There are many benefits that Asset Finance could have for any business in different industries. Many businesses now are turning to this type of lending due to the benefits and current state the financial markets are in.
The upfront cost of buying equipment, vehicles, and machinery can often seem daunting, especially when trying to maintain a healthy cashflow or grow your business. From modernising or upgrading, to replacing faulty or old fashioned assets, we know sometimes a little help wouldn’t go amiss – and Funding Options is here for exactly that reason.
There are 3 simple ways you can go about getting finance for your business assets; here’s our beginners guide to help you understand what’s out there.
You can release cash into your business at any time for any purpose using assets you already own. This even includes assets with outstanding finance agreements.
2. Finance Lease
Purchase any business equipment now, without affecting your cashflow. Benefits include – no deposit, funds starting at £1000 +vat, and any equipment will be considered (including 100% software).
3. Sale & Lease Back
Equipment you have purchased in the past 3 months can be sold to a funder and leased back over 3 years. This will release cash you may have just spent, enabling you to use it elsewhere.
Asset Financing is more flexible than a business loan because it has tax and cash flow benefits for your business. Asset Finance is a loan that is used to obtain equipment for your business. When companies invest in tangible assets, anything from office equipment to manufacturing plants, cars to aircraft, they usually need a secure means of finance.
This makes Asset Finance is the third most common source of finance for businesses, after bank overdrafts and loans. It is a flexible alternative to a traditional bank loan, providing significant cash flow and tax benefits for businesses looking to purchase a new piece of equipment, a vehicle or other fixed assets.
With many years of experience, Richmond Asset Finance Ltd can help you to gain the important assets for your business to succeed