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Some of the asset finance lenders compared….

Comparing Asset Finance

Asset Finance is a general term used for a range of commercial funding options. Some examples of asset finance include hire purchase, leasing and refinancing. Firms in our asset finance comparison will offer one or more products, and the information provided is a summary of what that brand offers.

*Rates of interest shown will be the lowest offered by the lender from one or more relevant products. These do not include any product fee’s that may be applicable and is not an APR. Rates may be variable or fixed. Loan data provided by Funding Options.

Always check up to date rates and terms with the lender

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Asset Finance Loans: A Guide for UK Small Businesses and SMEs

Asset finance loans are a way for UK small businesses and SMEs to get funding by leveraging their business assets. This guide explains asset finance loans, including key features and which businesses they’re most suitable for.

Key Features of Asset Finance Loans

Funding Based on Business Assets
Loans are secured against business assets such as machinery, vehicles, or IT equipment. This allows businesses to acquire new equipment or release capital tied up in existing assets.

Two Main Types

Asset Purchase (Hire Purchase)
Spread the cost of an asset over time with eventual ownership. Often requires a deposit, followed by fixed monthly payments.

Asset Leasing
Allows businesses to use the asset without ownership. Flexible leasing options include finance lease (with an option to buy) and operating lease (short-term use).

Sale and Leaseback
Sell an existing asset to a lender and lease it back immediately. This unlocks cash tied up in assets while retaining their use.

Flexible Repayment Terms
Repayments can be structured over several years, often aligning with the asset’s expected lifespan. This helps manage cash flow more predictably.

Fixed or Variable Interest Rates

Fixed Rate: Predictable repayments with no interest rate fluctuations.

Variable Rate: Interest may change based on market conditions, potentially saving money in low-rate environments.

Best-Suited Businesses

Manufacturing and Construction: Ideal for businesses needing expensive machinery and equipment. Enables businesses to spread the cost of assets over time.

Transport and Logistics: Suitable for businesses acquiring new vehicles or fleets. Offers flexible leasing or purchasing options.

IT and Technology Firms: Useful for companies investing in software or IT infrastructure. Helps manage the cost of rapidly depreciating technology.

Growing Businesses: Helps expanding companies acquire new equipment or improve existing assets. Allows growth without a significant upfront capital investment.

Comparing Asset Finance Loans

Define Your Needs: Determine the type of asset required and the amount of financing needed.

Compare Interest Rates and Fees: Review the Annual Percentage Rate (APR) and any hidden fees.

Check Eligibility Requirements: Different lenders have varying criteria for business size, credit score, and asset value.

Consider Other Loan Types: Compare with other options like working capital loans or business lines of credit.

Seek Professional Advice: Consult financial advisors or business mentors to identify the best funding solution.

Unlocking The Asset

Asset finance loans can help small businesses and SMEs acquire or unlock the value of assets, enabling growth and improving cash flow. Comparing different loans, including asset finance and other options, can help you choose the best solution for your business.

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