Asset finance is a lending facility that will enable you to purchase business assets (e.g. machinery, equipment and vehicles) without having to pay for them upfront. It is ideal for both new and established franchisees who need to purchase operational machinery or equipment but don’t necessarily have the cash readily available or would prefer to spread out the costs.
There are some different options for asset finance, depending on what your specific needs are. You can purchase the asset and spread the cost out over a set period of time, this is known as hire purchase and when all payments are made the asset is yours to keep.
Another option is equipment leasing, the lender will purchase the asset and then rent it to you over an agreed period for a monthly fee for a set period of time. At the end of this time, you can then decide whether to further extend the lease, pay off the remaining balance of the asset, look to upgrade to a new item or simply return the asset.
For more established franchisee’s you can also use existing business assets to gain access to more cash. Lenders can provide funding of up to 80% of the value of an asset.
If you need any help regarding asset finance, then our team would be delighted to help. To find out more please call us on 01993 706403 or e-mail email@example.com.