Ignition Credit

Business & Personal Asset Finance in Cornwall

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Budget Boost for SMEs

4th March 2021 By Katy Baker

Cut your Tax bill by 25p for every £1 spent on plant and machinery

Plus extra support for green and renewable projects

Yesterday’s Budget announcement introduced a number of stepping-stones to assist recovery, restore fiscal strength and to build long term, sustainable economic capacity.  Key measures to help SMEs build their businesses include:

The Super Deduction:

  • A tax break for companies investing in new equipment
  • Tax bills cut by 25p for every £1 invested
  • Taxable profits reduced by 130% of the cost
  • In place for 2 years, starting April 2021

This is a huge incentive for any businesses looking to invest in new equipment over the next two years.

The UK Infrastructure Bank:

  • Investment in sectors such as renewable energy, carbon capture, storage and transportation
  • Low rate loans for companies looking to play a part in helping the UK reach its net-Zero carbon targets
  • Aim to attract £40bn of private investment into green projects

Ignition can help you take advantage of these initiatives to move your business forward.  We are on hand to assist with the funding of these investments to help your business grow. Contact us to find out more on 01872 272900.

    Filed Under: News

    Mentor help with HR and Health & Safety

    4th March 2021 By Katy Baker

    Running a business and managing employees is never easy, and it can be particularly tricky to keep up with the ever-changing rules and regulations on employment law, HR, health and safety and environmental management.  Most SMEs don’t have a dedicated HR department to devise systems and handle these issues.

    At Ignition, we can help businesses gain access to NatWest Mentor Services, which provide a range of tailored support to help SMEs successfully navigate these matters, providing you with the advice and legal protection your business needs to thrive.

    Mentor customers can benefit from a range of services including expert advice from the Mentor Advice Service phone line, face-to-face support from a consultant, a range of training courses for employees, and access to online portals providing templates for documentation and employee records.

    • Case Study – Mannamead Care

    Mannamead Care runs five care homes across Devon and accessed Mentor to help streamline its business by creating one set of employment systems and protocols. Mentor’s team of business advisers helped to develop a structure where all the homes and their 220 staff followed the same processes and used the same legally up-to-date company handbook.

    Philip Gerry comments:

    “We always had good staff but giving them autonomy, consistent procedures and a really clear direction helps to build a really solid happy team, and improves staff retention.”

    Daryll Hall, Mentor’s regional development manager for Devon and Cornwall, explains that Mentor helped the Mannamead team with a holistic approach to a number of issues:

    “As a subscriber to Mentor, Mannamead staff now all have access to e-courses for such topics as safeguarding, health and safety and diversity. And of course, perhaps most importantly on a day-to-day basis, we are always available on the end of a phone if Phil or his team need any advice.”

    For further information on the Mentor service, call us on 01872 272900.

    Filed Under: News

    Fabulous Ferrari

    18th February 2021 By Katy Baker

    Ignition recently assisted a long-standing private customer with £210,000 finance towards a fabulous Ferrari 488 Pista.  The prestige sports car enthusiast had been looking out for the special series V8 supercar, and on finding one at the right price, he approached Ignition to help arrange the funds.

    He comments:

    “The team at Ignition are highly experienced in funding speciality cars and have helped me to finance many over the years. I trust them to offer good interest rates, reasonable charging fees and to always provide me with fast and efficient service.

    “Despite lockdown restrictions, the service this time was as excellent as ever. My account manager was particularly accommodating. She ensured that the process was convenient and hassle-free, leaving me free to enjoy my beautiful new car!”

    Filed Under: Case Studies

    RC Construction Builds on CBILS Support

    12th February 2021 By Katy Baker

    Newquay-based building and scaffolding company, RC Construction SW Ltd, was formed in 2013, and has become a well-established business in the local area, providing a variety of building services from brick paving, to loft conversions to new home builds. With its own scaffolding division, the company also supports local roofers and a solar power company with their scaffolding needs.

    Although initially set back by the pandemic with some employees furloughed, RC Construction is now as busy as ever, working concurrently on two new build houses, as well as facing increased demand for its scaffolding services. 

    A long-standing customer of Ignition, Director Andrew Taylor contacted Ignition regarding finance for additional scaffolding equipment and also requested a business loan to ease the strain on cash flow when commencing new groundworks contracts.

    Ignition arranged a £25,000 Hire Purchase loan for new scaffolding equipment, through the Coronavirus Business Interruption Loan Scheme (CBILS) and was also able to provide a further £55,000 CBILS loan to assist with working capital.

    The CBILS scheme provides 80% Government guaranteed loans up to £500,000, and asset backed loans to £750,000 with 12 months interest free. These commercial loans and some asset finance packages also benefit from a 12 month payment holiday, helping to ease business cash flow.

    Andrew Taylor comments:

    “It’s always a difficult time at the outset of a new contract, when there are substantial outlays but funds can’t be drawn for around six to eight weeks.  The CBILS loan will help us get these new contracts off the ground and support the growth of the business going forward.  Likewise, the new scaffolding equipment is already in use, helping us to improve our service and meet the increase in customer demand.

    “Ignition have always provided us with really good service.  They respond quickly with workable solutions and minimal hassle.”

    Filed Under: Case Studies

    A Royal Drive

    7th December 2020 By Katy Baker

    Plymouth businessman, Roderick Blacker, recently contacted Ignition to help with the purchase of a stunning classic car with Royal connections.

    Mr Blacker had been looking out for an Aston Martin Vanquish supercar and was immediately taken with the pristine grey car with only 18,000 miles on the clock.  He was even more intrigued when he discovered it had been in service to the Royal Family for 13 years. 

    First registered as new to the Royal Privy Purse of Windsor Road in Ascot, Berkshire, in 2003, the car remained in the Royal household until 2016 when it was sold at auction to a private enthusiast.  It is one of the last Aston Martins to be fully hand-built in Newport Pagnell.

    Mr Blacker, who has used Ignition to help purchase assets and equipment for his self-storage and shipping container company over the last 20 years, knew that Ignition would be swift and efficient in organising finance for the Aston Martin.  Within a week of spotting the advertisement, the sale was completed, and he was in the driving seat.

    Roderick Blacker comments:

    “When I spotted the advert, I couldn’t pass up the opportunity to own such a special car! I have no way of knowing which member of the Royal Family might have driven in it, but apparently Prince Charles is very fond of Aston Martins and of course the Queen regularly visits Ascot for the horse racing.”

    “A car with this kind of history is not only a great investment, but also a joy to drive, and is certainly one of the best-looking cars ever made.”

    Eleanor Smith, Business Development Manager at Ignition, comments:

    “When arranging finance, we know that providing a quick and efficient service is paramount and can make all the difference to our customers. We were delighted to help Mr Blacker secure this beautiful car.”

    Filed Under: Case Studies

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    Can we help?

    If you require assistance or further information call one of our expert advisers on 01872 272900.

    You can also request a quote online, or use our simple vehicle finance calculator.

    Finance Products & Services

    • Asset Refinance
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    • Structured Payments
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    • Loan and Chattel Mortgage

    Our Products & Services

    • Asset Refinance
    • Finance Lease
    • Hire Agreement
    • Structured Payments
    • PCP (Personal Contract Purchase)
    • Hire/Lease Purchase
    • Contract Hire
    • Operating Lease
    • VAT Deferrals
    • Corporation Tax Loans
    • Invoice Finance
    • Commercial Loans
    • Loan and Chattel Mortgage

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    What We Finance

    • Car Finance
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    About Ignition Credit

    Registered Office
    Sterling House,
    Green Court,
    Truro Business Park,
    Threemilestone,
    Cornwall,
    TR4 9LF

    Phone
    01872 272900

    Office Hours
    Monday—Friday: 9:00AM–5:15PM

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    Copyright © 2021 Ignition Credit. All Rights Reserved
    E&OE Company Registration Number: 4315993 | VAT Registration Number: 864 5933 85 | Authorised and regulated by the Financial Conduct Authority FRN 679018 Registered Office:- Sterling House, Green Court, Truro Business Park, Threemilestone, Truro, Cornwall, TR4 9LF

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