What should you look for in a finance partner?

Johnson Reed
3m read

At Johnson Reed, we believe the role of a finance partner goes far beyond simply facilitating funds.

With many different brokers on the market, it’s important that you choose a partner that can meet your requirements quickly whilst being fully invested in your business and its success.

Here are the key qualities that both businesses seeking finance and vendors should look for in a partner.

Seeking Finance

1. Versatility – You need someone who will be able to finance any kit you might need, whether it’s the specialist equipment required for your operation, or the necessities required for the smooth day-to-day running of your business, like your IT for example. Our trademark Quirky Kit Finance endeavours to do just that. We also understand that sometimes your business requires funding beyond the capabilities of equipment finance, which is why we introduced unsecured loan products to our portfolio. This flexible facility can be used for almost any purpose in your business, whether you want to cover an upcoming VAT or tax bill or simply ease cash flow concerns.

2. Process – As business owners, you have more than enough on your plate. We understand that your time is precious, so we aim to make the application process as fast and fuss-free as possible. We help to build your application and can usually take all the details we need in a simple phone call and let you know whether we require any supporting evidence. Your funds can be facilitated in accordance with tight deadlines, or secured for a project in advance so we can press go when you’re ready. On the rare occasion we’re unable to help, we’ll tell you straight away.

3. Common Sense Underwriting – A good knowledge of the lending market is vital. Johnson Reed has been trading for over 15 years and our experienced team know exactly where to place your deal to secure finance at the best rates.

4. Genuine Interest – Our interest in your business goes far beyond the numbers. We’ll always familiarise ourselves with your wider business case to ensure your finance arrangements are in alignment with your goals. Don’t forget – your account manager will always be on-hand to advise and support you.

Vendor Finance

1. Pre-qualify Prospects – A lease option can help you overcome objections to cost and pressure to discount at the point of sale. Your Johnson Reed account manager is always more than happy to provide you with an accurate picture of the rates, terms and repayments your prospect would be looking at, so you can pitch fully-prepared.

2. Compliance – In order to offer finance to regulated business, sole traders or partnerships, your business requires a certain level of verification with the Financial Conduct Authority (FCA). At Johnson Reed, we’ll always ensure that any financial promotion is fully-compliant with stringent regulation so you don’t need to go through the tedious process of applying for your own licence.

3. Marketing – In addition to the latter point, Johnson Reed can provide comprehensive marketing assistance to provide you with fully-compliant and attractive materials to promote the lease option for your products. Simply get in touch to see what we can do for you!