Flexible Funding To Spread Your Costs
If you’re looking to purchase, refinance or service your business equipment, Asset Finance may be the solution for you.
This type of funding allows you to make significant investments into the latest equipment and tools scale up your productivity and expand without emptying your pocket. To facilitate this, we can organise flexible funding which achieves your business requirements at a competitive rate.
Competitive Pricing
Access To Whole Of Market
100% Maximum Advance
What is Asset Finance?
Asset finance is a funding option in which a provider assists your business in acquiring new assets or equipment by using the asset as collateral. In exchange, you make regular repayments to the provider over a predetermined period, typically with a nominal interest rate. This enables you to obtain top-of-the-line assets to support your business operations while avoiding significant disruptions to your cash flow. Examples include:
- manufacturing equipment
- production equipment
- transportation
- plant and machinery
- office equipment
- IT equipment
- materials handling equipment
- agricultural equipment
Asset Finance for Start-up Businesses
Start-ups can benefit significantly from asset finance, as it enables them to acquire essential assets without a substantial initial investment. It’s an effective way for new businesses to manage cash flow while obtaining the tools they need to thrive.
What does Asset Finance cover?
Asset finance covers a broad range of assets, including machinery, vehicles, equipment, and technology. Essentially, any tangible asset that holds value can be financed. This allows businesses to acquire essential assets without substantial upfront costs.
How does Asset Finance Work?
Asset finance involves the lender providing funds to purchase or lease a specific asset. The asset itself secures the loan, and repayments are structured over an agreed-upon period. At the end of the term, you may own the asset outright or have the option to upgrade to newer equipment.
Can I borrow money against assets?
Absolutely. Asset finance enables you to borrow money by using your existing assets as collateral. This can be a strategic financial move, providing liquidity without compromising your day-to-day operations.
Is Asset Finance Easy to Get?
Compared to traditional loans, asset finance is often easier to obtain. The asset being financed serves as collateral, reducing the risk for lenders. This makes it an attractive option for businesses with limited credit history or those seeking a faster approval process. Loan amounts and pricing vary depending on the following:
- Accounts
- Credit Profile
- Type of asset (hard/soft assets)
- Required leverage
Can I get Asset Finance with bad credit?
Yes, it’s possible to secure asset finance with bad credit, it’s just a little more challenging. Some specialised lenders focus on borrowers with less-than-perfect credit, you’ll just have to expect higher interest rates and more stringent terms. To find out your current score for free, click here. Our team is here to help. For a free consultation to identify your current options:
What is the difference between asset finance and a bank loan?
While both involve borrowing money, asset finance is specifically tied to a tangible asset. Traditional bank loans may be more flexible in terms of usage but often require a more extensive credit history and may have higher interest rates.
Asset finance requirements:
Typically, lenders will evaluate your creditworthiness, the value of the asset, and your business’s financial health. Documentation such as financial statements, business plans, and details about the asset (including serial numbers) may be required.
Grow your business with asset finance.
Asset finance can be a catalyst for business growth, allowing you to acquire necessary assets without depleting your working capital. Whether you’re expanding operations or upgrading equipment, asset finance provides flexibility and financial stability.