There are over five million SME companies in the UK. The backbone of our economy, they employ some sixteen million people, bring regional stability and ensure that the UK thrives in an increasingly fierce global economy. We want our SME business people to do what they do best; developing great products and services for domestic and international markets.
So what's the problem?
Unfortunately, when growing, many SME businesses are forced to run the gauntlet of finance providers as they incur excessive costs, uncertainty and time wasting. Over £40billion of business critical equipment and machinery is acquired every year but too often the equipment finance comes with hidden fees, excessive interest rates and unnecessary complexity. Furthermore, redundant technology and too many middlemen leads to processing times sometimes as long as two weeks.
EquipmentConnect will be a full technology solution that opens up and modernises equipment finance. Development commenced in early 2017 and when launched later this year the platform will connect SME companies seeking to finance new equipment with investors attracted by low-risk, enhanced returns on funding ring-fenced, business-critical assets.
However EquipmentConnect technology will offer more than just a match making service for funding. The development will feature advanced data collection, analysis and storage functionality. This will improve the entire borrower/lessee experience, provide stakeholders with greater control over key data and contribute to better management of equipment over it's life cycle.
Below please read more about the different aspects of the EquipmentConnect platform.
The emergence of EquipmentConnect is rooted in the crystallisation of London's fintech (financial technology) scene. In the last five years the application of technology to financial services has made a greater impact than in the twenty years previous. Customer experiences and investor access have improved measurably because of the introduction of empowering technology. Read more here about our tech here:
Equipment Finance or Asset Finance is the financing of business equipment, plant and machinery. This should not be confused with Asset Backed Lending which is borrowing money using existing assets as collateral.
gIn this section we will discuss why equipment finance is important and the different forms it can take. Read more here:
Funding equipment as an investment class falls within the much larger universe of secured credit. In this section we analyse the sector from an investors point of view comparing equipment finance to other asset class. Funding equipment and machinery offers relatively predictable returns over a short to medium term horizon of 2 to 5 years. Straight line amortisation, overcollateralisation and multiple levels of credit enhancement all combine to offer a strong case for investment. Read more here:
A combination of finance professionals with business development experience at investment banks, risk consultancy and leasing experience with technology experts who have designed and developed financial platforms. All are based in London, the crossing points of Financial technology and Alternative Credit. Read more here: