Asset Refinancing Solutions from Richmond Asset Finance.
Asset Refinancing is based on using a company’s existing assets as a low-cost way to quickly release cash for the business to support growth or cashflow.
Most importantly, companies from all sizes can benefit from this type of financing solution, whether they are looking to expand, set up new projects or just need to raise funds quickly.
What is Asset Refinancing?
As one of the simplest financial solutions, asset refinancing is an arrangement which uses a company’s existing assets to raise cash. Also, it is a secured form of lending that uses an existing company asset as security against the loan.
The asset does not need to be owned outright as refinancing solutions can also be used on equity tied up in the company property. So, depending on a company’s requirements, they can refinance single or multiple assets. Refinancing multiple assets is also known as debt consolidation.
Additionally, funding providers can generally offer refinancing arrangements from £5,000 to £5million, depending on the value of the asset(s). Furthermore, terms are typically available from 12 months to five years, though this is dependent on the individual asset.