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Get quoted for asset finance in 60 seconds

Find out in 60 seconds, without harming your credit score

Avoid large upfront costs, finance your asset and begin making a return on your investment right away.

Our automated process lets us get your asset financed quicker than any other lenders.

We supply the financing of any asset to thousands of small businesses with rates from 5.5%%.

Apply for asset financing and borrow up to £500,000, and get funds in 24 hours.

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  • asset finance loans

    Credit score not affected

business asset finance

Asset finance up to £500k

asset finance deals

Rates from 5.5%

 

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See what asset finance offers you are eligible to receive.

This will not impact your credit score.
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business asset finance

Over £70 million lent to small businesses.

 

How Asset Finance Works

 

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  • Apply

    Quotes take less than 2 minutes.

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    Get an instant and fair credit decision

  • easy asset financing
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    Docs can be signed from any device. 

  • quick asset financing
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    Money is sent to your account in 24 hrs.

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Just a few of the assets we finance

We offer finance for any asset, at any price. A few examples of asset finance we offer includes:

Machinery Finance

Such as warehouse machinery, from conveyor belt finance to laser cutters. 

Equipment Finance

Such as financing tanks, generators, or compressor finance. 

Vehicle Finance

We can also offer finance on any commercial vehicle, from vans to trucks.

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Why Use Love Finance to Finance an Asset

 

asset finance support

 

Available 24/7

Access to our financial services is always available

short term asset finance

 

Completely Automated

Fill out our short online form - to get an instant credit decision. 

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What Suits You

Flexible payment terms up to 5 years. No hidden fees.

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How asset finance works

When a business needs to acquire an asset, it often does so by taking out a loan from a bank or other financial institution. This loan is then used to purchase the asset. The business then makes regular repayments on the loan, plus interest, over an agreed period of time. This type of financing arrangement is known as asset finance.

Asset finance can be used to purchase a wide range of assets, including machinery, vehicles, equipment, and property. It can be a useful way for businesses to spread the cost of an asset over its lifetime, rather than having to find the whole amount upfront. It can also make it easier for businesses to obtain the assets they need in order to grow and expand.

There are a number of different types of asset finance available, and the best option for your business will depend on a number of factors, such as the type of asset being purchased and the financial situation of your business. Businesses should seek professional advice when considering asset finance in order to ensure that it is the right option for them.

 

Advantages of asset finance

Asset finance is a great way to acquire the asset you need without having to go through the process of taking out a loan. With asset finance, you can get the asset you need and spread the cost over a period of time that suits you. This means that you don't have to pay for the asset all in one go, and you can avoid going into debt.

Asset financing can also be used to raise finance against an asset that you already own. This can be useful if you need to raise money quickly and don't want to sell your asset. If you are considering asset finance, there are four things to bear in mind.

#1

First, asset finance is not suitable for everyone and it is important to speak to an expert before making a decision.

#2

Second, asset finance can be complex and it is important to understand all the terms and conditions before entering into an agreement.

#3

Third, asset finance can be more expensive than other forms of financing, so it is important to compare different options before making a decision.

#4

Finally, asset finance is a flexible way of acquiring assets and can be tailored to suit your individual needs. By understanding all the ins and outs of asset financing, you can make sure that it is the right option for you.

 

Any questions about asset finance?

Speak to one of our highly skilled account managers

We're automated but it's always nice to know there's a real person behind the scenes to support you, so if you have any questions or looking to enquire please don't hesitate to contact us.

Call 0800 086 9404 or Email Us
Office Hours are Monday to Fri 9:00 am - 5:30 pm

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Asset Financing FAQ

What is Asset Finance?

Asset finance is a type of financing that is used to purchase assets. The most common asset that is financed is a vehicle, but asset finance can also be used to purchase other types of assets, such as machinery, equipment, or real estate. Asset finance typically involves the use of a loan to purchase the asset, with the asset serving as collateral for the loan. This type of financing can be beneficial for businesses that need to acquire assets but do not have the cash on hand to do so. It can also be used by individuals who may not qualify for traditional financing.

What Is Hire Purchase?

The term Hire Purchase means you're given a choice to buy the asset you've got for a small fee when the agreement has ended. With this kind of deal, you typically pay more upfront, but the remaining price for the item is then split up and repaid. Your interest will also be fixed throughout the agreement terms. At the end of this agreement, you are then given the option to buy the asset for a small fee.

What Is Lease Financing?

Lease Financing is something else to consider. With this deal, the funder buys the asset on your behalf and you can use the item throughout the lease agreement. Then, you just pay a series of installments so that you can use the asset. Our Lease Financing works a little differently in that you pay a low amount upfront then you normally would if you chose to use Hire Purchase. The remaining cost of your asset is then split up into monthly payments and repaid at a fixed interest rate each month. This goes until the end of your lease. However, you also have the option to keep the item at the end of your initial lease period. Of course, doing so is subject to the annual rental fees.

What Is Refinancing?

Refinancing helps you release the cash that is currently tied up in your existing assets. You can get access to the capital that can be found from current equipment and use it for many purposes. This service can help you boost cash flow, and it’s provided on both Hire Purchase and Lease Financing agreements, even if you still owe payments. In most cases, refinancing is worked out by a percentage of the equity within the assets. Therefore, you can get a higher amount back if you own your asset without owing any money on it. If you have an item that you’d like to have refinanced, please get in touch with us on 0808 274 1672 and let our friendly representatives help you.

How Soon Can I Get Asset Finance?

In most cases, you can get the money when it is most convenient for you. When you call on us, we start the process immediately and can give you our decision within one business day. Usually, we pay our supplier directly; once the contract is in place and signed with us, we pay the provider the day after. That being said, we do know that time is of the essence. If the situation calls for it and we are able, it can be possible to approach us in the morning and get your asset by that afternoon. Sometimes, it really is that quick!

How Does Asset Finance Work?

Asset Finance can help businesses get the items they need without significant upfront costs. In a sense, the funder (us) purchases the asset, which also acts as a security measure for us. You get to pay the monthly installments to own/use the item, depending on if you take out a Leasing Agreement or Hire Purchase.

What Are the Repayments?

With Asset Finance, you won’t have to worry about any upfront costs. As such, the repayments and plans are straightforward. Repayments are made monthly, and you have a fixed, pre-agreed upon interest rate. Best of all, you can choose the time frame that is ideal for you – anywhere between one to five years. Sometimes, we can even offer extended periods of time. We also tailor the repayments to your needs. For example, if your business is seasonally operated, we can help you get a repayment plan that reduces the amount you pay during the lull.

How Much Can I Borrow?

The amount you can borrow will vary depending on the type of company. For example, a Limited Company can get assets from us between £5,000 and £500,000, while an Unlimited Company can get asset funds between £25,000 to £500,000. As such, we can lend up to £1 million for any one customer. You can view the full product facts in the table below.

What Is Better for My Business?

Now is the perfect time to look at why companies might choose Lease Financing or Hire Purchase. It is important to choose the one that is best for you and your business. This typically results in how much of a down payment you want to incur. Usually, businesses decide to go with Hire Purchase if they want to pay a higher fee upfront. Many times, Hire Purchase allows you to claim back your VAT in a regular way.*Lease Financing, on the other hand, gives you a lower cost upfront. The VAT is charged for each rental, and the VAT can be reclaimed as you make the payments.** You will note a variety of different treatments for the products from an accounting, VAT, and tax perspective. Therefore, you should consult with your advisers to determine the best method for you and how it might affect your business.

What Do I Need to Consider When Applying for Asset Finance?

When applying for asset finance, there are a few things that you need to consider in order to get the best deal possible. The first thing is the type of asset that you are looking to finance. This will determine the amount of money that you can potentially borrow, as well as the interest rate and repayment terms. The second thing to consider is your financial situation. This includes your income, employment history, credit score and financial commitments. Lenders will use this information to assess your ability to repay the loan, so it's important to make sure that you are in a good position before applying. Finally, you need to compare different asset finance products from different lenders to find the one that best suits your needs. By taking all of these factors into consideration, you can ensure that you get the best deal possible on asset finance.

What Type of Asset Finance is Right for Me?

There are many different types of asset finance available, so it's important to understand the options before choosing the one that's right for you. Hire purchase is a popular option for buying asset, as it spreads the cost of the asset over time. You'll usually need to put down a deposit and then make monthly repayments until the asset is paid off. Leasing is another option, which allows you to use an asset without owning it. With leasing, you make regular payments but don't usually have to pay a deposit. At the end of the lease period, you can either return the asset or buy it outright. There are also a number of other asset finance products available, including chattel mortgage and equipment finance. Talk to your financial advisor to find out which option is best for your needs.

Can I Get Asset Finance If I am a Start-Up?

Getting asset finance as a start-up can be a challenge, especially if you don't have good credit. However, there are ways to arrange asset finance even as a new business owner. One option is to take out a personal loan, which can allow you to borrow the money that you need to make your asset purchase. Another possibility is to consider arranging van finance through an independent provider, such as Love Finance. This can give you more flexibility in choosing the type of asset and loan terms that work best for your unique situation. So if you are looking to get asset finance as a start-up, don't let it hold you back - there are plenty of options out there for both new and established business owners alike!