We'll help you find asset finance

We can explore various types of asset finance to find the best fit for your business needs. These include:

• Equipment Leasing: Similar to a long-term rental agreement, the lender purchases the equipment and leases it to you for a fee. You can use the equipment as required, but you don’t own it. You’re responsible for maintenance, and repayments are fixed for the agreed term, providing predictability.
• Hire Purchase: Commonly used for purchasing equipment or vehicles, the lender buys the asset on your behalf. You pay in installments over a set period, with the option of an initial deposit or a final balloon payment. Ownership transfers to you after the final payment.
• Finance Leases: Another form of extended rental, where the lender buys the asset and leases it to you for a fixed monthly payment. You handle maintenance and take ownership of the asset at the end of the lease.Operating Leases: This arrangement allows you to rent an asset for a specific period without covering its entire lifecycle. Often used for commercial vehicles, heavy equipment, or property, this type of lease typically involves returning the asset at the end of the agreement.
• Asset Refinance: A solution to unlock the value of assets your business already owns. You sell the asset to a finance provider in exchange for a lump sum while retaining the ability to use it. You then repay the lender over time, and once fully repaid, you regain full ownership of the asset.

• Because the lending is asset-based, it means your business can invest in assets multiple times if required.      
• Due to asset-based loans having fewer qualification criteria, it can often make this form of finance quicker and easier to access.      
• Asset-based lending can be used as a gateway to getting other forms of credit. This is often easier for new businesses that are building up their creditworthiness.  

• As the loan is secured against your business assets, these items can be seized in the event of a default. 
• If the assets you want to use as collateral are given a low  valuation, this can substantially cut the amount of money you can  borrow. But if your asset increases in value, your loan limit will  not necessarily increase. 
• Costs can be high when your asset is industry-specific or there is a limited appeal from the lender. 

There are several things to consider before applying for asset finance, including: 

• How much you want to borrow - It’s important to  know how much the item you need to buy costs, so you know how much you  need to borrow. This is especially important if it is being custom made  for your business. 
• How much you need to borrow - The amount you need  to borrow will help determine the best type of asset finance for your  circumstances, as well as the repayment terms. If you choose a  longer-term loan, this usually means lower monthly repayments but more  to pay back overall. 
• What assets you want to buy/refinance - The type  of item you want to buy or put up for refinance might influence  the asset finance company you could use, especially if it involved  specialist equipment. 

If you’re unsure about anything, the team at Vortex Financial are  on hand to answer any questions and help you find finance that fits  your business. 

If you feel that asset-based finance is the best option for your  business, do not hesitate to give our team a call to get this process moving on 07749 874 185.