Asset Finance
Our Asset Finance Solutions
What is it and available to whom?
Asset finance is a way of raising money by way of hire purchase, lease purchase or leasing to acquire all types of capital equipment, available to new start businesses, small to large sized businesses. Our minimum deal size starts at £3,000 though up to £500,000.
What type of assets can be financed in this way?
Most assets are suitable for financing. In addition to the motor vehicles, plant and machinery, we will lend for purchase of catering equipment, CCTV and security systems, visual and audio goods, computer systems, leisure goods (gymnasium equipment and amusement arcade machines) Showmen’s rides, scaffolding poles and portable toilets to name just a few of the more unusual items.
Re-finance
Applicable only to the traditional type of asset such as vehicles, plant and machinery. Refinancing of existing assets provides an opportunity for businesses to improve their cashflow, raise capital for a MBI / MBO or to improve working capital. Some typical scenarios in which Eastern Credit have been able to assist with the refinancing of assets include:
- Plant Hire fleet to raise funds to assist cash flow.
- Manufacturing machinery to provide working capital for another business.
- Commercial vehicle fleet to raise funds for a deposit on four new tractor units.
Benefits of asset finance include:
- Assets and capital equipment are financed from revenue as you put them to work.
- Asset finance rates can be more advantageous than bank funding.
- Fixed rates / rentals making budgeting easier.
- Asset finance does not tie up working capital.
- Depending on the situation you may benefit from tax advantages.
- Leasing requires only minimal initial outlay.