We know that manufacturers, particularly those in the automotive sector, may need financial support through periods of product innovation, when they need new tooling necessary for production.
We could help. We recognise that funding your business to buy tooling can be essential for growth.
When suppliers win contracts, we understand it can be difficult to pay for new equipment. The tooling will ultimately be owned by the Original Equipment Manufacturer (OEM), and supply chain companies are only paid for the tooling by manufacturers once they start producing the components.
This can create a situation that risks sending tooling work abroad to countries where finance may be more easily obtainable. As the automotive sector becomes more successful, with increased volumes and models, this pressure only gets worse.
At Santander, we see tooling funding as a key part of delivering the cash flow requirements your business needs.
All lending is subject to status and lending criteria. The right to decline any application is reserved.
Any property used as security, which may include your home, may be repossessed if you do not keep up your loan repayments.