With the rate that technology is evolving it is no wonder that we are receiving requests for loans on equipment that seems unfamiliar. Bira member, David Turnbull of Turnbull’s Home Hardware, recently expressed an interest in taking out a loan to finance an electrically assisted bike. His request showcases the impact that modern technology is having on the retail industry.
Having never given a loan for this kind of equipment, it was interesting to learn what an electrically assisted bike can do and the benefits of using one in the modern world. An electrically assisted bike can be used to improve your cycling experience compared to a regular bike, matching your pedalling input with varying degrees of electrical power given by the battery-powered electric motor. The build of the bike is heavier than a normal road bike due to the added weight of the electric motor, however, it can seem like you are riding a normal lightweight road bike depending on the power mode you choose.
There are many reasons for using an electrically assisted bike in the modern world. David uses the bike to avoid the irritation of finding a parking space when commuting between his stores. This saves him time and also provides a different way of fitting in more exercise to his busy schedule. Using the bike also reduces his reliance on motorised transport, which makes his day to day travel eco-friendly.
Having provided the loan to David, he was ‘impressed with how pleasant the Bira Bank* team are to deal with and that the transaction was carried out in a timely manner’. He was also pleased with our ‘chargeless early settlement’, which gives our members the freedom to pay off their loans early without risk of penalty. David is a perfect example of a Bira member that we want to support in the modern world and Bira Bank* is more than ready to meet the ever-changing needs of our members.
If you are interested in upgrading your equipment, visit our Birmingham Bank page for Loans options or call 03330 048 048.
Promotional equipment rates offer ends 30th June 2021.
For more information on how to become a more sustainable independent retailer, visit our Sustainability Hub
*BIRA BANK LIMITED, has now changed its name to Birmingham Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Finance Services Register No. 204478) Registered office: Floor 8, Lyndon House, 62 Hagley Road, Edgbaston, Birmingham B16 8PE Registered in England. Company No. 0555071