For Businesses
Technology
A property management business was referred via Spark Connect by a Supplier partner.
The business wanted to purchase a £115,000 vehicle to facilitate logistics for inspecting and visiting properties in their operating area. It would also be the director’s vehicle, having both personal and business use.
They had been trading since 2008, with healthy financials in the background.
The client approached the supplier for the vehicle they wished to purchase. To spread the cost and avoid a cash flow impact, they required a finance lease for the asset.
When discussing their options with the supplier, they wanted to understand the likely interest rates to set a cost expectation.
As the supplier utilises the Spark Platform, they completed the necessary information in Spark Asset Finance Calculator, which directly links to the business profile. This provided the client with an indicative quote based on their business risk rating.
The client was satisfied with the indicative quote, so the supplier connected them with Spark.
Once Spark had collected all the necessary information and documentation, they approached the most suitable lender based on the business profile.
An offer that met both the required amount and the indicative quote provided by the Spark Asset Finance Calculator was secured. The client was happy to proceed, as the platform’s tool delivered an accurate reflection of expectations versus reality.
They were highly satisfied with the seamless lending journey facilitated by Spark’s platform.
A finance lease is a type of lease agreement where the lessee (the client) can use an asset, such as a vehicle, for most of its useful life while spreading the cost over a fixed term through regular payments. The lessee effectively takes on most of the risks and rewards of ownership, even though the legal title remains with the lessor (the lender). This option is particularly advantageous for businesses that want to avoid a significant cash outlay upfront, preserve working capital, and benefit from fixed, predictable payments while still using the asset for their operational needs.
As a founder of multiple businesses, Jamie believes that mindset, discipline and ambition are key drivers for success, both for his businesses and for his clients.
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