Tag: Start-up Loans Yorkshire

5 reasons to invest in a mini excavator

15th January 2020 / / Comments Off on 5 reasons to invest in a mini excavator

Are you using your excavator to its full potential, or could you do the same job using a mini excavator?

Mini excavators are practical, affordable and hassle-free pieces of machinery.

Whilst they’re not always suitable for largescale jobs, if you can get away with using a mini excavator over a bigger wheeled, tracked or truck-mounted excavator then there are plenty of benefits to be had.

Manoeuvrability

The mini excavator is the perfect piece of machinery for working in small or tight spaces. It offers the same level of performance as a larger excavator but in a more compact and practical design. The small size of the mini excavator makes it nimble and agile on-site and means transportation is simple and hassle-free.

Easy to operate

Mini excavators tend to be very simple and intuitive to operate, reducing the amount of time required to train an operative to use the machinery and minimising the risk of errors being made.

Cost-saving

Mini excavators are more affordable to purchase and operate than their larger counterparts. They also offer higher fuel efficiency and lower fuel costs. Their relative ease of operation means training operatives will cost your business less time and money. 

More environmentally-friendly

The small size and increased fuel efficiency make mini excavators more environmentally friendly to run than larger excavators. They also produce less noise pollution, making them ideal for use in noise and pollution sensitive areas.

If you require help or advice with financing a mini excavator for your business, speak to our team here at Richmond Asset Finance. We provide a range of flexible vehicle finance and asset finance services to help you to grow your business. To discuss your requirements in more detail, give our team a call on 0113 288 3277.

Guide To Start-up Loans

21st September 2018 / / Comments Off on Guide To Start-up Loans

What is a start-up loan? How does a start-up loan differ from a conventional loan if at all? Find out more in this short guide to start-up loans.

What Is A Start-Up Loan?
There are many different types of loans an load products on the market which can be used by start-up founders to fund their business. A start-up loan however is a traditional type of loan from a traditional lender however there are different types of loan available depending on the needs and financial position of the business. Start-up loans are not to be confused with other newer forms of loans such as crowd funding.

What are the various types of start-up loan?
One of the more popular types of loan for a startup is a line of credit. This essentially works in much the same way as a credit card. A set amount of money is available to the business owners to use when they need it. Agreements are often interest free to begin with but can come with a sting in the tail when this period is up and interest becomes chargeable.

Equipment financing is a type of loan that allows a business to purchase the equipment it needs to function with the loan used as collateral. This type of loan is usually available at a lower interest rate than many alternative types of loans. The purchase can then be paid off as the business hopefully gorws and starts generating income. The depreciation of equipment can also be offset against tax which is another benefit of this type of loan.

The great benefit of this loan is that rather than fronting the cost of equipment before your business opens, you are able to pay off the cost as your business grows and makes money.

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