Equipment Refinance
Equipment refinance is a quick way to access cash by taking “equity” held in your existing equipment or machinery. The funds can then be utilized elsewhere in your business or simple aid cashflow.
Benefits:
- Tax Efficient
- Fixed Payments
- Easy Budgeting
- 1-5 Year Terms
- Borrow from £10k – £5m
What Can Be Refinanced?
In a nutshell, anything. But critically lenders place equipment into two different categories – Hard Asset and Soft Asset. Hard assets can be refinanced at slightly cheaper rates than soft assets, mainly given that hard assets have a much higher resale value and soft assets do not. Which of course in the event of default is important to a lender. For soft asset refinance, the equipment must have been purchase inside the preceding 12 Months and copies of purchase invoices will be required to evidence this.
Hard Asset Examples:
- Commercial Vehicles
- Manufacturing Equipment
- Engineering Equipment
- Heavy Construction and Plant
- Agricultural Plant and Machinery
Soft Asset Examples:
- Audio Visual Equipment
- Shopfitting
- Beauty Equipment
- Dental Equipment
- Gym Equipment
- Laundry Equipment
- Waste Disposal Equipment
- Furniture
- Catering & Kitchen Equipment
The Process:
- Apply Online Here
- Submit any Financial Info Requested inc Equipment Purchase Invoices
- Get Approved
- Get Funds!
Whatever your business need, the right kind of flexible finance is available to you. We’ll carry out a needs assessment based on your requirements and circumstances and advise on the loan products we can offer you. Our team are experienced, helpful, friendly- and they don’t speak in jargon!
Get in touch for a no-obligation chat today and secure the business finance that you need.
