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Financing Any Asset

 

Paying for new assets and equipment in one go can be expensive for most businesses out there, as well as also being a big risk, leaving many businesses with long-term cash problems, as a result.

What's more, acquiring the assets you need can be a real Catch 22 situation, not having the cash to buy the equipment, but needing the equipment to make more cash!

 

We offer a wide range of bespoke options for your asset finance, whether you're adding a new key asset to your business or just starting out.

Using our panel of lenders we will find you the best deal available.

  • asset finance loans

    Credit score not affected

business asset finance

Unsecured Loans up to £500,000

asset finance deals

Interest rates as low as 2.9%

 

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How business 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.

 

 

business asset finance

Over £30 million lent to small businesses.

 

Some of the sectors we finance

 

construction asset finance (1)Construction machinery

agriculture asset financeAgriculture machinery

forestry asset financeForestry machinery

retail asset financeCatering equipment

vanVehicle

office asset financeOffice equipment

production line asset financeProduction line

truck finance (1)Truck finance

 

 

How Asset Financing Works

 

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

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Why Love Finance

 

asset finance support

 

Available 24/7

Access to our financial services is always available

short term asset finance

 

Completely Automated

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What Suits You

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

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Advantages of asset financing

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 a number of things to bear in mind. First, asset finance is not suitable for everyone and it is important to speak to an expert before making a decision. Second, asset finance can be complex and it is important to understand all the terms and conditions before entering into an agreement. Third, asset finance can be more expensive than other forms of financing, so it is important to compare different options before making a decision. 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

Asset Financing FAQ

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 It?

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.