Asset finance is a secured lending agreement where a lender will provide funding against a specific asset. It is an alternative solution to the traditional bank loan and is typically more beneficial as it offers better tax advantages and an easy way of budgeting payments in accordance with cash flow requirements.
Many businesses find asset finance incredibly beneficial, allowing them to acquire business assets and then spread out the cost to suit their budgeting needs. Thanks to this it is a popular choice for all business types.
In recent weeks we have seen enquiries rise for asset finance. Typical examples have included a compressor for an industrial machine shop and a complete new fit out for a restaurant that was in need of an upgrade. In the current COVID landscape, businesses have often had to diversify and purchase new assets. For example, many delivery drivers are now being asked to deliver more products, often within the food sector, so refrigerator vans are needed. As a result, we have seen a number of new enquiries arise for these types of vehicles.
However, it is not just the normal run-of-the-mill business assets that are needed or indeed financed. Business owners are actually investing more in motorhomes and camper vans which they can use for staycation purposes and asset finance is the perfect solution to raise the necessary capital. Farming needs will also continue to grow and again we have seen an influx of enquiries for agricultural equipment and the need for new tractors.
Our most interesting project recently though was an asset finance deal which we arranged for a company helicopter. A necessary form of travel to allow the business to undertake essential trips across the UK.
If you are in need of a new helicopter or just some new IT equipment we are confident that an asset finance deal could fulfil your needs. To speak with one of our team please call us on 01993 706403 or e-mail firstname.lastname@example.org.