Compare asset finance to spread the cost of a new purchase or release cash from commercial assets you already own.
Compare asset finance to spread the cost of a new purchase or release cash from commercial assets you already own.
Asset finance is a type of loan that allows business owners to finance new assets such as equipment, machinery, and vehicles. It also enables businesses to release finance from the value in assets they already own. Typically, a lender will offer around 90% of the asset value which is worked out by the effecting depreciation.
If a business defaults on its payments, an asset-based lender can seize the asset and sell it to pay off the remaining debt.
We can compare several types of asset finance to find a solution that fits the needs of your business. Options include:
A one-stop-shop that operated as an off license, convenience store and a greengrocer has opened a new store and needs to fund the renovation. It also needs to upgrade the refrigeration equipment and introduce new assets such as coffee machines.
Their first thought was to apply for a term loan to cover the cost. But after speaking with the team at Think Business Loans, it was decided that the best decision was asset finance. This allowed them to release more funds by investing in assets multiple times over, and the qualification criteria meant less time waiting for their money.
When the finance was approved, the client was able to renovate one of their stores to a high standard which improved revenue and overall customer experience. They were able to do this without having an impact on their cash flow.
There are several things to consider before applying for asset finance, including:
If you’re unsure about anything, the team at Think Business Loans are on hand to answer any questions and help you find finance that fits your business.
If you feel that asset-based finance is the best option for your business, do not hesitate to give our team a call to get this process moving on 0203 880 9880.
Every business is unique, so we first need some basic info on your business so we can find finance to fit your needs and circumstances. Our cutting-edge iFunds technology will match your business against the suitable loans and lenders.
We put your application to tender with our panel of lenders to find the most suitable solution. An account manager will then talk you through your options and you can track the progress of your application via our smartphone app.
Once you’ve chosen the loan you want, we’ll handle all correspondence and information requests. Your account manager will be on hand to answer questions, give you regular updates and make sure you get your funds as soon as possible.
If you take out a loan, we may receive a commission from the lender, which is included in the rates we quote.