Common Concerns Is finance right for my organisation?
Organisations of every size, across just about every sector, use finance to pay for technology projects and other assets including public sector, corporate entities, charities, SMEs, partner-led businesses, and new start-ups. In fact, many cash-rich businesses choose to use finance rather than paying in cash because of the tax benefits and budget flexibility it provides.
What interest rates am I likely to pay?
The interest rates you will pay will vary depending on the lender, your financial situation, and the terms of the agreement itself.
What if my organisation has poor credit?
Having poor credit will not necessarily stop you from being approved for finance. Bluestone has access to more than 50 lenders, all of which have different funding preferences and credit criteria. Your account manager will know which lenders to approach based on your circumstances.
What if I can’t afford the repayments in the future?
Before you agree to any deal, your Bluestone account manager will go through your current finances and future plans to ensure that you do not enter into an agreement that could hurt your institution in the future.
Can’t I get the same funding from my bank?
Banks do offer asset finance products, but they are limited in what they can offer and you will have a restricted line of credit with them. In addition, banks often want you to put up additional security such as your home, whereas asset finance is usually unsecured.
Is applying for finance complicated?
No, not when you work with a professional finance broker who will structure the best deal for you, guide you through each step, help you with the paperwork, and target your application to the funders most likely to approve it.
How long does it take to apply for finance?
Once your Bluestone account manager has your financial information, a deal could be secured in a matter of hours, but most deals are approved in 5-7 days.
Which type of finance should I use?
The most common financial deals for technology projects are finance leases, but they can include hire purchase or operating lease. The most important point to remember is that there is no one-size-fits-all solution as every project is different. Your Bluestone account manager will be able to structure a bespoke deal to suit your circumstances.