash flow to determine where and how to add value.
There are no arrangement fees and no banks or third parties are involved. Customers deal directly with Briggs, which eliminates delays due to red tape and helps to simplify and speed up the decision-making process. With in-house finance experts and access to specialist resources, Briggs can be creative in providing customers with tailored funding solutions.
A BE Finance contract hire plan offers a straightforward approach to equipment acquisition, enabling customers to enjoy the full benefit for the life of the asset. Fixed costs help to make forward planning easier and minimal cash outlay is involved. VAT is spread over the lease period and can be reclaimed on all repayments, which are tailored to suit an individual company’s cash flow. There is no delay or cost attached to machine disposal and no residual value risk.
All BE Finance plans are based around contract hire and incorporate additional benefits. These include the flexibility to off hire equipment early should the customer’s needs change; an upfront payment holiday to help protect cash flow; or an initial cash injection to offset installation costs or termination costs levied by the existing equipment supplier.
Peter Jones added: “Our top priority is putting customers first, channelling our efforts into long-term partnerships that will support businesses by delivering improved operational efficiency. BE Finance is unique in our marketplace. It is a cornerstone of our 'one-stop resource' approach to total asset management – from procurement through to disposal – and is purpose-designed to make it easier for businesses to grow.”