Asset Finance comes in many different forms, and provides businesses with a way of either purchasing something that cannot currently be afforded, but is essential to the running of the business or obtaining capital from physically owned assets.
The most popular options are:
- Hire purchase (lease purchase)
- Finance lease (capital lease)
- Operating leasing
- Equipment leasing
- Asset refinancing
- Contract hire (vehicle asset finance)
At InvestGrow, we are experts in many different forms of asset finance, and will provide you a fast, competitive quote to lease any capital equipment necessary for the running of your business. This includes Plant, Vehicles, Production Equipment, IT and Telecoms Systems and even ‘Small Ticket’ items from £2K in capital value.
Leasing is a tax and cash efficient way of financing equipment for your business, it keeps the asset ‘off balance sheet’ and offers the following key benefits:
- It provides you immediate use of the asset without paying for it all at once
- It frees up working capital and bank loan / overdraft facilities for business growth
- The Lease contract is structured for the length of time you require use of the asset
- Sale & Leaseback allows you to release capital in assets you already own
- We can provide a solution irrespective of credit history or previous problems
- It offers the most tax efficient structure for your business
Eligibility
To be eligible for asset finance, the minimum criteria includes:
- Must be trading 3 months minimum
- Valid business debit card
- You are a director/owner/partner of the company
- £35k minimum annual turnover
- Business must be based in the UK
- Personal Guarantee may be required
Positives to asset finance
- Smaller costs when purchasing high-value items
- Asset finance spreads the cost of items
- The payments are fixed and therefore are easily budgeted
- The product that is being purchased itself is the security of the loan
- If leasing or hiring, expensive maintenance and servicing costs are borne by the service or equipment provider
- Through asset finance, your capital is freed up
- Any depreciation in the item on hire is not your business risk
- Prevents having to use bank loans or overdrafts which may have a higher rate of interest
How do I apply?
To apply for Asset Finance for your business, speak to one of our advisors and we can begin the process. Please contact us here or start an instant chat with one of our experts.