Finance for Education

Many educational establishments such as schools, colleges and universities make use of Asset Finance when it comes to investing in up to date and essential equipment.  It allows them to grow and provide a first class service to students.  As with any business or organisation, investing wisely is key if the organisation is to keep up with the latest technology and advances in what is an ever-changing marketplace.

So what is Asset Finance?

Asset Finance refers to any type of finance used by a school or business to enable them to obtain equipment when they need it without paying up front.  As far as ilicomm are concerned, we usually provide finance to assist with the purchase of IT equipment and software.  The great thing about this type of finance is that a huge lump sum does not need to be provided in advance; instead, the school or college receive the product immediately and then pay for it over a set period.  This avoids all of the problems that are incurred when attempting to buy expensive products outright.  We provide both leasing and hire purchase options to help with the purchase of IT equipment.

Why make use of Asset Finance?

Asset Finance brings with it many positive attributes.  Here are just a few of them:

  • Spread the cost – equipment can be replaced or upgraded immediately but the cost of doing so can be spread over a chosen period, usually from one year up to about seven years.
  • Costs are fixed – cash flow can be planned in advance without any worrying unknown variable costs. Schools can plan their monthly budget, knowing that payments will remain exactly the same until the end of the chosen period.  The rate of interest charged will not vary and business managers at the school can budget effectively.
  • Look after your cash reserves – IT equipment, like a lot of assets, quickly depreciates. Understandably, schools are loathe to tie up cash funds in items such as this as it then leaves them without any liquidity in their cash flow.  Asset Finance preserves cash funds in a practical and simple way.
  • Fast decisions – once an application is made for finance of this type, the decisions are made quickly; usually within 24 hrs. Delays are not incurred so business managers can go ahead quickly in order to meet deadlines and budget end periods.

As you can see, making use of Asset Finance services provided by ilicomm is fast, simple and cost effective.  It is a sure fire way of enabling your school or college to move forward and equip their IT department fully without any hold-ups or negative consequences.

Get in touch with us now to find out more about our Asset Finance deals and how they can work for your school.

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