with financing their
We can provide your business with finance to acquire new or used equipment and assets.
Whilst each request is unique, the vast majority can be financed in one of two ways. Which way will depend on several factors, but all of our solutions are tailored to your specific business requirements and situation.
A Hire-Purchase solution allows your business to acquire the assets it needs without the financial burden of an outright purchase. You select the equipment and supplier you want, and we agree a repayment plan for the asset. The asset is delivered direct to your business. At the end of the repayment period you can exercise the option to purchase your asset for a nominal fee. Capital Allowances are claimable by your business and the VAT element of the purchase price of any asset financed can be reclaimed by your business.
Leasing is a highly efficient method of financing equipment. In some respects it is similar to Hire Purchase as rentals are spread across the duration of the agreement. Unlike Hire Purchase, VAT is payable on every rental but the rentals payable are up to 100% tax allowable in line with HMRC regulations, providing an additional benefit to your business. Importantly, at the end of a Lease agreement your business does not own the asset. As a general rule, for assets financed via Leasing, Capital Allowances are not available to your business. At the end of the Lease the business can enter into a secondary rental period for a nominal annual rental or alternatively the asset can be sold and your business can benefit from receiving a high percentage of the net sale proceeds.
What information do we need?
The borrower’s latest accounts, including any in-year management accounts.
The borrower’s last six months bank statements.
Full details of the equipment that is owned (or currently on finance) that is to be used as security.
What is the money going to be used for, and what is the story behind the numbers?
Information required under ‘Know Your Customer’ regulations for both Directors and larger Shareholders.
An integrated forecast for the 12 months post-acquisition.
Commercial Vehicle Finance
When a courier franchisee wanted to replace hire vehicles with their own, a hire purchase facility was the solution
When a food manufacturer needed to invest in new equipment, a finance lease facility helped their growth.
Company Vehicle Finance
When an electrical contractor needed to replace their company vehicles, we were able to help when their bank wouldn’t.
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We’re here to help
Whether your business needs financial support to grow, invest in equipment or raise cash, get in touch to see how we could help.