First Business Finance prides itself on its ability to offer finance on a very wide variety of assets across many market sectors. Asset financing is a common type of lending that allows your business to access assets like equipment, machinery and vehicles without the need to spend large sums of cash upfront purchasing them.
Short Term Asset Financing:
Short term asset finance allows companies to stay at the forefront of technological / business developments by making it significantly easier for them purchase the current gen technology.
Business Asset Financing:
Business asset finance is commonly used by businesses who plan on expanding their company but do not have the bulk cash or would like to spread the cost over several months / years which would allow additional cash to be available monthly.
Finance leasing is similar to both hire purchases and an equipment lease, however, it is designed to be stretched over a much a longer period and often the entire usage span of an asset.
Operating leases are a very common type of asset / equipment lease. To put it simply an operating lease if a rental agreement between First Business and you / your company. We will set a monthly rate over a fixed period of time, this will often work out alot cheaper than other financing option as you are not paying the full asset value.
A hire purchase is an easy way to purchase a company asset and then spread out the cost over a set period of time. The cost will be repaid in instalments, which means that you own the asset in regards to your balance sheet, but will not have full ownership until the term is complete and balance is paid.
We will offer you a loan against the value of specifies assets owned by your business, for example a building, car or commercial equipment. The premise of this type of loan, if you cannot keep up with payments the item will be recouped.
Reduced upfront costs – reduces the initial costs involved when purchasing an asset upfront.
Secure, fixed costs – a set payment plan will remove any uncertainty in regards to budgeting.
No deprecation – asset finance lowers the risk associated with depreciating assets (eg. vehicles, tech & property).
Increased cash flow – spreading the cost over a set period allows you to use additional funds for growth purposes.
- Print, Etching, Paper & Embroidery – Commercial Printers, Laminators, Label Systems, Die-Cutters, UV Coaters, Photo Processing Equipment, Sewing Machines and Embroidery Machines.
- Construction – Plant Equipment, Commercial Equipment, Compact Equipment, Diggers, Backhoe, Loaders, Skid Steer, Compactors, Dumpers and site tools.
- Engineering – Milling machines, Vertical Drills, Vertical Mills, Laser Cutters, 3D Printers, CNC Machines / Machining Centres, CNC Lathes, Surface Grinders, Welding Facilities, Vacuum Forming, Rolls/Rollers, Bandsaws and Tool Chests.
- Gym Equipment – Fitness equipment, Strength equipment & Cardio equipment
- Catering – Cooking Equipment, Ovens, Grills, Fryers, Griddles, Dishwashers, Sinks, Fridges, Freezers, Furniture and Beverage Machines,
- IT & Software – Computers, Tablets, Phones and Office Printers.
- Transport & Vehicle – Cars, Vans, Lorries and Motorbikes.
- Retail & Leisure
Asset finance can work in many different ways, based on your requirements and what works best for you. A hire purchase works by letting you spread the cost of an asset over an agreed amount of time. The at the end of the payment period and once you’ve paid the lender fully, the asset is yours.
Equipment leasing works a bit differently, we would purchase the asset in full and you then you pay us a monthly set fee to rent it off us. At the end of the finance term you can either extend the lease or pay the remaining balance.
Asset refinance is a process that allows you to release cash into your business using your existing assets.
Asset finance is available for any type of business
It is best used for business owners & individuals that wish to purchase an asset that has a high upfront cost and supports the development and growth of a business. It is also for companies that wish to spread the cost of an asset over time to free up additional funds.
Our asset finance terms can span from anywhere between one to seven years depending on what is agreed at the start of the finance term.
The length of time the finance is provided usually takes into account the length of time that an asset is going to be fit for its purpose within your company.
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