Manta: Providers should shop around for financial products

Posted on July 1st, by editor in Caring Times. No Comments

Major financial institutions are increasingly compelling small to medium business owners in the care home sector to make unwanted and excessively costly decisions regarding their business’ future, according to corporate finance and leasing specialist Manta Finance. Manta managing director Stephen Haskew said many banks and other major financial institutions were insisting that existing clients purchase the bank’s or institution’s specialist services such as factoring, invoice discounting, sale and leaseback and other asset based finance products, in order to maintain a line of credit on their business. “Typically these services are far less competitive than those available by the independents in the market and therefore do not serve the business owners’ best interests,” said Mr Haskew. “This trend is particularly damaging for newer businesses in the sector which are typically run by smaller teams, often with less knowledge and experience of the possibilities available for commercial finance asid

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