Asset finance division launches

Cartwright Finance MD John Egerton commented that the company’s new dedicated finance arm is the latest ‘piece of the jigsaw’ in the group’s development, creating a competitive edge for the organisation which has recently announced another record year in turnover and volume.

He explained: “The continued expansion of the company and its unique ability to look after the customer for the whole life cycle of the product, from manufacture to disposal, has led to the launch of a dedicated asset finance arm that can offer customers a holistic, consultative approach.

“Ultimately our USP is total flexibility. Our basic DNA is manufacturing but of course Cartwright offers much more and we can provide a ‘joined up’ service for any customer consulting with them personally about their funding aspirations and agreeing a finance solution.

“We are best placed to source and provide the most competitive finance facilities for all Cartwright products and services, based upon the principle of understanding the customer’s business, listening to their specific requirements and delivering the best available solution.

“Unlike many other manufacturers we are not locked in to any particular bank or finance house on an exclusive basis. We have strong and established relationships with our funding panel who we work closely with, so we can match any requirement, whether a customer is looking to own or lease the asset through a hire purchase or lease facility.

“Furthermore, Cartwright Finance can arrange funding for used business assets on structured agreements matched to the clients’ requirements.”

John Egerton, who has over 25 years’ experience in the transport, rental and leasing sector, stressed that Cartwright’s panel of funding partners not only have an appetite for Cartwright’s business, but also its customers asset finance requirements irrespective of the scale of business or opportunity. The ability to match the right funder and right product with the right customer is a compelling reason for our customers to use Cartwright Finance.

John Egerton stressed the diversity of the Cartwright Finance offer.  “We have arranged finance for many of our clients on a broad spectrum of assets including a warehouse racking system project, forklift trucks, used and new tractor units, industrial floor cleaning equipment, software licences, hand held proof of delivery devices and light commercial vehicles.

“We are also able to raise working capital for our clients by structuring a refinance facility for assets that the client owns. This method of finance can be more cost effective and less onerous than a business loan or overdraft.”

Another advantage, he said, is that Cartwright Finance has its own in-house lease documentation. This allows us to tailor each individual transaction to match the specific requirements of our clients.

Flexibility

“Furthermore, we are also able to offer a degree of flexibility in our approach towards the processes at the end of a lease whereas a bank or finance house may not be as flexible.”

He continued: “We have the flexibility to extend the lease formally or informally, to replace the trailer or upgrade to an alternative specification.

“We don’t look at the expiry date as a terminal date (fixed) because we are all about working with the customer and managing those end of life assets as a true asset management business should.

“I also believe we are the only trailer manufacturer backed finance intermediary service that engages with the customer during the whole process through deciding who to order their trailers from and how they structure the finance in making the decision easier for the client. 

Cartwright Finance is proactive with its customers, says John Egerton, discussing their potential requirements, whether that be manufacturing, maintenance, finance and after sales.  We want to understand all aspects of the customers requirement and product or service life cycle.

“We deal with each funding case personally, confidentially and efficiently with completion in the required timescales.”

Financial Conduct Authority

Cartwright Finance is regulated by the Financial Conduct Authority. This is a very important milestone in the development of the business and demonstrates the commitment of the group to ensuring that their customers receive the highest level of service and assurance that they are in ‘good hands’.

“It is ultimately finance but not as you know it. We have the flexibility and experience to meet virtually any requirement a customer presents to us. It’s not just about finance for trailers either; we are equally comfortable with a customer’s future aspirations in terms of asset finance for wheeled or non-wheeled assets.”

John Egerton added: “The timing of the launch of Cartwright Finance is strategically the latest piece of the Cartwright jigsaw in line with the company’s continued growth. Our customers new, old as well as existing will be the ultimate beneficiaries.

“To date, over the last 12 months Cartwright Finance has arranged finance facilities for approximately £19 million of capital value.

“Our objective is to establish Cartwright Finance as our customers preferred business partner for asset finance for all Cartwright core products and other essential business assets.”