By Phillip Bennett, CEO- Bluestone Leasing.
In a previous blog, we explained why our clients think Bluestone is different from other asset finance brokers and finance houses and some of the intangible ways in which our clients think we add value to their businesses. We do, however, also add value in a number of more tangible ways. Here are some of them.
All asset finance houses have different criteria for the type of asset or business they will fund. For example, some will only fund vehicles, some only plant and machinery, others only IT. Some will only fund established companies, others are happy to fund professions or start-up businesses, some will not look at poor credits while others will.
One role of a broker is to select the right finance house for the asset being purchased and for the business in question. However, it is very common for businesses to purchase many different types of asset as part of a project. Here a broker will very often need to put together a syndicate of finance houses to maximise funding for the client. If the broker does not have access to a sufficiently large panel of funders, the client will have find the rest of the money for the project themselves, go without certain assets or even reduce the project size.
Bluestone has a panel of 40 funders, the largest panel in the UK, and can therefore find a funder for every asset which is capable of being funded. Given that more than two thirds of these funders cannot be accessed directly by clients themselves, we provide access to funding lines otherwise beyond their reach. We can find funding for labour costs, such as fit out and installation costs, thus enabling us to maximise funding for a client, perhaps allowing a client to increase the size of their project. Bluestone’s credit team also “pre-underwrite” transactions, thus ensuring high acceptance rates -and an excellent reputation with finance houses.
Because Bluestone’s team has significant experience in large, complex and unconventional transactions, we are able to bring to bear in depth structuring, tax, VAT, accounting and legal expertise when appropriate, getting transactions across the line when others can’t.
All transactions are managed on “Touchstone”, Bluestone’s own proprietary management information software. This gives instant visibility on the progress of a proposal, enabling any member of the Bluestone team to deal with queries. What is more, most of the finance houses accept Bluestone’s own documentation meaning that clients are not faced with a host of different paperwork to approve.
Bluestone can really add value when acting for reseller partners. Through Bluestone’s unique sales aid programme, called “Attain”, partners, depending on the level of accreditation, gain access to a wide range of quotation, training and sales aid materials. Bluestone has long realised that the benefit of leasing lies not in the ability to close transactions when there is a cash or budgetary constraint but in increasing order values i.e. helping businesses to buy the assets they want when they want them.
Bluestone’s “1-Touch” mobile-enabled quotation app allows sales teams to generate an indicative quotation on their phone or mobile device, a great asset when talking to a customer about the possibility of paying over time.
For educational institutions, our Access Anytime solution is the leading solution for delivering 1-2-1 device schemes for pupils and students. Designed to operate on a cost neutral basis with parents buying into the scheme, the positive impact on learning, access in the home and broader social and community benefits is huge. Bluestone provide a 360 degree service from initial scheme design through to implementation and management.
Whatever the nature of your business, we would be delighted to talk to you about how we can add value for you.