How has 2016 started for you?
We have experienced a busy start to 2016 with lots of activity but to be honest we are not sure what we are achieving. For certain we will find out over the next few months. Many of our recent deals have been larger projects and it seems delivery and installation on most of these jobs ends up being put further back – by several months.
We have seen several larger deals which have started with one equipment type eg racking and mezzanine floors and these deals have expanded with the customer’s choosing to include other cap ex such as LED lighting, office furniture, partitioning, IT, light commercials and even cabling.
This goes to show that customers spending money have budgets which need finance to make the whole project work and for delivery in one hit rather than several stages.
It does seem that the major banks are back in town and in some cases even lending again but sporadically. Banks have always been fair weather lenders and have short memories. In our view best used for commercial mortgages, working capital and overdraft facilities and definiteley not to be relied upon for medium term asset finance.