Ceasing regulated finance introductions

Over the past few years we have transacted very little business with regulated customers. This has meant the growing administrative burden required to maintain FCA Authorisation is not justifiable.

We have today taken the decision to cancel our authorisation meaning we can no longer work with regulated customers.

Prolease Ltd will maintain the same standards and integrity in dealing with all our Limited company customers.

Any regulated customers that have worked with us in the past will be able to contact lenders directly for information regarding their existing finance agreements.

COVID 19 – our lenders approach

Any requests for financial assistance need to be accompanied with the information below. We are being advised lenders are sympathetic but as they likely to be inundated with requests the quality and presentation of the information below will be helpful.
• Have they approached their bank and what have they said about being supportive? This is key, if the bank are supporting cash flow then we are more inclined to support.
• They need to have never missed a payment – once in arrears we will not consider a payment holiday.
• What is the rational – eg parts/orders suspended from Europe/China etc.
• What level of impact does this cause to their business? Can you quantify?
• Do they have a plan on how they are going to keep the business trading? Cash flow forecasts?
• We would look at reduced payments rather than NIL, as that keeps us in touch with the customer
• What period of time are they looking for? Consider 3 mths max presently.
• Update MI/Bank Statements/cashflows
• Email their request with the reference ‘COVID19’ this helps these particular requests stand out

Christmas Party – on a boat – How fab is that?

We had a fab weekend in Lymington Yacht Haven staying on The Italian Job

Lots of laughs, bubbles and even ponies

GDPR – May 25th looming


Amidst the scramble to be compliant, which is hitting just about every business and organisation in the UK someone has actually found the time to research how they believe consumers will react once the legislation is implemented.

Here is a summary – there is a link to the full report at the bottom – you can work out the perecentages quoted don’t even add up.

A new study, commissioned by Veritas and conducted by 3GEM, surveyed 3,000 adults, including 1,000 in the UK. It reveals that consumers are most likely to target the following industries with personal data requests:

•Financial services companies, including banks and insurance companies (56 pct)

•Social media companies (48 pct)

•Retailers (46 pct)

•Former, current or potential employers (24 pct)

•Healthcare providers (21 pct)


The forthcoming GDPR will impact any organisation that gathers, processes or stores the personal data of individuals in the EU. The research shows UK consumers welcome their enhanced privileges. Of those that intend to exercise their rights, two-thirds (65 pct) plan to request access to the personal data a company holds on them, while the majority (71 pct) intend to exercise their right to be forgotten under the new regulations.

If you can face reading more then the full report is available here

Good luck with your GDPR plans – we are using www.simplybiz.co.uk to assist us.

What business items to use asset finance for

Asset finance allows companies of all types and sizes to spread the cost of the items they require to conduct their business and turn a profit. There are so many different businesses though, it can be confusing as to what actually counts as a business asset. Thankfully, it’s pretty simple as we explain below.

What Assets a Business Can Acquire Using Asset Finance

The assets themselves can be pretty much anything of value that the company uses to conduct their business. These can include large and expensive items such as vehicles like transit vans or forklift trucks. They can also include pallet racking, shelving and mezzanine flooring in a warehouse and all kinds of office and IT equipment.

Additionally, restaurants or other kinds of catering businesses may require special ovens or refrigerators to store food items, while an online retailer might require a set of computers and specialised packing equipment.

All of these items are types of business assets which can be acquired through asset finance. The asset finance options available might differ according to the asset’s depreciation value, but there will be various options for most business assets.

Refinancing with Secured Assets

One asset financing option that many businesses opt for is refinancing, where assets such as those mentioned above which are already owned by the business are used to secure asset finance. One example would be that of a haulage firm securing a refinancing deal against its fleet of vehicles. The refinance could then be used to expand the business.

Such an option provides access to capital that otherwise isn’t available for many companies.

Using Asset Finance to Acquire Assets

There are several options open to different types of business, enabling them to acquire the assets they need to turn a profit. Hire Purchase and Lease Finance are popular choices which allow a business to spread out payments over time. Once the payments are complete, the business will own the asset outright or will often be able to aquire via Prolease.

If you would like to learn more about how your company could use asset finance to acquire important business assets, contact Prolease Finance and our friendly personal team who can help you decide which option is better for your business.


Demand for asset finance is on the rise as investment for growth remains a leading priority for businesses

Investing in your business for growth using  asset finance makes it a much easier to achieve your ambitions. A lot of companies are using asset finance as the means to purchase a variety of essential business assets which in turn helps to preserve working capital as well as enable the business to expand.

Conventional Loans on the Decrease

Just five years ago, a study by Asset Based Finance Association (ABFA) revealed that conventional loan activity among smaller UK based businesses had declined significantly compared to the increase in businesses using asset finance instead. The increase in asset finance usage is a trend that has continued to this year and doesn’t look like changing any time soon. This is in part due to the difficulty smaller businesses face when trying to acquire bank loans and unsecured finance.

Small businesses are usually the type of firms that require financing due to capital shortages, which is why asset finance providers such as Prolease have been able to help so many small and expanding businesses.

Asset Finance Helping Small Businesses to Grow

The other significant element of the decline in conventional financing is the improvement in the asset finance options available to all kinds of businesses. There are now a wide variety of options available through asset finance specialists like Prolease Finance, through whom businesses of all types and sizes can find the funding they need to acquire their crucial business assets.

Asset finance is growing so popular simply because it enables smaller businesses to invest their funds directly into their own operations without depleting their company’s capital or acquiring significant debts.

It is even good news for the lenders, as asset finance allows them to provide loans with a much lower risk of default. With the variety of options available, such as hire purchase and lease finance (to name but two), both businesses and lenders are able to help each other keep expanding their operations and increase profits, which is what business is ultimately all about.

If you would like to learn more about how your company could use asset finance to acquire important business assets, contact Prolease Finance and our friendly personal team who can help you decide which option is better for your business.


How Prolease can provide you with the finance you need

Owning and operating a garage is one of those businesses that will always require significant running costs due to the specialist equipment that is required. Every piece of machinery is an investment, and many of those investments are absolutely necessary in order to run the garage in the first place.

So how can a garage owner ensure they always have enough working equipment to keep the business operational? The key is asset finance.

The garage equipment finance package offered by Prolease is specifically tailored to the garage business, with the payment options available allowing garage owners to upgrade or acquire new equipment as and when necessary to meet customer demand and continue growing the business.

How to Ease the Financial Burden

By acquiring new equipment using a Lease Finance contract, you can pay for the necessary investment gradually in smaller and much more manageable chunks. Spreading the cost out over a period of time allows the business to keep on top of the game, perhaps even expand, without taking the blow of a massive cash expenditure all in one go.

Once installed and operational, the new equipment will begin generating increased profits which will ultimately pay for the new machinery itself. Consider the increase in profits that an extra MOT lane will bring in, or the increase in performance that a new handheld diagnostic tool will produce. The increase in revenue should more than cover the payments for the new equipment, meaning the business can continue expanding without any extra significantly noticeable outgoings (aside from the usual operational costs of running the business).

Prolease Provide Investment Opportunities

Due to the large number of sole traders and partnerships in this sector, garage equipment finance deals are usually of the Lease Finance variety. This means that the garage equipment finance deals offered by asset finance specialists Prolease will be secured on the asset itself.

Prolease also operates in conjunction with a variety of different leasing sources and banks, which makes multiple lines of credit available to your business. Another benefit of this is that the asset finance deals your garage business can make with Prolease will not affect any of your other banking facilities such as overdrafts or loans, which is especially important if you use these for working capital.

Additional Benefits of Garage Equipment Finance

By taking advantage of the extensive leasing and funding sources made available by Prolease, your garage can acquire many different types of equipment whenever necessary. Whether your business is just starting out or you are looking to expand or meet a spike in demand, there are finance deals which can help you.

At the very least, upgrading to the latest technology will enable your business to remain on terms with competitors, if not steal a march on them. The fixed payments attributed to lease agreements will also remain unaffected by any changes in interest rates, which is not the case with standard bank loans. There are also certain tax advantages to be gained by using asset finance.

If you would like to learn more about the benefits of garage equipment finance, contact Prolease Finance and discuss your business needs with our friendly and personal team of asset finance experts.


Realising the needs of your business and financial requirements is key to asset finance

If your business requires special machinery then decisions will have to made regarding how to finance such expensive outgoings. One of the main options which makes such large purchases easier to manage is asset finance. Knowing exactly what you want to achieve from the transaction is the key to getting the best out of any asset finance deal.

There are multiple options which will suit a variety of circumstances, so identifying the ideal choice for your business is obviously the first step to take.

Long Term Leases and Eventual Ownership

If your business is seeking to use asset finance to enter a long-term agreement, then a Finance Lease will be ideal as this enables you to rent the asset over a long period of time.

Finance Leases are popular because they come with certain tax and cashflow benefits, such as requiring the VAT to be paid on the rental payments rather than the purchase price.

If such a deal sounds appealing, but you would like to explore the possibility of eventually owning the asset, then you can agree to a Hire/Lease Purchase instead which will enable you to keep the asset at the end of the agreed term. This is an excellent purchasing option as it breaks the cost down into much more manageable chunks and spreads them out over time. The flexible repayment options also mean you can structure the payments around your company’s cash flow.

A similar option is the Contract Purchase, which is similar to the Hire/Lease Purchase but includes the option to choose not to own the asset at the end of the agreement (potentially ideal for assets that massively depreciate in value).

Finally, the Sale and Leaseback option provides your business with the ability to access cash that would otherwise be tied up in the purchase of an asset.

If you would like to learn more about asset finance, contact Prolease Finance and our friendly personal team can help you decide which option is better for your business.

Caplor Energy



Caplor Energy is our most recent IAR (Introducer Appointed Representative – see earlier news items)

Caplor Energy are local to us in Herefordshire and have been industry leaders in the renewable sector.

Many of our customers are now wanting a greener image and are conscious of their carbon footprint.

Feed In Tariff and Renewable Heat Incentive have long been a business driver in this market place but as the incentives have reduced then business viability is more relevant than ever.

For your energy requirements please contact www.caplor.co.uk and speak to:

Mel Preedy Tel 01432 860644 and email mel.p@caplor.co.uk

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