Providing an invoice is no more than 3 months old it is possible to finance recently purchased assets at prime rates via a standard hire purchase agreement . This was the case for a packaging business that purchased two finishing machines at a total of £5ok out of working capital. In hindsight due to cash flow pressure the kit should have been financed at the time of purchase from the supplier. XL Business Finance organised a retrospective hire purchase agreement with a prime funder at prime rates even though the kit had been invoiced and paid for. It is important to do this within 3 months of original purchase as specialist refinance companies will need to be considered.
Tags: hire purchase, sale and HP back
