Keeping your businesses powered with WesBank generator finance
WesBank, South Africa’s leading financier of moveable assets, has signed an agreement with industry leader Turner Morris to assist local businesses in minimising the impact of electricity load shedding. The deal will see WesBank offering finance packages for businesses to purchase all stationary prime and standby generators generator in the Turner Morris business line-up.
“It is an unfortunate reality that load shedding is here to stay for the next few years, but we’ve seen that South African businesses are tenacious and want to adapt to challenging conditions in order to remain profitable,” says Gerald Burton, CEO of the WesBank corporate division.
“Here at WesBank we also like to adapt to what the market demands, and have come up with a solution that reduces the immediate financial impact of buying a generator. Our Turner Morris finance packages are suited to all businesses – coffee shops to factories.”
Although businesses have been supplied with load shedding schedules for when power will be unavailable in their areas, supply remains volatile. There remains uncertainty around whether any given day’s load shedding will or won’t affect businesses, and a backup power supply is the best way to avoid unproductive downtime.
The International Monetary Fund has already forecast that South Africa’s GDP will only grow by 2.1% in 2015, and energy experts have estimated that load shedding can seriously affect the economy. It is estimated that ten hours of stage one load shedding, per month, could cost up to R20 billion, while more severe stages could see that figure climb to as much as R80 billion per month.
Of this, the risks to businesses are obvious. Aside from downtime, load shedding also presents material risks such as spoilt stock; damage to electronics and equipment; and increased exposure to crime when security systems are without power. During power interruptions battery-based backup power systems can mitigate these problems, but a two to four-hour-long power outage is best dealt with using a generator.
The Turner Morris standby generators are available to meet the power demands of a wide range of businesses (vets, hairdressers, motor dealerships, cinemas, fisheries and other commercial industries that manufacture goods and services). The business generators are designed to be installed permanently on-site, and have fuel tanks that will provide a stable power supply for up to eight hours. They are equipped with world-class engines from either Perkins or Cummins and are recognised as reliable assets for any business. Additionally, they are backed up by full support throughout South Africa and the rest of Africa.
The Turner Morris site has a handy power consumption calculator to assist business owners in determining their power needs. Using this online tool, decision makers can easily list all the appliances and equipment that are essential during load shedding, and receive a power consumption figure to select the correct generator so it’s business as usual.
Many local businesses, in an effort to save costs, have made the fateful mistake of selecting the incorrect generator or an untrustworthy brand that can’t be serviced due to a lack of parts. A restaurateur with a deep fryer and other kitchen appliances, for example, would require between a 150kVA – 220kVA to meet the minimal demand. Once the power needs have been established, business owners can use the business finance calculator to ascertain affordability and contact WesBank for a tailored quote.
WesBank offers finance for all business generators stocked by Turner Morris, with models that have outputs ranging from 12.5kVA to 2 000kVA. The generator finance deals for the selected models are structured over 60 months, and at an indicative interest rate of 12%.
Instalments, including all associated fees, are R3 075 per month for the 22kVA model; R4 345 per month for the 66kVA model; and R5 510 per month for the 110kVA model. However, terms and conditions do apply. Turner Morris offers installation of all its generators, which will activate a one-year/2 000 hour warranty. Installation also includes an automatic mains failure panel and an automatic transfer switch, to ensure seamless operation when grid power is lost.
Additionally, Turner Morris can also quote on:
- Inspecting business sites to establish a suitable location for installation.
- Rigging for the generator installation.
- Transport for installation.
- Installation cabling.
- Maintenance and service plans.
FOLLOW WESBANK ONLINE
Turner Morris microsite: http://www.tmpower.co.za/
Power consumption calculator: http://www.turnermorris.co.za/generators/consumption-calculator
Business finance calculator: https://www.wesbank.co.za/wesbankcoza/calculate/businessasset.xhtml
Business generator finance application: https://financeapps.wesbank.co.za/financeApps/company/asset/index.xhtml?siteID=wesbankcorp&appType=CPY
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