Asset Finance Solutions for Successful Business Growth
Whether you need new plant, equipment or vehicles to help your business grow, Senate Money has access to a range of commercial asset finance products to help you fund the new equipment or vehicles your business needs. Click here to see some case studies of how we have helped businesses with asset finance solutions.
How Asset Finance Supports your Business
Investing in new equipment and vehicles is a confident statement about the growth and future prospects of a business, and asset financing has the following benefits:
- It enables you to preserve cash flow and capital and generate income from your new assets while paying for them over a period of time.
- It has tax advantages.
- Flexible funding matching finance to the asset purchased.
Different Types of Asset Finance
There are several different types of asset finance. We always take the time to get to know you and your business so that we know exactly what sort of asset financing you need.
· Lease Purchase
Lease purchase allows you to take advantage of the immediate cash flow benefits of leasing. This asset finance funding solution gives your company the opportunity to buy the asset outright for a nominal fee at the end of the agreed term.
Lease purchase has tax advantages. Your business will normally be able to claim immediate capital allowances on the equipment with the interest element of the payments being tax deductible. You can choose the agreement terms and interest rate structure and tailor it to your business requirements, including the amount of initial deposit you wish to make.
· Finance Lease
Up to 100% finance may be available, minimizing any deposit or capital drain from your balance sheet. You agree the periodic rentals to be paid in return for the asset and at the end of the term you have the option to rent the asset for a nominal sum or to sell it and retain most of the proceeds. Your cash flow will be eased as VAT is payable on the rentals only, not the original purchase price of the asset.
· Operating Lease
This is form of asset finance is particularly suited to businesses that require an asset for a period of time, but do not want to actually own it. You can benefit from the use of the asset and the income it generates without the responsibility of ownership.
Rental payments can be tailored to match the income generated by the asset itself, or to suit your business cash flow needs. When the lease expires you will have the option to extend the agreement or simply return the asset to the owner, with no further liability.
Contact us About our Asset Finance Solutions
Contact us or call us on 01675 443878 for a free initial, no obligation chat. Based in Birmingham, and operating nationally, we can arrange an asset finance solution which is exactly what your business needs.