Innovative finance solution for security sector

April 2011 News

In line with its commitment to continuously provide innovative services, Norbain SA has partnered with Merchant West (a financial intermediary), to launch Norbain Finance, a rental finance company dedicated to the financing of CCTVs, surveillance equipment and allied products.

John Loftus, managing director of Norbain SA says: “The economic downturn of the past two years has had a significant impact on all industry sectors. After discussion with our customers and an evaluation of the local security equipment market, we felt that an initiative of this nature was vital to stimulate growth within the sector. This finance package will give our customers a competitive advantage, allowing them to keep up to date with latest technology we have to offer without it making a dent in their CAPEX budget. Furthermore, this gives our customers the opportunity to pursue bigger business without the worry of capital outlay which normally accompanies large deals.”

John Loftus
John Loftus

Loftus continues: “What makes this financing different from other solutions is that the services offered by the installer are included in the financing deal, allowing our installers to also experience the benefits of the offering. Additionally, capital can be reinvested into the core business and freed up for revenue generating activities instead of being tied up in depreciating assets”.

Norbain Finance benefits include:

* Norbain Finance provides Base Protection plans.

* Norbain Finance can incorporate maintenance plans for any deals.

* Easy upgrades through equipment schedules.

* Client gets quicker feedback on credit applications than with traditional financing options.

* Insurance can be included in the package.

* Clients do not pay deposits.

* Norbain Finance can structure financing payments to accommodate budgetary and cost constraints making it an affordable solution for a growing business.

Norbain SA customers have responded positively to the launch of Norbain Finance. According to one customer: “The Norbain Financing option will open a green field of new opportunities for us. It will allow us to grow into sectors that previously were not an option for us without worrying about the CAPEX required for larger deals.”



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