At Genesis we are committed to financing business. Since we commenced Principal-Lending in 2000 we have been actively involved in refinancing assets that businesses already own and this remains our primary focus.
Equipment Refinance enables your business to raise cash (for any general commercial purpose) which is secured against the used plant/machinery/equipment/vehicles owned outright by your business.
Critical to every one of the many equipment refinance proposals we transact is the need to establish clearly that your business owns the assets being used as security for the finance; we have tried and tested documentation enabling us to deal with this issue and therefore provide the finance required quickly and efficiently.
There are three main methods of financing these transactions:-
Sale and Hire-Purchase Back
Your business sells the asset(s) to us and we agree a hire-purchase plan for the asset(s). The asset remains in your business and, at the end of the repayment period, should you choose to your business can exercise the option-to-purchase element of the contract and thereby take ownership of the asset back for a nominal fee.
Sale and Lease Back
Similarly to Sale and Hire-Purchase Back, your business sells the asset to us, providing you with the capital you need, and leases the asset back with rentals spread across the duration of the agreement.
This differs to the above two Products; ownership of the asset remains with your business with the Loan being secured by a Chattel Mortgage over the asset. This Product is available only to Limited Companies.