Business equipment and vehicle funding – asset finance
Growing a business often requires equipment and vehicles.
Saving cash and not borrowing is a low cost option but this can often take a long time. And being without the asset for that amount of time can damage growth and future profits.
So, asset finance (generally a lease or hire purchase) is the ideal way to get the equipment, technology, vehicle or plant into your business, when you need it, not when you can pay cash for it!
Asset finance gives your business the flexibility to get the equipment you need to grow, when you need it and for as long as you need.
With the range of asset finance lenders open to us at Acorn.finance we can fund a huge variety of both new and used equipment or vehicles including;
We’ve been arranging funding since 1997 and, if you’ll forgive us for boasting but we think we’re quite good at it!
In fact – 7 x UK Best Broker Awards back us up in that assertion, so does our 5 star customer feedback.
So -for your buy to let mortgage needs, or anything else funding – make sure you use a broker you can trust.
- Vehicles for the business – from cars to buses & vans to lorries.
- Manufacturing equipment
- IT and technology (including software)
- Catering equipment
- Much else – almost anything your business needs!
- Aircraft, yachts or other marine craft.
It’s also possible to raise finance against business or personal assets for working capital, of course all of the above but also;
- Classic cars
For more information or to get a personal quotation contact us now
What can I use a business loan for?
For cash-flow, business development, stock or growth, a business loan could be ideal.
In fact – so long as it’s legal you can probably raise funds to do it!
Alternatives to a Commercial Mortgage
In terms of the interest rate and repayment profile the mortgage is generally the best option for financing property.
Of course there are situations when a business mortgage won’t be available – you can see the general requirements for a successful mortgage application below.
How to get a business loan
The general requirements for a successful commercial mortgage application are straightforward and similar across all lenders;
- Who is the applicant?
- What are the funds for?
- How will the funds be repaid?
Different lenders will set different height “bars” for each of the three requirements. For instance some lenders might require significant business experience or set a high debt servicing cover requirement (DSCR – profit compared to mortgage payments.)
For more information on how to get a business loan click here. (Coming soon)
Bridging loans for businesses
There is a variety of circumstances which could make a business mortgage unavailable, these might be around the applicant, the business or around the property.
Bridging finance can be used to meet a number of these areas;
- Property improvements.
- Starting up a business in the property.
- Business development.
- Short term funding needs for other reasons.
A more flexible alternative to a commercial mortgage, especially a remortgage could be a business loan. The requirements for a business loan might be less stringent, especially around the property.
Because the repayment term of a business loan (especially an unsecured loan) will be much shorter – the repayments will be much higher, even for a smaller amount (Using our commercial mortgage calculator compare a 25 year term to a 5 year term and see the difference in repayments.)
Contact us now on 0808 164 2364
Acorn.finance – 4th Floor, Silverstream House, London. W1T 6EB