Refinance Assets: Use the asset you own to finance the assets you need by releasing funds you have already invested to work for you a second time
Asset Refinance allows you to raise money on existing assets you own to finance new assets while still having full use of the existing assets. Asset refinance can be a cost effective solution if you need to fund new equipment, buy some stock or withdraw money from the business.
How it works
By providing your existing asset as physical security, lender risk is reduced so interest rates can be lower than non asset backed lending. The lender will have the right to take the asset but they will only do so if you don’t keep up repayments.
Most assets that your business owns can be used for refinance, including premises, vehicles and machinery.
In exchange for cash paid to you, the finance company will buy the asset from you at an agreed cost based on its current value. You then buy the asset back from them, under a new finance arrangement.
Your carry on using the asset without interruption, and at the end of the agreement, it becomes your property again.
If you are having challenges making payments on an existing Asset Finance arrangement, we can refinance it for you and pay off what you owe under the existing arrangement while setting up a new one.
Want to know more? Get in touch today and let us guide you through your options. We know all the right lenders and we treat every application on a personal basis so that your search is tailored to your requirements. That way, you can be assured we’ll find you the best rate and the best financial product for your needs.