Here at Johnson Reed we have an ideal that we live by: Common Sense Underwriting.
What does that mean? It means that we deal with all of our requests for finance with a common-sense approach when it comes to whether or not we provide finance to a would-be customer.
As part of this approach, we appreciate that often we get requests for finance for equipment and assets which are beyond the traditional scope of lending. Sure, we get a lot of gym equipment, catering equipment, kitchen refurbishments, that kind of thing, but we also get a lot of unusual things.
So what do we do when we get these types of requests? If we stuck with financing just traditional forms of equipment (like many high street banks do!), then we’d have been saying no to a lot of business over the years.
Instead we came up with a new approach to dealing with these types of non-standard requests: Quirky Kit Finance.
Quirky Kit Finance is the name of our policy of never saying no to requests based on the equipment alone – we will always help provide the finance no matter what the equipment required – we only judge a deal based on the business and terms of the deal. Beyond that, Quirky Kit Finance is a promise to keep an open mind and treat every request for finance on an equal footing, regardless of what you require finance for.
Just to give you an idea of the somewhat unusual things we supply, here are 5 examples of deals we are working on this very week…
- One of our more interesting deals, we have been asked to provide finance for a fleet of 12 brand new go-karts, a Formula 1 motor sport simulator, and cutting-edge technology media entertainment system for an indoor sport centre refurbishment;
- We have been asked to provide £100,000 for IT hardware/software, and an office furniture expansion for a private adult training college;
- We have also been asked to help provide £25,000 worth of state-of-the-art gym equipment for a private tenant gym in a Manchester-based serviced block of flats;
- From the catering sector, we have been asked to provide £60,000 worth of restaurant and catering equipment finance, which includes furniture, EPOS machines, security systems, and a sound system (everything but the food!);
- A racking and shelving system for an automotive wholesale parts supplier worth £20,000;
- An expansion of a self-storage system for an existing customer worth over £150,000.
All in a week’s work here at Johnson Reed.
