What is Asset finance and How Can It Benefit You?

Business Asset Finance or Equipment Finance allows businesses to purchase new or second hand equipment or machinery via Hire Purchase or Finance Lease facilities. It is also possible to use business asset finance to refinance existing plant and machinery.

XL Business Finance offers a viable alternative to high street banks and as such we view things from our customer’s perspective. We understand the challenges many businesses face dealing with the high street banks and thankfully there are many leasing and hire purchase companies providing viable alternatives.

Examples of assets funded to date include Printing equipment, Forestry equipment, Engineering equipment, Haulage, Buses and coaches, Computers, Production lines and Scaffolding.

There is a saying in the industry that if a piece of equipment is durable, identifiable and removable then it can be financed via traditional hire purchase and finance lease facilities.  We welcome enquiries from just about any type of business no matter how strong or weak the crediting rating.

We have organised funding for PLCs to sole traders, new start businesses to businesses trading for over 100 years. We are able to source the very best rates for blue chip companies and we have also been able to structure funding for loss making or insolvent businesses.  Benefits of Asset Finance include:

• Releasing tied up cash – You won’t have to draw on cash reserves that may be needed elsewhere in the business
• Opens additional credit lines – asset finance complements the cash resources you already have, as well as other bank credit lines like overdrafts and loans
• Delivers funds efficiently – The application process is simple and fast
• Fixed costs eliminate uncertainty – the rental of the asset and the payable interest are fixed for the duration of the contract

For further information and advice, please contact us today.