There are several benefits to fit out leasing and finance, many of which can be seen immediately by your business. Here at Fitout Finance, we hope to help you with your finance needs. If you have any queries about finance, all the advice we offer you is free, so please don’t hesitate to get in touch. Read on if you would like 5 advantages of fit out finance.
Significant tax benefits
There are significant tax benefits when entering into a lease agreement. This includes the rental agreement being 100% deductible (against your corporation tax bill). All the payments you make whilst your fit out project is being completed can again be written off against your company’s tax bill.
Flexible rental terms
We can offer finance agreements that have a term between 1 and 5 years. This means the agreement can be tailored to you and you can choose what works best. We always want you to feel like you have a wide range of choices and flexibility is so important. It depends on the timings of your other payments as well as if you wish to spread the cost over a shorter or longer amount of time.
Pay for the project instantly
Sometimes you may not have the cash to pay for the project upfront. It therefore leaves little room for other projects. However, with leasing you can pay for both. The time you now must pay it off is a lot longer, when your cash flow is steadier. It’s the most efficient way to pay for your fit out project. It’s a bit like a salary. If you don’t pay your employees upfront, why should do the same for a large project?
Preserve existing lines of credit
With leasing you can use alternative lines of funding. Instead of using up a bank facility (maybe even one that you have used previously) you can explore other options. This keeps your choices more open and means you don’t have to use a bank as the main or only source of funding. This is especially good when applying for loans etc.
Budget easier
Last but not least, leasing goes hand in hand with budgeting. Obviously, for any business to succeed, you must have control of the business’ finances. Budgeting is one of the easiest ways to do this. Your lease agreement is paid back in fixed monthly payments over your agreed term. This means you know exactly how much is coming out of your bank account and when. This also means there will be no hidden payments or surprises along the way! It also makes it quick and easy to pay, with no hassle from your end at all. Large payments can also put you off bigger projects. However, with smaller payments you can budget and make room for that project you have been wanting to complete!
Contact Us
If you would like more information on the 5 advantages of fit out finance, then head over to our contact page on our website to speak to a member of our team. Furthermore, if you would like to talk to us over the phone then please call 01494 506 385 or email hello@fitout.finance. You can also see more over on our LinkedIn page.
