FAQs

Simple.  Just contact Tim and he will talk you through it and visit you if you feel there is an opportunity worth progressing.

Yes, this is called refinancing.  Basically a funder will assess what they believe the asset to be worth, taking into account its age and expected lifespan.  They will take the title to the equipment after paying you the agreed amount and you effectively ‘rent’ the equipment until the end of the agreement and final payments.

Most finance agreements are called fixed rate agreements whereby the amounts to be paid remain constant during the life of the agreement.

In many cases, yes.  This is particularly true of ‘harder’ assets such as transport and machinery.  This is all subject to approval of course.

The answer to this is almost limitless.  Asset finance can be relevant from as little as £10k right up to many millions dependent on the strength of the proposal.

The most basic information required tends to start with your last years’ accounts and up to date management accounts.  Coupled with the supplier quote for the project in hand , this allows a funder to get a picture of who you are and the project in question.

Generally we arrange all kinds of finance to limited, LLP or PLC companies in the food and drink industry due to Tim’s background.  This extends to all kind of other projects and industries when he is recommended by his customers to their business friends and acquaintances.  Or when people find us on the web!

Asset finance concentrates on the asset itself and not taking a ‘charge’ over the rest of the company in a way that a commercial mortgage usually does.  The security of the funder is solely within the asset and sometimes backed up by a personal guarantee.  Business loans are available for developing your business but, as there are rarely solid assets available to secure the loan, personal guarantees normally apply.  Overdrafts are becoming virtually extinct these days and are being replaced in the main by invoice finance.