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How do I refinance existing Equipment

More and more businesses are looking to refinance existing equipment, plant and machinery to assist we cash flow. XL Business Finance has been helping customers for 10 years and is one of the UK leading independent finance companies in this area.  Not only can refinancing equipment provide cash for any purpose  and provide financial freedom,  it is quite possible to refinance plant and machinery already on finance and provide a massive cash flow benefit by having a lower monthly payment.

The first thing we have to do is obtain a valuation for your existing machinery. Any heavy goods such as engineering equipment, printing equipment yellow, goods commercial vehicles, buses and coaches are all suitable security. We will age make  model and any details of any  extras which might positively enhance the valuation. We will then obtain valuations for various different sources.  As this doesn’t cost anything we will only have indicative valuations only. XL Business Finance has the expertise and knowledge in various sectors to know which finance companies and valuers will provide the best valuations in various sectors

If the valuation stacks up we will obtain accounting information and bank statements to obtain a funding facility. If equipment is already on finance if we can obtain copies of the finance agreements and we will be able to calculate approx settlement figures and if there is any equity in any of the equipment. It is possible to refinance the equipment by ay of a sale and lease back, sale and hire purchase back and a loan and chattel mortgage. Which facility is best for you depends upon the written down value in your accounts and your preferred finance method.

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