Smart Ducks use Oak LeasingGet your ducks in a row,for new start leasing, smartducks use Oak Leasing

Applying for new start finance as a new start business can be quite daunting, but it could be made so much easier.

The key point is to remember that the underwriters will see hundreds of lease proposals for new starts every month, and they do not know you from Adam.

When looking for new start equipment finance, it is best to present all of the information that they will be looking for in a straight forward package, it simply makes their life easier, and so quicker and more beneficial for yourself.

So, ask yourself, what are the things that underwriters will require from me?

Quite simple really, you need to paint a picture for them that will give them confidence in your new business.

Do not apply for more than you can comfortably afford, remember you can always add additional equipment months later if required.

It is far easier to add equipment than have something taken away.

If you are not a home owner, then find someone that is able and willing to help as an external guarantor.

Be prepared to show them your last 3 months bank statements, they can show how creditworthy you really are. With the evidence of savings, and other start-up funds, that demonstrates that you are aware of what is required to think like someone who knows how to run a business. It will give the underwriters that crucial word in you, confidence.

Get your business premises sorted out before you apply, then you can say how long the lease is on your premises, it helps the underwriters understand where you are heading in the medium term.

Choose your supplier well, remember the cheapest price is very rarely the best for you in the long run.

The last question is, do I need a business plan?  Well if you are looking for any amount up to say £30,000, perhaps not, but once you move to higher figures, the underwriters will expect you to have a well thought out plan which includes cash flows, SWOT analysis etc. Money spent here will pay dividends.

If this is prepared well, it can only reflect well on both you and your future business.

If you use the calculator at the top of the page, this will give you an indication of how much your equipment will cost per month. We think we have the some of the most competitive new start equipment finance rates in the UK, that will help saving you money from day one.

Remember we are here to help , so just either drop us an email or give us a call.

We were a start up over 25 years ago, so we know how you feel.