Providing SMEs with Flexibile replayment options in challenging times

Hitachi Capital Business Finance this week launches a new Smart Funding flexible payment plan to help thousands of small business owners secure growth funding without disrupting their cash flow. The flexible repayment plan will allow small businesses to create their own bespoke repayment schedule for finance that reflects their cash flow forecast and the seasonality of their business.

At a time when two thirds of small businesses (63%) report late payment issues from their customers – and when one in two enterprises (50%) is experiencing significant seasonal fluctuations in their growth forecasts – Hitachi Capital Business Finance recognises that many small businesses are trying to achieve growth in the face of unprecedented market uncertainty. The new flexible payment plan is the first of a series of new smart funding initiatives Hitachi Capital Business Finance will launch in the coming year to ensure that established SMEs looking to grow can count on greater agility, personalisation and flexibility from their finance partner.

The new flexible payment plan is available to sole traders and small businesses that have been trading for three or more years.

Key features:

  • Access to business funding up to £500,000
  • Typical APR 6.8%
  • Small businesses can create their own repayment schedule
  • Repayment term between 2-5 years
  • Quick finance decision online

There will be customer service support available to small businesses and a new range of Smart Funding business guides, all intended to help small businesses with their planning and budgeting. The new online calculator will also help finance applicants to work out the repayment schedule that best meets their needs and takes account of the highs and lows of their seasonal cashflow forecasts.

Gavin Wraith-Carter, Managing Director at Hitachi Capital Business Finance commentated: “We have been supporting small businesses for 35 years and we understand the rollercoaster of business life which, for many, has been exacerbated by the levels of economic uncertainty that have become the norm – and is something we all have to adjust to. That’s why at Hitachi Capital Business Finance we have adopted a new smart funding philosophy to our products and services. We recognise that no two business are the same and, in the current market climate, small business agility will be key to them seizing future growth, turning uncertainty into opportunity. The flexible payments plan is the first step by us in rolling out a new range of services that is designed to ensure that small businesses can get the support they need, when they need it – and in a shape and form that powers growth rather than inhibits it.”