Asset Finance
Asset financing is a strategic financing alternative that empowers businesses to secure vital assets, including equipment and vehicles, by leveraging the inherent value of the asset as collateral. This financing approach enables businesses to procure essential resources without the strain of substantial upfront costs, thereby optimizing cash flow management. Typically confined to a duration of less than a year, asset financing serves as a short-term financial solution. With interest rates that are generally more advantageous and lower than those of unsecured loans, asset financing offers a secure loan framework based on the asset’s value. This invaluable arrangement not only facilitates unfettered access to critical business tools but also fosters financial stability by distributing the cost of high-value assets over time.
Asset finance involves obtaining funding to acquire assets like equipment or vehicles, using the asset itself as collateral. This allows businesses to access necessary resources without hefty upfront costs, managing cash flow effectively. for less than a year. Interest rates vary but are typically lower due to asset backing.
Benefit for Asset Finance
- Improved Cash Flow Management
- Access to the Latest Technology
- Budget Predictability
- Preservation of Working Capital
- Tailored Payment Structures
- Tax Efficiency
- Avoidance of Obsolescence
- Enhanced Borrowing Capacity
Check you qualify in 30 seconds
See if you quality is no fuss
Apply online in 10 minutes
Tell us about you & your business in our online form
Get your decision in as little as 1 hour
If approved, you will get personalized, no obligation quote
Funds paid out typically with in 48 hours
Once you accept your offer, we will deposit the funds in your account.
Frequently asked questions
We accept inquiries for various asset types, including:
- Equipment: Manufacturing, production, engineering, agricultural, forestry, waste and recycling, materials handling.
- Plant and Construction: Industrial plant and machinery, road plant, forklifts, access platforms, cranes and pavers, diggers.
- Transportation: Heavy commercial vehicles and trailers, cars, light commercial vehicles, business fleets, car and van rentals, buses, coaches.
- Machinery: Machine tools for metal engineering and plastic production, bespoke manufacturing machinery, packaging and other production.
- Green Energy: Solar panels, biomass generators, wind turbines, heat pumps, LED lighting, battery storage.
To be eligible to apply for asset finance through Funding Circle your business needs to:
- Be based in the UK
- Be a limited company or LLP
- Have at least 1 year of trading history
- Have an annual turnover of at least £50,000
Certainly! You have the option to seek asset finance, leveraging existing assets like vehicles or machinery valued at £10,000 or above. These assets serve as collateral, potentially enabling you to secure a lower interest rate compared to an unsecured business loan.
Our network of trusted asset finance providers offers various products:
- Hire purchase: Pay for an asset in instalments, owning it at the end.
- Finance lease: Lease equipment while the provider retains ownership.
- Asset refinance: Raise capital using existing assets as security.
Capital allowance tax breaks let you deduct the full cost of eligible assets from your taxable profits, saving up to 25%. Electric vehicles also qualify for full tax relief.
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