Businesses may wish to refinance assets for many reasons. It could be to help with the consideration of a Management Buy Out, it could be to raise a deposit for a new capital investment or it could be to help with working capital if cash is a bit tight. XL Business Finance has been helping businesses for over 10 years to refinance their existing plant and machinery.
Asset refinance is a very specialist market and one that is not traditionally catered for by the high street banks and finance companies. Therefore it is important to know which finance companies specialise in what sector in order to get the best possible value against your kit. There are probably only half a dozen asset lenders operating in the market today and although they are very similar in terms of pricing they have their own niche areas and slightly differing ways of doing things.
As with any asset refinance deal the most important thing is to get a accurate list of kit together. This should include age, make model, description and condition of the kit. Any additional features or enhancements should also be noted to ensure we get the best possible valuation. Depending upon what the kit is we can then go to a variety of different funders that all have slightly differing ways of valuing the kit. It maybe that we have to go to the best valuation in order to make a deal happen. Remember that we can also include kit that is already on finance because it might be that there is some equity that can also utilised.
