The last couple of years have seen a lot of uncertainty and upheaval, with a variety of factors leaving forestry businesses wary of making large purchases. But could now be an ideal time to invest? Forestry Journal spoke to Jack Bithell of Bithell Asset Finance Solutions to ask his opinion and learn some more about his company.

WHAT IS BITHELL ASSET FINANCE SOLUTIONS?

We are a family-run business and we specialise in the forestry, firewood, arboricultural, construction, manufacturing and agricultural industries, among many other areas. We have customers all over the United Kingdom involved in various different sectors. I have worked in financial services for over 17 years and doing what we do is by far the most job satisfaction I have ever had. It’s really rewarding to watch our customers grow and succeed, which is what we are all about.

WHAT SERVICES DO YOU OFFER?

We are experienced at helping our customers grow their businesses in many ways. Some businesses want to purchase new or used equipment, plant or vehicles, while some are looking to expand or grow their business in other ways. We can arrange for the financing of these purchases with a customised solution to suit their business as a whole.

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We have assisted our customers with a wide array of scenarios, taking the strain and effort out of the purchase to provide a hassle-free experience. We can also arrange for a wide variety of other business funding, including invoice financing, re-financing and project loans, among others.

WHERE DO YOU OPERATE AND WHAT TYPE OF CUSTOMERS DO YOU SUPPORT?

We are based in Dumfries, Scotland and cover the whole of the UK. Our customers range from brand-new businesses to long-established SMEs. We have an extremely varied customer base and have thoroughly enjoyed helping many customers to grow their businesses over the years using asset finance.

WHAT STATE IS THE MACHINERY FINANCE MARKET IN?

I would say, from our own perspective and market experience, that applications for used machinery have increased based on previous years. That’s understandable, given the potentially longer lead times on new equipment, but we are also seeing growth in new machinery being financed as many businesses thrive regardless of the current situation. Overall, the marketplace seems to be in a position to meet the demands for financing placed upon it.

WHAT EFFECT HAS THE PANDEMIC HAD?

In the areas we specialise in, most have fortunately weathered or navigated the restrictions and measures to curb the pandemic very well. After some initial adjusting back in March last year, while everyone figured out what they could or could not do, people seem to have adapted well, meaning the demand we have seen for our services is keeping us as busy as ever.

WHAT CHALLENGES EXIST FOR THOSE SEEKING FINANCE?

There’s no doubt that it appears things can occasionally take a little longer at times as, over the last year, lenders have adjusted to home working and reduced office staff. However, across the board we have seen people and businesses strive and achieve to deliver normal service levels. We have found that we have been able to assist customers new and existing throughout the pandemic.

WHAT MAKES THIS A GOOD TIME TO INVEST IN NEW MACHINERY?

There were some increased capital allowances announced in the budget last month, known as ‘super deductions’.

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We have already had some businesses look to time purchases of new equipment to fit within the window of this scheme.

WHAT SETS BITHELL ASSET FINANCE SOLUTIONS APART?

As well as being a family-run business, we pride ourselves on providing a great customer experience and constantly work to enhance this. We adapt as new technologies become available, but also don’t lose touch with the more traditional ways of working either. We know our specialist areas well and have a network of lenders and customers we are proud to work with. We make ourselves available outwith typical working hours as well as within, which works well for our clients who are often out of signal or just too busy during the normal working day. We really work hard to come up with bespoke solutions for our customers that help them to achieve their ambitions.

Visit www.bafinancesolutions.com or get in touch at info@bafinancesolutions.com or by phoning 01387 259 678.

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