5 WAYS ASSET FINANCE CAN HELP YOUR BUSINESS
Asset Finance is proving to be a consistently more popular choice to get funding for your business, yet still business owners aren’t aware of its benefits, how to apply or how it works.
So here are 5 ways that Asset Finance can help you and your business…
FIXED COSTS: Once the proposal has been received and all checks have been done, on acceptance a monthly payment will be decided based on amount needed, length of the deal and what can be afforded. This cost is fixed throughout the agreement length so there isn’t going to be any surprise fees or additional costs added.
CASH FLOW: There is no lump sum payment to make all in one go. Payments are spread into manageable amounts and so cash can be spent across other areas of the business to relieve cash flow and stress!
QUICK TURNAROUND: With all applications, searches and payments being done in house, the process can be completed very quickly. For example, a proposal can be submitted Monday morning, accepted in the afternoon and docs posted out. Docs can be signed and posted back on the Tuesday. Docs received on Wednesday and then can be paid straight out. It’s as simple as that!
LONG OR SHORT TERMS: Asset Finance deals can be paid over 12 months to 60 months, depending on the deal and amount required. If you’re in need of a small amount for a short term situation, for example a tax repayment, a 12 month loan can be agreed. For more expensive assets that are going to be in place at the business for a while, a longer term deal may be the best option. Again, this all goes to help cash flow of the business.
BANKS SAY ‘NO’ A LOT: Many small businesses are turned down for loans by the banks, the banks are reluctant to lend to these businesses and as a result they don’t get chance to grow and thrive. With Asset Finance there is already security attached – capital is raised on fixed assets such as equipment or vehicles which doesn’t happen on a bank lend. However, a lot of business owners still aren’t aware of other funding options besides the banks and don’t realise what the alternatives are.
Hopefully this has given you a little more insight into the world of Asset Finance and the benefits it can have.
If you’d like any more information about how we can help, email to email@example.com and a member of our team will get back to you.