Starting a new business is an exciting time, however, it can often be a difficult task working out how to go about purchasing your necessary assets to begin your business growth.
At First Business Finance we pride ourselves on our ability to offer finance on a very wide variety of assets across many market sectors.
First Business Finance offer asset finance to new businesses and start-ups in order to help get your business up and running.
New 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.
A finance lease 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.
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.
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.