In line with its commitment to continuously provide innovative, ground-breaking services, Norbain SA (South Africa’s leading distributor of CCTV, access control and security systems), has partnered with Merchant West (a highly-regarded and well established financial intermediary), to launch Norbain Finance, a rental finance company dedicated to the financing of CCTVs, surveillance equipment and allied products.
The dynamic partnership brings together two established industry leaders to launch this unique finance product to Norbain customers. This is expected to bring huge opportunities to grow and expand their businesses, despite economic conditions that are still not back to what they were two years ago.
John Loftus, MD 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.”
“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 this new 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,” continues Loftus.
Norbain Finance benefits include:
* Norbain Finance provide Base Protection plans.
* Maintenance plans can be incorporated 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 extremely 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.”
The partnership between Norbain and Merchant West shows, once again, that Norbain consistently looks for innovative ways in which to enrich its customer and installer experience.