As the economic ramifications of the Covid-19 lockdown continue to threaten businesses globally HP Financial Services (HPFS) have announced a series of asset financing options that could benefit creative studios throughout the media and entertainment industry.
Designed to enable creative companies to continue technology planning and investment through the current crisis, HPFS’ initiatives include such flexible options as payment deferrals, asset monetisation and a 2020 payment relief package.
HPFS’ 2020 payment relief scheme, known as a ‘step lease’ enables businesses to compress their payments to just 1% interest for the remainder of 2020, instead of the usual 3-5% APR. The goal is, of course, to alleviate some of the strain felt during the pandemic, aid cash flow and keep the economy as buoyant as possible. In post-production, visualisation and VFX taking advantage of these financial tools can enable creative companies to steer through a challenging period and keep technology-dependent projects on course.
How it works
You buy the equipment you need as normal and ask us to set up payment via HPFS’ step lease system. Your payments and interest are reduced for the first eight months of a 36 month payment agreement, where you pay 1% of the total value each month. The remaining cost is deferred to 2021.
What’s particularly useful here is that you can use HPFS to purchase technology from any supplier – not just HP.
At Escape Technology, we’re also able to offer rentals and short term loans to help take the sting out of the current crisis. If your business is feeling some financial challenges but you still need to invest in hardware and software, contact us and we’ll be happy to talk you through your options.
For the full range of HP financial intiatives download the PDF.
All financial offers described above are subject to a customer credit check by HPFS.