Quick & Secure access to capital injections through Asset Finance

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Asset Finance  

Asset financing is one of the best ways to secure a capital injection. Essentially, asset finance is a loan used specifically to buy or lease assets required to move a business forwards and grow. With every business having a unique set of opportunities and ways of working, the assets a business will require will vary from one company to the next.

Asset finance can be used on anything from equipment and vehicles to machinery; the list goes on.  

Asset finance options

When it comes to financing these important assets, there are various financial products that businesses can tap into. Below, we look at the most common asset finance options on the market; all of which the Lime Advisory team can assist with you.

Hire Purchase

A huge proportion of asset finance arrangements are ‘hire purchase’ contacts. This means the business gains immediate access to the product/asset and will pay to hire it until the end date that the hire purchase contract states. At the end of the contract, the business will have outright ownership. The length of a hire purchase contract is most commonly between one and six years. However, different lenders have different policies, with shorter and longer contracts often available.

Equipment Leasing

For businesses such and agricultural and haulage companies that require specialist equipment to operate, financial provisions need to be in place to ensure that should a new piece of equipment be required, the business does not suffer and can replace/add to their equipment inventory quickly. This is why many businesses of this nature choose to lease equipment, playing monthly for the rental of apiece of equipment for a pre-determined number of months/years.

Please note that when leasing an asset, you will not own it at the end of the contract period.  

Asset Refinancing

Asset refinancing agreements are suitable for businesses that have already invested in equipment and now need to release some of the capital tied up in them. The lender buys the equipment from you and leases it back to you over a set period of time. During this time, the business makes regular payments to the lender.  

Discuss asset financing for your business  

As you can see, the advantages of asset financing are huge. From having secure contracts and limiting monthly expenditure to having a fixed interest rate throughout the agreement, if you need to secure assets, asset finance is certainly worth consideration.

Contact us today to discuss your business’ asset finance requirements.  

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