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Meta Title: The 4 Best Types of Asset Finance to Grow a Business

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Meta Description: Business growth requires the right financial security measures to ensure you have additional funds to run your business. This blog will learn about the five (5) Best Asset Finance to grow your business.

The best type of asset finance to grow your business

Running a business can be stressful, hectic, and exciting all simultaneously; however, businesses need to remain in control of their finances throughout the growth process. At times like these, when you’re stuck finding the best type of asset finance to grow your business, four avenues might help.

Equipment Lease

Asset finance is an option that can help you grow your small business. Equipment leasing is a type of financing typically used when the business needs to acquire certain types of equipment. The asset is leased to the company for a certain amount of time, and it can be returned or sold back to the leasing company at any time. Equipment leasing helps businesses expand their equipment to meet customer needs.

Operating Lease

An Operating Lease is a short-term agreement between the lessee, who leases their property to the other party, the lessor. The lessor agrees to rent or lease the asset for a specified period. The difference between an operating lease and a capital lease is that in the latter, the lessor’s asset becomes theirs when they have paid off their loan. The lessor will arrange the lease through a bank, which usually requires that the lessee be someone they would like to do business with. This type of lease is most common with office buildings, hotels, and shopping centres.

Finance Lease

A finance lease is a type of contract between two parties. The lessee (owner) receives the use of an asset for a specified period, while the lessor (finance company) retains ownership of the asset. The lessee’s obligation to purchase the asset at some point during this period is often called the “renewal option.” If not exercised, the option automatically expires.

The finance lease agreement should include a term that specifies how the interest rate will be determined. The lease should also contain a provision that allows either party to cancel the contract for breach of contract. The finance lease agreement should also include standard provisions that specify how the payments will be made. The finance lease should also specify how payments are apportioned, including the sum of payments due at each lease inception date. A typical finance lease agreement should include provisions that:• Specify the initial and renewal lease interest rates and payment schedules; (Note: If the lease interest rate is based on the prime rate, the finance lease agreement should specify how this rate will be determined.)

Hire Purchase

A hire purchase agreement allows the borrower to make a series of payments with a fixed monthly interest rate. The lender is entitled to take over the borrower’s assets if the business fails, which means that the borrower will be liable for any loss incurred. This type of finance is used when the asset’s price is relatively high and when a lump sum payment is provided in place of a series of payments. Interest is paid on the original debt, and new debt is created for monthly payments. Interest is charged on the new debt at a fixed annual rate. The interest rates charged are often very high, typically 8.5% to 10%. There is no capital requirement, and the finance is extended monthly.

Asset Refinance

Asset finance is a financing technique where a company borrows money against its assets. These loans, which usually have a shorter term and lower interest rates than traditional loans, are secured by the asset. In other words, the asset backs the loan. There are different type of assets that businesse may use for an asset financing process. The most common types of asset finance are equipment lease financing and vehicle lease financing. As with any lending, the borrower’s creditworthiness is a critical factor in determining the cost and yield of asset finance. Asset finance is not the same as asset-based lending, where a company borrows money against an individual’s property and assets. Asset-based lending is made possible by advances in credit cards and other forms of consumer debt. Since the asset financing eligibility differs from company to company, the asset finance calculators may help you to understand if your business matches the eligibility criteria and compares your different business funding options.

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Orthopedic Digit Implants Market Dynamics and Competitive Scenario

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The COVID-19 pandemic is expected to have a slightly negative impact on the market. As per The Commonwealth Fund, it was estimated that there was a nearly 60% initial decrease in overall outpatient visits by the month of May 2020 due to COVID-19. This was expected to have negatively affected demand for orthopedic sessions as they are usually conducted in out-patient departments. The outbreak of COVID-19 showed an impact on the market because hospital and healthcare services were significantly reduced due to social distancing measures taken by governments across the globe.

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Moreover, the COVID-19 pandemic not only affected the global economy but also showed a huge impact on the functioning of general hospital care for non-COVID-19 patients in hospitals across the globe. As many hospitals and clinics remain closed due to lockdowns, the demand for orthopedic digit implants is expected to be subdued in the short term. According to a study published in the British Journal of Surgery, in May 2020, based on a 12-week period of peak disruption to hospital services due to COVID-19, around 28.4 million elective surgeries worldwide will be canceled or postponed in 2020. More than 580,000 planned surgeries in India might be canceled or delayed as a result of the COVID-19 pandemic, according to a study conducted by an international consortium in May 2020.

With the postponement of these non emergent services the demand for the same has fallen down which includes orthopedic implants too. However, post Covid the piled-up services would be addressed, increasing the demand for these digit implants.

The increase in global geriatric population and the growing prevalence of orthopedic diseases are amongst the primary driving factors for orthopedic digit implants market. Furthermore, rising awareness about minimally invasive technologies and the advent of 3D printing technologies has changed the way orthopedic implant technologies are used. This is projected to positively impact market growth over the forecast period. According to the World Health Organization (WHO), by 2050, people suffering from osteoarthritis is projected to increase to 130 million across the globe. The growing prevalence of arthritis and the growing burden of orthopaedic conditions expected to boost market growth.

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Fungal Keratitis Treatment Market Sector Analysis Report, Regional Outlook

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The Fungal Keratitis Treatment market was valued at approximately USD 702.31 million in 2020 and is expected to witness a revenue of USD 962.94 million in 2026, with a CAGR of 5.79% over the forecast period.

The COVID-19 pandemic is anticipated to impact the growth of the Fungal Keratitis Treatment market significantly. The outbreak of pandemic has led most of the major players involved in research and development activities to halt the clinical trials related to drug development. Additionally, in March 2020, the Centers for Disease Control and Prevention and the American Academy of Ophthalmology recommended that physicians, including ophthalmologists, should limit in-person care to urgent and emergent patients while assuming the use of appropriate personal protective equipment. Also, it is estimated that there was a nearly 80% initial decrease in ophthalmology visits and that as of mid-June there was still a cumulative decrease in ophthalmology visits of 40% in the United States. This is likely to have a negative impact on the market studied.

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The growing burden of fungal keratitis and product development is expected to fuel the fungal keratitis treatment market growth. According to the article “Global Epidemiology of Fungal Keratitis and Its Outcomes” published in January 2021, researchers estimated that the annual global incidence of fungal keratitis to be approximately 1 million cases, with 8% to 11% of patients losing an eye. The risk factors associated with fungal keratitis are trauma, contact lens use, topical corticosteroid use, Diabetes mellitus, and low socioeconomic status. Incidental ocular trauma is undoubtedly the most common risk factor for fungal keratitis. Additionally, several efforts are being made to develop and find new therapeutics for fungal keratitis. For instance, in September 2018, L.V. Prasad Eye Institute, India completed the Phase 2/Phase 3 study on Combination Treatment of 5% Natamycin and 1% Voriconazole in Fungal Keratitis with the randomized double-masked clinical trial. The research institute is likely to initiate the Phase IV trials in 2021. Thus, the positive outcomes of such trials may result in a new treatment that is likely to boost the market growth in the upcoming period.

Also, as of 2021, Aravind Eye Care System, India is investigating a randomized control trial with topical anti-fungal therapy to assess the visual and clinical outcomes of collagen cross-linking in fungal keratitis. The study is aimed at finding the role of corneal cross-linking in non-resolving fungal keratitis in the prevention of perforation and enhancement of the healing process Thus, owing to the aforementioned factors, the studied market is expected to contribute to the market growth, however, loss of patents of product and side effects of the fungal keratitis treatment is likely to hinder the growth of the market over upcoming years.

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Hydroxyl Terminated Polybutadiene Market: key Vendors, Trends, Analysis

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The market for hydroxyl terminated polybutadiene is expected to grow at a CAGR of 3% globally during the forecast period. Growing demand from the construction industry along with increasing demand from the aerospace & defense industry are driving the market growth. On the flip side, higher production costs coupled with unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.

– The hydroxyl terminated polybutadiene market is expected to grow during the forecast period owing to the growing demand from the construction industry.
– Asia-Pacific region to dominate the market across the globe with the largest consumption from countries such as India and China.

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Key Market Trends

Growing Demand from the Construction Industry

– Hydroxyl-terminated polybutadiene is used in the formulation of adhesives and sealants which are used in the insulated glass sealants, waterproofing, and other sealing applications. It is used in the formulation of polyurethane foam, which is used for efficient insulation by sealing gaps and air leaks, thereby maintaining the interior temperature and reducing energy consumption.
– Moreover, the construction industry in the United States continued to expand in the future, owing to a strong economy and positive market fundamentals for commercial real estate, along with an increase in federal and state funding for public works and institutional buildings.

– The growing urbanization and construction activities are expected to drive the market for hydroxyl-terminated polybutadiene during the forecast period.

Asia-Pacific Region to Dominate the Market

– Asia-Pacific region is expected to dominate the market for hydroxyl-terminated polybutadiene during the forecast period due to the increasing demand from countries like India and China.
– Hydroxyl-terminated polybutadiene is used as in the encapsulants or potting compounds in the electrical and electronics industry. Apart from electronics, hydroxyl-terminated polybutadiene, based sealants are used in the automobile industry for sealing headlamps, speakers, bumper, and damping material. With China and India being a leading manufacturer in the automotive industry with a total production of about 30.2 million vehicles for the year 2019, with a decrease of 7.5% and 12% in production, respectively. However, the growing green initiatives combined with the success of electrical and hybrid vehicles are expected to drive the market.
– Hydroxyl-terminated polybutadiene is used in the formulation of solid rocket propellants for binding fuel and oxidizing agent. The growing space explorations from countries like China and India are expected to drive the market during the forecast period.

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Sri Lanka Lubricants Market – Profiling Global Players Industry Developments, Outlook

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The market for Sri Lanka Lubricants is expected to grow at a CAGR of more than 2% during the forecast period. Increasing usage of lubricants in automobiles and other reasons are driving the market growth.
Decreasing mining and construction activities and the Impact of COVID-19 which in turn is expected to hinder the market growth.

Key Market Trends

Growing Demand for Heavy Equipment from Agriculture Segment

– Sri Lanka, though a small nation, is reasonably endowed with industrial minerals but not with metallic and energy minerals. Sri Lanka’s mining industry majorly focuses on ceramic raw materials, construction materials, fertilizer materials, graphite, and other materials.

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– Tractor, Cultivator, Plows, Harrows, Seed Drills, Transplanter, and others are the common farming equipment that are being used for agriculture purposes. These types of heavy machinery need lubricants for continuous smooth functioning and efficient farming activities.
– The Sri Lankan government introduced Three year National Food Production Programme in 2016 that mainly focuses on increased production of crops locally, minimum food imports, and others. These factors have resulted in the growth of the agriculture segment in the country.

– Overall, LKR. 1.7 billion has been allocated in 2019 for agriculture sector modernization programs that enhance technologies and agricultural infrastructure.
– According to the Department of Census & Statistics Sri Lanka, agriculture production has witnessed highs and lows in recent years. The impact of COVID-19 on this region is one the main reasons in declining the usage of farming technologies and production of various agriculture machineries in recent times.

Expansions in Lubricant Production and other Manufacturing Activities

– During the year 2018, a total of 4,442.3 Kilo Liters of Lubricants were exported to regional markets around Sri Lanka. Chevron Ceylon Limited, Indian Oil Corporation Limited, Shell Markets (Middle East) Limited, and ExxonMobil Asia Pacific Pte. Limited are the major exporters to other regions.
– Leading companies such as Chevron Ceylon Limited, IOC, and Laugfs Holdings Limited have blending plants in Sri Lanka that offer products for both the automobile, industrial sectors, with export capabilities to other regions.
– Recently, another world-leading lubricant company Hyrax Oil Sdn opened a lubricant plant in Sri Lanka in 2019 in collaboration with the Ceylon Petroleum Corp. which can increase the supply of lubricants.

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Generative Design Market Analysis Covering Size, Share, Growth, Trends

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The Generative Design Market is expected to register a CAGR of greater than 15% during the forecast period (2020 – 2025). The upcoming trend of designing toolset with machine learning capabilities contributes to the growth of the market studied. Significant investments made during 2019, aimed at empowering designers to reduce the number of errors, thereby saving considerable time are expected to produce results in the future. ​

– Owing to the growing demand for advanced manufacturing with complex designs, and the need to reduce the size while improving the performance of automotive compels automotive manufacturers to increase their R&D investments and adopt generative designing.

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– Companies such as Airbus, Black & Decker, Under Armour, and other massive corporations embrace generative design as a trend molding the future of the engineering industry. It enables engineers to hand the reins off to their CAD software to naturally find the best solutions to a given set of constraints. It augments the engineer’s imagination.

Key Market Trends

Automotive To Hold Significant Share

– The growing trend of lightweight vehicle product has generated demand for generative design technology. In 2019, Volkswagen Group unveiled a vintage VW Microbus, which is retrofitted with several reconceptualized components produced by generative design technology. VW is promoting this vehicle to highlight technologies they believe would be significant to the future of automotive design and manufacturing, particularly concerning electric vehicle production. Autodesk partnered with VW’s Innovation and Engineering Center, California (IECC) on this project to maximize its strength while minimizing its weight. The generative design was deployed to produce lighter-weight parts by reducing mass and material use while maintaining high-performance standards and engineering constraints.
– Also, in January 2020, Electric vehicle company Arcimoto Inc announced that it is working with XponentialWorks and ParaMatters to design and additively manufacture lightweight components for its Fun Utility Vehicle (FUV). Deploying ParaMatters’ AI-powered generative design software, several elements are being redesigned in order to generate alternative parts that carry much of the same performance characteristics but at a lighter weight.
– Weight reduction has become a critical concern for electric vehicle efficiency as the less an automobile weighs, the less energy is required to propel down the road. More efficient energy consumption equates to more excellent range per charge, which is one of the most important considerations for consumers when evaluating electric vehicles.

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