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If it appreciates
…buy it,

If it depreciates
…lease it!

~ J. Paul Getty

Welcome to 2013

The Personal Property Securities Register (PPSR) came into effect on 30th January 2012 at which time all existing finance contracts for equipment, fit outs and motor vehicles were “dumped” on to the register. The migration was generally poorly handled and resulted in numerous anomalous or incorrect registrations. On behalf of our clients we are working through these in conjunction with the banks and financial institutions.

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One of the important roles of Enterprise Finance is to negotiate credit approvals with banks and financial institutions, a function we perform all day, every day, on behalf of our clients. We, and other professional broking houses, find this is a challenging task as we run the gauntlet of mysterious and ever-changing policies, requests for illogical terms and conditions and whimsical excuses for not wanting to accept sound credit proposals.

The GFC sent the banking industry into a spin but we hoped that after two or three years the situation would have reverted to pre-GFC days. Whist there has been some improvement; there is still a way to go before we return to pre-GFC conditions.

We often spare a thought for those intrepid souls who attempt to handle these matters on their own behalf.

On a positive note several funders have entered the “asset” finance market during 2012. Some of these were active in the market prior to the GFC while others are new players. These funders are most welcome as they have boosted the depleted market which emerged from the disasters of the GFC.

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No great idea ever emerged from the second bottle of water! 

 

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