Flying start

Andrew Bullard, managing director of ETG Finance Solutions, enthused: “I'm delighted to say that nobody who came to us needing finance has gone away empty handed.

“We offer a very broad portfolio of financial products so we can provide tailored solutions for almost any scenario so despite what you read in the papers there are not the hurdles that people think there are in terms of access to the marketplace. We have been able to help everyone that came to us – including start-ups and companies that could not access traditional sources of finance.”

Mr Bullard says that, at the moment, the majority of machines are financed by hire purchase, as this lets companies cut their tax bill by writing off the cost of the machine against their profits up to a limit of £250,000. Other options include machine rental, traditional leasing options and operating leases that allow companies – often large OEMs – to keep the capital expenditure off their accounts.

ETG Finance Solutions doesn't just provide finance for machines, it can also help with cash flow. Products such as business loans and invoice financing provide customers with the cash to make sure they can run their machines and businesses profitably.

Building on its success, ETG Finance Solutions has now appointed Luke Ward as regional sales manager for the business. Mr Ward is 25 and has five years' experience in business finance with Hitachi, EFT Finance and County Asset Finance.

Mr Bullard commented: “We made this appointment because of the phenomenal growth of the business and our forecasts for new machine sales. It is a great time for Luke to be joining the Engineering Technology Group and he will help us enhance our national coverage. The Group is looking forward to an even better 2014 in terms of machine sales and we hope to double the amount of finance we provide to £16 million.”

Engineering Technology Group
www.engtechgroup.com