The right finance path for your business
Updated: Jul 30, 2021
From Invoice Finance to Hire Purchase, finding the right finance product for your business can be difficult, when there are several different finance options with different benefits that could strengthen your business.
Asset Finance is a common finance product we recommend for various clients as it is an extremely valuable option which many businesses use, big or small, to gain access to business assets like equipment or vehicles. So if you're sitting here thinking “i'm in need of some new equipment for my business”, asset finance could be the right finance path for you!
Are you now asking the question to yourself “where do I find out more information”?
Let us explain and put you on the right finance path for your business…….
How does Asset Finance work?
The first step to Asset Finance is choosing a high value equipment, machinery or vehicle with an asset finance lender. Which you will then make monthly payments for a fixed period of time for. It can also enable you to release cash from the value of assets you already own.
What sort of Asset Finance are there?
There are different types of asset finance each with their own benefits, but they all follow the same principles of asset finance above:
Hire Purchase - The provider retains ownership of the asset which is leased over the term agreement with regular fixed payments. Businesses are able to make an initial large payment followed by smaller payments for an agreed schedule. At the end of the period, businesses can choose to buy ownership of the item outright with a further payment.
Finance Lease - This differs from other asset financing options as the business is only renting the asset. Payment is made with regular payments to an agreed schedule. This will last until the finance provider recouped the purchase value of the asset.
Operating Leasing - This tends to be used for specialist equipment that the business may not want to use for the full duration or has no interest in buying permanently.
What are the features?
There are many benefits that asset finance can have for a business. Asset Finance allows you to have access to the equipment your business needs. It also lets you manage your cash flow effectively. As well as great benefits there are also many brilliant features for Asset Finance too such as:
Low rates from 1.5%
Secured against the assets
Terms up to 7 years
If you have now decided that Asset Finance is the right finance path for your business, the best thing to do is simply contact Link Business Finance, our service is friendly, reliable and transparent from the very first moment you speak to us - this is what we are best known for.
Get in contact with us today for more information on Asset Finance!
Telephone: 01604 439699