Finance · 27 September 2017

JCB Finance pledges support for agriculture and construction firms

Earth Digger
Construction firms can sometimes struggle to obtain bank finance
The financing arm of the well-known machinery business JCB has pledged its support to small UK businesses in the agricultural and construction sectors that look to secure finance to pay for machinery and working capital.

JCB Finance is getting ready to launch new finance products and services for owners at UK agriculture and construction SMEs who find it difficult to secure bank finance.

In October, the finance provider has said it will launch its Online and Sign Online platform, which will enable the convenient and secure online signing of financing agreements with customers, without the need to print, scan or email important documents.

The platform will also allow JCB Finance customers to easily access their agreement details alongside related correspondence, and better manage their cash flow.

In a statement, the firm’s managing director, Paul Jennings, said: JCB Finance has always gone out of its way to support customers with asset finance, using hire purchase and leasing to help small businesses secure the resources they need, while protecting their working capital.

unlike big banks, who have in some cases withdrawn funding from small businesses when they need it most, we know the importance of providing customers with reassurance, and importantly tailoring our services to meet customers? needs.

The pledge comes after a JCB survey found that more than 25 per cent of agricultural and construction business owners, whod been given bank loans or overdrafts to purchase equipment, had not been given a thorough explanation of the potential risks involved when borrowing from the banks.


 
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ABOUT THE EXPERT

Fred Heritage was previously deputy editor at Business Advice. He has a BA in politics and international relations from the University of Kent and an MA in international conflict from Kings College London.

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