Cloud hosting specialist EveryCity relies heavily on its servers. In order to service high-profile clients that include Audioboo, Secret Escapes and Tesco, it needs to have up to date, reliable equipment.
When it needed to replace a number of its servers EveryCity was faced with the prospect of a major capital expenditure commitment.
The company’s hardware supplier referred it to IQ Finance who were able to put together a leasing deal. Financing products and services in this way prevents businesses from having to tie up cash in depreciating IT assets. It also releases cash flow, thereby helping the day-to-day operation of the business.
Alasdair Lumsden, EveryCity’s founder says, “The team really went out of their way to accommodate our needs and it was refreshing to work with a finance company who chased us to keep the project moving, rather than us chasing them.”
All too often for startup or young businesses, raising finance from traditional sources such as the banks can be a challenge. Specialists like IQ Finance are able to take a rather more flexible approach. We have a great deal of experience in the leasing needs of IT and cloud technology companies and we will perform an individualised risk assessment based upon the profitability of the business and its track record.
With a leasing deal, businesses such as EveryCity are able to purchase all of their equipment requirements at once. With more traditional approaches, they may be forced to place smaller orders for hardware over a longer period of time. This is not only an inconvenience, but it can also put a brake on the expansion plans of the company and may mean they risk losing out on signing up new customers.
Why choose IQ?
Founded in 2002 by James Noonan and Robert Walsh-Smith, who between them have over 40 years’ experience in financing IT, IQ Finance has an expert team and is able to put together tailored deals to help businesses unlock the full potential of their IT investments.
Finance isn’t restricted to major hardware items such as servers. It can also include storage devices, software (including operating systems and business applications), together with support and maintenance agreements. It can also cover infrastructure investments such as air conditioning, security systems, power supplies, cabling, racking and even building works needed to set up a data centre. Networking and connectivity can be financed too, covering cabling, switches and firewalls, for example, in addition to providing fast, fibre internet connections.
IQ Finance has the backing of 10 banks, so you can be confident in our ability to deliver. We have one of the highest acceptance rates in the industry and have a strong track record of successfully backing businesses in the cloud industry.
If you need to finance a major IT upgrade, then it’s worth looking at what IQ Finance can do for your company. Why not try our iQuote system which lets you get an instant idea as to how leasing can help your business? You may find that we can accelerate your expansion plans as we have for EveryCity.