Access business assets such as machinery, equipment and vehicles without upfront purchase.
Release cash from valuable assets or use existing assets as security against a business loan.
Want to put growth plans into action but don’t necessarily have the ready cash?
Want to spread large costs over a longer period?
Need to remain competitive with access the latest technology?
Asset finance includes:
- Equipment leasing
- Hire purchase
- Asset refinance
Hire purchase works by enabling you to spread the cost of purchasing an asset over a set amount of time. Once you’ve paid the lender in full, the asset is yours to keep.
Equipment leasing, on the other hand, works by the lender buying the asset and you paying a monthly fee to rent it. At the end of the agreed term, you can extend the lease, pay the remaining balance to buy it, upgrade to a new model or return the asset back to the lender.
Asset refinance allows you to release cash into your business using your existing assets. You can also use it to consolidate debt or provide security when structuring a deal.
Asset finance is designed for any type of business, including SMEs. It’s designed for those who wish to access an item that has high value to support their business’ growth and spread the cost of the item over its usable life. Asset finance is available to eligible limited companies and partnerships, sole traders and public limited companies.
Looking for finance?
Let us help you find the best financial product in the market. We will guide you through the whole process and make sure you get the best deal.
Asset refinancing
Asset refinancing is the process of securing a loan against valuable items that your business owns, like buildings, vehicles or equipment. It’s a simple idea — if you can’t keep up payments on the loan, the lender takes the asset to recoup what’s owed.
Because you’re effectively ‘unlocking’ cash, the amount you can borrow depends on the value of the assets involved. Asset-backed lending is sometimes used for debt consolidation.