Coronavirus-hit firms offered new speedy funding service by Fiducia Group

Asset Finance

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Businesses will have fast access to a wide range of bespoke funding solutions thanks to a new asset finance division that has been launched by Fiducia Group.

Marcus Grimshaw, who is the chief executive officer of Fiducia Group, says the move is designed to “challenge the way the asset finance sector does business”.

Fiducia Group, which is one of the country's leading financial services brokers, says it has launched the services after recognising that so many firms have been impacted by the ongoing coronavirus crisis.

He said: “We are going to challenge the way the asset finance sector does business. For too long, clients have been kept in the dark about the costs and fees they are paying. We will give businesses fast access to a wide range of funding solutions – and we will be completely transparent about our charges and any other fees.”

Fiducia Asset Finance says it “provides access to a range of finance options, along with fast turnaround times of as little as three days”. The new division, which is part of Fiducia Commercial Solutions, will be headed up by business finance specialist Andrew Craggs, alongside a team of experienced asset finance professionals.

A spokesman adds: "Fiducia Asset Finance will work with other brokers who have business clients who need the type of specialist advice that they cannot provide themselves. The new division will enable clients to access: cashflow finance – to create valuable working capital to help a business meet regular outgoings or an expected growth in costs brought about through business expansion.

"Asset finance – to provide funding for a wide range of business assets; invoice finance – to release working capital tied up in goods or services already supplied but awaiting payment of the invoice by the end customer.

"Stock purchase – to enable a business to meet an order by purchasing stock from a supplier that requires upfront payment. Fiducia Asset Finance will put together a bespoke funding package that includes one or more of these elements to achieve a solution that meets the individual needs of each business.”

Fiducia Asset Finance adds that it also offers “industry-leading transparency” to ensure clients are fully aware of the full cost of advice: “Unlike the rest of the financial services arena, the asset finance sector does not need to disclose brokerage fees and it is not unusual for these to be as high as 10 per cent of the loan amount. Fiducia Asset Finance are changing the way of working by offering a fixed, fully disclosed, broker fee to ensure the client is fully aware of the true cost of the advice given.”

Carl Eldridge is a journalist with more than 25 years’ experience working on local and then national newspapers, including a spell on the City Desk at the Daily Express, before switching from print media to the internet.

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