In this article, you meet one of the niche lenders in business finance, Arkle Finance, who specialise in asset & equipment finance. Asset finance is a really effective product for small businesses so learn more about what your business can expect and how to tell if you’re eligible for the funding.
We caught up with Daniel Bailey, Associate Director, to find out more.
1. Tell us a bit about the history of Arkle and how it stands out from the crowd
Arkle started life in 2002 (then known as Weatherbys Finance Ltd) with the aim to provide asset finance facilities for UK business seeking to finance the acquisition of business equipment. It changed name in July 2009 (to Arkle Finance Ltd, and is also referred to as “afl”) and has evolved to become a provider of a range of asset finance facilitates, some of which are specialist, to a wide range of clients.
2. What areas does Arkle specialise in financing (in terms of types of equipment)
Arkle has a multiple divisions but the noteworthy areas are the Consumer Finance division which uses the trading style “Evington”, the Education Asset Finance Division and the Energy Equipment finance division.
The Consumer Finance division specialises in providing asset finance facilities for, Motorhomes, Classic Cars, Narrow Boats, Cruisers and other leisure related purchases by private individuals.
The Education division provides suitable facilities for schools seeking funding for a wide range of assets. Finally. The Renewable Division supports the funding of PV Solar Panels, Biofuel Boilers, Wind Turbines and energy efficient products such as HPV LED lighting.
3. What sorts of businesses does Arkle love to lend to (such as industries/sectors etc)?
Arkle recognises that well managed businesses operate in a diverse range of sectors. What we aim to do is seek to lend responsibly and offer products that best suit a client’s specific circumstances.
4. What’s one of the strangest businesses that you’ve lent to, and can you tell us how you did it?
We have provided asset finance facilities to a wide range of clients, including high street retailers and container shipping companies.
5. What are your views on the burgeoning alternative finance market, and how Arkle fits in that marketplace?
The alternative finance market often encompasses a wide range of areas of finance and I suspect that many of those operating within those industries would consider their offering to to be relatively mainstream. We do recognise that the way transacted has the potential to change significantly over the next 5-10 years. As an example the emergence of the electronic signature as a solution is relatively new to asset finance and Arkle has been one of the first finance companies to adopt it.
6. What would be your message to any business looking to apply for finance?
Simply, once you have found a suitable asset finance broker or finance house be as open as possible and try to provide them with your broad requirement not your expected finance solution. This means allowing time and providing all relevant information to help understand your business and needs. The good firms will then have a good chance of putting together the most appropriate solution.
Thanks to Daniel at Arkle Finance for taking the time to answer our questions!
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