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If you own something that has economic value and has excellent future benefits. In that case, you can lend a handsome amount of money to support the expenses of your business from our top lenders.

Asset Finance

Content:

  1. Asset Finance – Explained

  2. How it works

  3. What we offer

  4. Is my Business Eligible for Asset Finance?

  5. Why should you choose 247 Business Finance?

  6. Pros of Asset finance

  7. Bottom Line

  8. FAQs

Asset Finance – Explained!

When money is borrowed to purchase essential assets for a business, such as office equipment, vehicles, or even property, this is referred to as asset lending. The lender has the right to seize the assets if the loan is not repaid.

Because the loan is secured by an asset, asset-based lending is considered less risky than unsecured lending (a loan that is not backed by an asset or assets) and, as a result, the interest rate charged is lower. Furthermore, the more liquid the asset, the less risky the loan and the lower the interest rate demanded.

For example, an asset-based loan secured by accounts receivable is considered safer than an asset-based loan secured by property because the property is illiquid and the creditor may find it difficult to quickly liquidate the asset on the market.

How it Works!   

Asset financing is borrowing money or taking out a loan against existing assets on a company’s balance sheet (such as investments or inventories). The company borrowing the funds must provide a security interest in the assets to the lender the company borrowing the funds. We offer a safe and simple alternative for your company to obtain working capital.

We at 24/7 Business Finance use our specialized knowledge to negotiate the best deal for our client’s unique circumstances. We don’t charge our clients directly and receive a commission from suppliers when a financial transaction is completed.

What We Offer

We typically offer a wide range of services to support small businesses in Manchester and help them save their cash flow problems. We strongly believe in the growth of small businesses and help them get the desired result by providing them with working capital. Our services include:

  • Advising our clients on the appropriate insurance coverage for their needs.
  • Explicitly describe the financial arrangements.
  • They were connecting loan applicants with lenders who could meet their needs.
  • Negotiate with lenders to obtain the best possible terms.

Is my Business Eligible for Asset Finance?

Getting asset finance is convenient with 24/7 Business Finance. You must be trading for 3 months minimum and have a maximum turnover. To ensure that your business is eligible for asset finance, please read below the eligibility criteria and apply for asset finance to ensure that your business is eligible for asset finance.

  • Your business is trading for 3 months minimum.
  • You must own a property or asset to apply for the asset finance.
  • The net value of your asset should be equal to or greater than the loan amount. 
  • Your business should have a minimum £25k annual turnover.   
  • You must be an owner or partner of the company.
  • Your business must be based in the UK. 

Why should you choose 247 Business Finance? 

We provide flexible conditions for small businesses to get the asset finance, i.e., without getting into overdrafts and regular appointments. By applying for asset finance at 247 Business finance, you can avail the following benefits:

  • Extend the lease 
  • Upgrade to a new asset.
  • Pay the outstanding nominal debt and take possession of the asset.
  • Get your loan approved within minutes.
  • Receive your amount within 48 hours of application. 
  • You can also go for monthly repayments (depends upon the lender’s agreement)
  • You can choose a customized deal tailored to your company’s needs.

Pros of Asset Finance

Pros

●      Asset-based loans are easier and faster to obtain than unsecured loans and lines of credit.

●      Asset loans typically have fewer covenants

●      Asset-based loans have lower interest rates than other funding options.

●      Asset-based loans are less risky because they are collateralized by an asset (or assets).

●      Many finance providers will allow you to make repayments over a period of time, rather than in one lump sum.

●      Asset finance allows you to maintain your cash flow more effectively.

Bottom Line

Making certain that your company has access to all of the equipment it requires to function is a critical responsibility. The cost, on the other hand, is frequently an impediment. However, rather than burning a hole in your pocket to support an upfront payment, there are other, more cost-effective options available if you know where to look.

The Alternative Finance industry is enabling an increasing number of business owners to obtain the equipment they require to support their operations. With so many different products to choose from, how can you be sure you’re getting a good deal from a reputable lender? So, to get the answers of all the ifs and buts contact us and we will guide you through the process.


Asset Finance Services

FAQs

  • What is the interest rate of asset finance?

The interest rate depends on the amount you need, how long you have been trading, and how long you need to repay the loan. To know more about the interest rate, contact us at [email protected]  

  • What are the business advantages of asset finance?

You can avail of asset finance at any point and run your business smoothly. You can deal with cash flow problems using the amount, and it’s not mandatory to use the money on one thing. 

  • Do I have to provide additional security for asset finance?

In most cases, the loan is secured by the item being acquired; however, in some cases, you may be able to use your current fixed assets as security to assist raise the financing you require.

  • How to apply for asset finance?

Click here to apply for asset finance and get your fund released within 48 hours.

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