Asset Finance
What is Asset Finance?
Asset finance allows businesses to acquire essential assets without the need for significant upfront capital. This type of financing uses the assets themselves as collateral, providing a flexible and manageable way to fund purchases.
How does Asset Finance work?
- Application: Submit an application detailing your business needs and the assets you wish to finance.
- Assessment: Our team will assess your application and the value of the assets.
- Approval: If approved, we will arrange the financing and provide the necessary funds.
- Repayment: Make regular payments over the agreed term, with the option to own the asset at the end (if applicable).
What are the benefits of Asset Finance?
- Immediate Access: Obtain the latest equipment or machinery without waiting to save up.
- Improved Cash Flow: Spread the cost over manageable payments, avoiding a large initial outlay.
- Flexibility: Choose the financing option that best suits your business needs.
- Tax Benefits: Potential tax deductions on financed assets.
Find Asset Finance for your business
Asset finance can be a valuable way for your business to secure important funds in a way that is affordable and flexible for your business.
Your business is unique and so are asset finance lenders. Each asset finance provider is different, so it is important to understand which one is right for your business. We have a panel of experienced asset finance experts who are qualified to offer you the asset finance advice you need.
It’s also important to understand that if repayments aren’t made, there is a risk of losing important assets that are critical to the running of your business.
FAQs
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A wide range of assets can be financed, including vehicles, machinery, office equipment, and technology.
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Hire purchase allows you to own the asset at the end of the term after making all the payments. A finance lease involves leasing the asset for a fixed term with payments covering its cost and interest, but ownership typically remains with the finance company.
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The approval process can vary, but typically it takes a few days to a week, depending on the complexity of the application.
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Yes, there can be potential tax benefits, such as deductions on lease payments or depreciation on purchased assets. It's best to consult with your accountant for specific tax advice.
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Yes, used equipment can often be financed, depending on the condition and value of the asset.
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If you encounter difficulties making payments, it's important to contact us as soon as possible. We can discuss your situation and explore options to help manage your repayments.
