News Item: Financial Solutions to Help Hire Businesses Invest and Grow

The HAE EHA Commercial Finance team is proud to offer association members a wide range of financial services, providing independent access to the UK and International funding markets.

The goal is to empower hire companies with the financial tools they need to grow and succeed.

Services include:

Rental Fleet Finance; options that help businesses manage their fleet expenses effectively

Working Capital and Growth Loans; designed to provide businesses with the capital they need to fund their operations and pursue growth opportunities

Invoice Finance; allowing businesses to borrow money against the amounts due from customers, improving cash flow

Vehicle Funding; solutions for commercial vehicles, helping businesses manage their transportation needs

Commercial Mortgages; helping businesses secure mortgages for commercial properties

Merchant Cash Advance; a form of funding where a business sells a portion of its future credit card sales for a lump sum payment

Overdraft Replacement; alternatives to traditional overdrafts, providing businesses with more flexible options for managing their finances

Case Study

A HAE EHA member recently approached the Commercial Finance team seeking to restructure their business finances due to their high monthly repayment burden from debt. The business had taken on additional Coronavirus Business Interruption Loan Scheme (CBILS) loans during the pandemic, but the high cost of these facilities was making cash flow very tight and risking the future availability of funds to acquire new rental assets.

The team reviewed all of the member’s outgoings and examined the existing finance agreements. They then put in place a funding solution which created a new asset finance facility. This not only repaid the existing lender but also released some equity tied up in those assets. The new finance facility also provided additional headroom for new borrowings as the rental fleet expanded.

An unsecured loan was secured to enable the business to invest in new staff, marketing, and website redesign. The last stage of the plan was to introduce a new confidential invoice finance facility which created immediate working capital of 85% against each invoice raised. This enabled the member company to comfortably finance their ambitious growth plans, all of which were negotiated and implemented by the Commercial Finance team.

Andrew Craggs, who heads the HAE EHA Commercial Finance team commented, “We have consistently supported members over the past 10 years and continue to see challenging times ahead for the membership but also see significant growth opportunities too.

“Our priority is to ensure that members have access to sound commercial advice and then deliver competitive funding packages from our wide range of finance partners. I strongly encourage members to visit the website and use our new funding calculators to obtain a high-level view of funding availability. Alternatively just give our team a call.”

Paul Gaze, HAE EHA CEO added, “We are committed to providing our members with the best possible financial services to help them succeed. Our new quick quote calculators are just one example of how we are making it easier for members to access the funding they need directly from the Commercial Finance team.”

For more information contact the HAE EHA Commercial Finance team by sending an email to commercialfinance@hae.org.uk, or give them a call on 01522 420499.