When buying a capital asset for your business, one of the best ways to fund it is to use asset finance – funding secured against the asset itself.
Whether you are looking for large industrial machinery, commercial vehicles, or even furniture or IT equipment, this finance could be a viable option for your business.
Rates for asset finance tend to be better for more durable assets, such as machinery or equipment rather than for those which are more transient, such as furniture or IT equipment. Lenders will often give preferential rates for established businesses compared to new enterprises.
However, there are funding options available to businesses with a wide variety of needs, so it is often worth investigating. The experts at RedSky will be happy to talk you through the options available and help you apply for the right funding to suit your business.
Funding to buy capital assets
Asset finance is available across all sectors, covering a very wide range of purchases of all sizes. It is often used for vehicle finance, but can be ideal for larger or smaller assets.
Typically it can either be hire purchase (HP) or leasing. It is a great way to secure business growth when there is a lack of alternative security for other loans and sources of finance.