It has been a very difficult, and tough, 12 months for many businesses but Credo takes pride in being here to help, support and work flexibly to help you invest and achieve your goals of building for the future.
Lewis Buckley, Business Development Manager, said: “Everything that has been going on in the past 12 months has been a little bit disconcerting for a lot of people and investment in the short term was put on hold.
“What we have been seeing fairly consistently since then is a strong demand for borrowing money and a large number of people looking to invest in their businesses in various elements across the board.”
Credo Asset Finance has been able to help these customers because of the efficient and friendly way we operate, with the quick, decision-making from our own book lending option, and our size and stature in the local market.
“Credo is here to help you, if we can, in your business and we are able to work flexibly. We are having far more conversations with more people over this difficult time and having a better understanding of their business and how best we can help them.
“You have a conversation with us and it is our understanding of your business that can ultimately benefit that business and that remains our key strength.”
One market that is showing encouraging signs is the agricultural sector which is very much business as usual.
“They still have to grow the crops and feed the cattle,” said Lewis.
It has still been tough for farmers but Credo has been there to help them plan for more investment and buying extra equipment, new and used, as they look to the future.
One positive outcome of the Government Coronavirus Business Interruption Loan Scheme (CBILS) and Bounce Back Loan Scheme (BBLS) has been that smaller and medium-sized businesses have been able to invest in plant and machinery by putting down a bigger deposit, so reducing the monthly repayments of the remaining finance.
The transport and haulage business had also been able to keep doing business and the construction sector, though impacted in the first lockdown, had been less affected in further restrictions so able to keep investing.
And, along with Government initiatives to keep the economy going, that has led to what Lewis described as a ‘trickle-down effect’ to keep some smaller local companies busy and some money going into the local economy on things such as home improvements or a new car.
“No one has got away on holiday so there is a little bit of extra cash in some people’s pockets to put down as a deposit and finance the rest monthly,” he explained.
The market has also been helped by competitive finance rates and good deals from businesses and manufacturers keen to sell products to meet targets and make up for lost trade due to Covid restrictions.
“We have come out of last year fairly unscathed and we are still in a position where we are able to lend to the right business, on the right terms and in the right scenarios. We are still able to lend money to local businesses to help and support what is needed,” added Lewis.
For more information on how Credo can help your business contact us today on 01603 381955 or e-mail [email protected]