Member News: Funding Local Businesses

Apr 21st, 2017 - Last updated at Apr 21st, 2017

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Established in 1994, Kingsley Asset Finance is a privately owned asset finance company based in Whittle Le Woods, Chorley.

Kingsley provides funding solutions designed to meet the needs of corporate, professional and SME markets across England and Wales, with advances from £3,000 up to £500,000.

We spoke with Jonathan Smith (pictured), Managing Director, about funding local businesses.

How do you support businesses with funding?

In the current economic climate we feel it is important for businesses to be able to access a variety of funding solutions to support their growth and development. Kingsley Asset Finance lends against the security of business assets and are recognised for considering many older and specialist equipment that other lenders are more reluctant to fund.

We are also able to provide finance against both encumbered and unencumbered assets, which can be very helpful to businesses looking for a cash injection. This may be required for a variety of reasons such as growing a business, help with cash flow or clearing an overdraft.

Over the last ten years we have also offered flexible finance and repayments for the professional sector to include solicitors, accountants, doctors, dentists and vet practices, to name a few. We will fund tax, working capital/cashflow, PAYE, acquisitions, WIP/debtor finance and practice refurbishment and disbursements costs. Eighty per cent of our work in this sector is repeat business, proving that our clients remain profitable year after year.

In the last six months we recognised that businesses had a genuine requirement for cashflow funding. Using our knowledge of loans in the professional sector we were able to develop an unsecure loan product which is proving to be very popular.

Why should businesses come to you for funding support?

We aim to develop an understanding of our customer’s individual needs and have a team of professional and highly skilled people who have a genuine interest in each individual case. Our expertise and specialist risk skills gives us our competitive edge

We believe in speed and efficiency; our customers don’t want to be waiting for a decision they just want to get on with the running of their businesses. We can have their requirements underwritten within 24 hours, finance documents emailed and once we have the signed original back, the money can either be with the supplier or the customer on the same day.

We offer and facilitate a full range of finance products to suit most industry sectors, including:

  • HP and leasing facilities on a wide variety of business assets

  • Refinance options on encumbered and unencumbered business assets

  • Unsecured loans for business and professional sectors

What else should businesses know about Kingsley Asset Finance?

Over the last 12 months we have lent in excess of £12m in asset finance/lease and professional loans to solicitors, accountants, dentists.