Grow your business with commercial asset finance
If you’re looking at growing your business but you don’t have the tools to do so, commercial asset finance could be the key to scale your business in the current climate.
As financial experts, we provide funding for the equipment you need for your business to grow without having to dip into your working capital.
For more information and financial advice on asset finance and your eligibility, apply now via the form and our team will get back to you.
What can asset finance be used for?
Hard assets:
- Cars and vehicles
- Agricultural and plant equipment
- Renewable energy and sustainable technology
- Medical and dental equipment
- Camper vans and motor homes
- Holiday pods/mobile homes/buildings
- Containers
Soft assets:
- Office equipment
- Computers and software, including phone systems
- Tools
- Hotel, pub and restaurant furniture.
What’s the difference between asset finance and asset refinance?
Asset finance involves obtaining finance to acquire new assets or equipment, whereas asset refinance is using existing owned assets to secure a loan.
Asset refinancing agreements are aimed at businesses that already own the asset and which now need to release some of the capital tied up in those assets. In these circumstances, the funder buys the asset from you and leases it back to you for an agreed period of time at an agreed monthly or quarterly rental.
Is my business eligible for asset finance?
If your business is meeting its financial commitments and expenses, then there’s a good chance that you are eligible for asset finance.
As there are different types of asset finance options available, we recommend seeking independent, specialist advice beforehand. At Cornerstone, we can support you with your decision by providing expert advice and guidance on the best interest rates and most viable asset finance options that suit your business.
A Leasing agreement gives a business full use of an asset for an agreed period, at an agreed monthly or quarterly rental. The funder will purchase the required asset, claim any available allowances or writing down allowances and pass the full benefit on within the lease rentals. Funders have different leasing plans, each designed to meet the requirements of specific circumstances. Get in touch to find out more about leasing agreements with Cornerstone.
The two types of equipment leasing are known as finance leasing and operating leasing. Paying cash outright for capital assets can be a signature drain on your working capital and waiting for cash from your receivables also restricts growth. Equipment leasing enables you to use the equipment without it damaging your cash flow.
Asset-based lending involves obtaining a loan secured against the value of assets owned by a business, such as inventory, accounts receivable, or machinery. The loan amount is determined based on the value of the assets used as collateral.
Hire purchase enables you to secure ownership of assets by paying in instalments over time. The cost of an asset can be spread over its useful working life and paid for out of the revenue it earns. Payment patterns can be tailored to suit your individual needs, generally involving a 10% deposit and all VAT paid upfront followed by a series of monthly or quarterly instalments. You can choose between a fixed rate or base rate hire purchase, depending on your financial requirements. Hire purchase is similar to equipment leasing, but your business owns the item.
Asset finance puts you in a position to get the equipment, technology or tools you need to operate and grow your business without affecting your cash flow.
Instead of tying up large amounts of capital in asset purchases, asset finance allows businesses to spread the cost over time, preserving capital for other investments or expenses.
Asset finance agreements can often be tailored to suit the specific needs of your business, with options for lease terms, payment structures, and end-of-term arrangements.
Asset finance enables you to access assets that may be beyond your immediate purchasing power, allowing you to stay competitive and take advantage of the latest technology or equipment.
Hear it from our customers
Hire purchase of motorhome
Speed was the essence for our customer who wished to purchase a campervan with 100% finance. Our support meant they has the finance of £47k within 24hrs.
Machinery for waste management company
Ahead of a new UK contract, our customer required multiple pieces of advanced machinery, with financing of up to £950k, to not only begin their operations but also to support their growth and scale their business.
Re-finance for digital design company
A digital design and cutting company refinanced a piece of machinery to enable them to take on additional commercial premises and expand their business.
- Finance from £10k (unregulated only)
- Low upfront investment
- Fixed repayments
- Quick access to funds
- Competitive interest rates
- Used vehicle finance with rates from 9.9%
- Flexible deposits and repayment terms
- Terms from 2-15 years, depending on type of asset
- VAT deferrals up to three months
- Vehicle finance available for both private and business customers
- Hire purchase, leasing and refinancing options
- Dedicated specialist team
