CPA Bulletin

exceed your competitors and keep your customers happy.” FLEXIBLE FINANCEWHENNEEDED The availability of finance is fundamental to building a competitive fleet in the sectors in which L &WWilson operates. Added flexibility in the nature of that finance can help businesses to overcome the obstacles these industries can present. During the aftermath of the financial crisis L &WWilson found JCB Finance to be pivitol in maintaining financial stability when British industry was in recession and access to finance was limited. Alan Wilson said: “During the recession JCB Finance was one of the few companies that you could rely on to support your business. At that point in time when some customers didn’t pay on time you needed to know that you could raise finance to ensure that your cash flow worked, and you could continue to drive the business forward. “The banks were reluctant to lend beyond what you had but JCB was prepared to refinance other plant so that we could raise cash at a competitive rate. Quite simply, JCB supported British business at a time when others would not. “Nowmarket conditions are more favourable, we always try to keep a reasonable amount of cash available to cover the day-to-day cash flow hiccups that you inevitably get in this industry. Over the last 10 years there have been several times when a large payment has been stopped through no fault of our own, down to less scrupulous businesses trying to leverage a reduced fee. I won’t tolerate that and always fought and won, but it wasn’t easy and the outcome could have been different. Therefore, the idea of a payment holiday to conserve funds in the event of a short-term cash flow problem gives fantastic peace of mind. That’s the beauty of the HP Plus Facility in particular.” JCB Finance HP Plus is an innovative solution that has a ‘Take a Break’ option which allows customers to take up to 6 months of unscheduled payment holidays during a maximum 5-year agreement. This option is in addition to the flexibility of making additional ad-hoc payments or early settlement - and due to the way that the interest is calculated daily it would reduce the interest payable. A SEAMLESS PROCESS A further benefit of using JCB Finance is the ease with which it can be managed. L & WWilson has been particularly impressed with the development of technology by JCB Finance which had led to an increasingly frictionless process. The company is a JCB Finance online user, utilising the online portal to view statements and sign documents online. Alan Wilson said “If you are out of the office a lot, it is a fantastic way to do business, the document arrives and is just waiting for you to confirm at your convenience. It leaves you free to do what matters at the time for the business. We don’t need to use it every time, but it’s a great function to have. When we do, it is very quick. Once the document is emailed we can respond when convenient for us, whatever the time - and JCB Finance then sorts during office hours.” A TRUSTED PARTNER With over 40 years’ experience in providing asset finance for customers in the construction, agricultural and industrial sectors JCB Finance can offer fast, flexible finance solutions that help preserve working capital while spreading payments in a cost- effective and tax-efficient manner. Finance options are not restricted to JCB equipment and are also available for other new non-competitive and used machinery, cars, 4x4s, commercial vehicles, tractors, harvesters, cultivation equipment, balers, trailers, static plant, access equipment and more. The success of JCB Finance has been built on longstanding relationships, a deep understanding of its customers’ businesses and a commitment to meeting their needs. This is echoed in the partnership between L &WWilson and JCB Finance Regional Business Manager, John Bigland. Alan Wilson concludes: “John knows how I want the deal structured, is very approachable and always sorts agreements to suit us. He always has a credit line set up when we need to purchase a machine. I never have to wait while he gets approval whereas with competitors this can take up to a week to sort. “JCB Finance is easy to work with, I know their interest rates are competitive and they work seamlessly with our local dealer. Once you have a relationship going it is very straightforward and hassle free. The service is excellent.” FINANCE: 2 16 CPA Bulletin > December 2018 www.cpa.uk.net