Asset Finance is normally used to purchase or refinance an identifiable asset (machinery, equipment, vehicles etc) and can free up working capital whilst being tax efficient as a deductable expense.
care as, unlike mortgages, the borrower is normally committed to pay
the full amount over the terms with a minimal rebate. So when you see
an offer with no ERC’s / no exit fees that’s often because the
contract amount has to be paid even if the loan is settled early.
watch out for the terminology – rates quoted are often flat rates
which on a term loan can often work out around double the normal
mortgage / loan rate you might be used to.
Talk to one of the team about the scenario and we will find terms for you after also considering other options which may be available such as invoice factoring, stock finance, and more traditional lending such as commercial remortgages and secured loans.