Funding Technology

Using asset finance to fund technology

Mike Rixon, Relationship Manager for Lombard Technology Services, explains how asset finance can be the most flexible solution when financing fast evolving technology, and how Lombard Technology Services can help a wide range of business.

You can also read the audio description for this video below.

How flexible is asset finance when used to purchase technology equipment that is fast evolving?

Lombard can offer significant financial and operational benefits for our customers by effectively managing fast-evolving technology assets. In the case of Grant Thornton, Lombard has developed a fixed rate operating lease over a two year term that is suited to more specialist equipment. For the longer life equipment, we write three-year leases where any future resale value is reflected in the figures. This ensures the equipment is only rented for the actual useful life rather than paying for the full purchase price. This refresh cycle also removes any increased support costs that appear in the fourth or fifth year.

Isn’t Lombard in direct competition to suppliers who are able to offer customers' finance deals?

Lombard is vendor independent meaning that customers can choose from an array of suppliers and the customer is not locked into a technology lifecycle with one particular vendor while benefiting from Lombard’s purchasing strength. Lombard does not only offer financial products, we offer an array of technology solutions including CALM - our specially developed asset management tool, maintenance, flexible invoicing and as we are authorised resellers for some of the popular manufacturers. Our technology expertise and the solutions we can offer, mean we can provide our customers with a one stop shop for all of their IT needs.

Is Lombard only interested in commercial enterprises with six figure IT budgets?

Lombard is happy to do business with any business and have customers who have budgets between £50,000 and £100,000, as well as those with larger budgets.