The practical answer
Check the entire finance and collection process before bidding because short deadlines may be incompatible with outstanding checks.
Give the broker the auction date, lot details, payment cut-off, collection rules and daily storage charges. Confirm whether funding needs an invoice, inspection, title evidence or signed documents.
A credit approval alone may not mean funds are ready. If the timetable cannot be met, do not rely on the auctioneer extending it after you have placed a binding bid.
Commercial finance is subject to status, lender approval and the specific asset and transaction. The right structure depends on the complete circumstances of the business.
What should I do next?
Have the asset details, supplier information and an outline of what the business needs ready. DCF can then discuss the requirement and identify which lenders may be suitable.
Read: Auction asset finance →