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Asset Finance

Asset finance allows you to buy essential business assets, like equipment or vehicles, by spreading the cost over time through regular payments, instead of upfront in one go.

 



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What is asset finance?                      
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Eligibility and exclusions                   
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Benefits and scenarios                     
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Risks                                                
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       Things you can use to secure the finance
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Is asset finance a good fit for you?    
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What is asset finance?

 

Asset finance is a way to get the things your business needs,
like equipment or vehicles, by paying for them over time instead
of all at once. It helps you avoid the burden of a large upfront cost,
making it more manageable for your business to buy and use
essential assets.

Eligibility and exclusions

 

Asset finance is available for any business that needs
important things like equipment, vehicles, or technology
to work. It doesn't matter if the business is small or big;
this type of finance helps them get those assets without
paying everything at once.

Evidence of being able to make finance repayments helps
boost your chances of getting asset finance.

 

Benefits and scenarios

 

Instead of using a large amount of cash to buy
assets outright, asset finance lets you spread the
cost over time through manageable instalments,
leaving more money in your business for day-to-day
expenses and unexpected needs.

It also allows you to regularly upgrade your equipment
or technology, helping you stay competitive and efficient
without the burden of always having to buy new assets
at full price.

 

Risks

 

You'll have to pay back the borrowed 
money with interest, which can add up and make the
overall cost higher than buying the asset outright.

Also, until you fully pay back the loan, the asset belongs
to the finance provider, and if you can't make the
payments, you may risk losing it.

If you happen to agree to a long-term finance plan for an
asset, it might become outdated or less useful in the future,
leaving you stuck with something that doesn't meet your
business needs anymore.

 

Things you can use to
secure the finance

 

It's essential to have a good track record of managing
debts and loans, and also be able to clearly explain what
assets you want to finance and how they'll benefit your
business. Lenders want to see that you're responsible with
money and that the assets you're getting will be valuable for
your business.

Think asset finance could
be a good fit for you?

 

Speak to one of our finance specialists today
to find out how you can get started.

Find out more: 

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The information does not constitute financial advice or recommendation and should not be considered as such.

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