The challenge most businesses face is how to ensure they maintain the very highest levels of operational efficiency. For the majority this will be by ensuring they have access to state-of-the-art technology and latest equipment. Of course, the one barrier to this is maintaining a good level of capital that not only allows the business to keep up with day to day cashflow demands but also funds the acquisition of the most up to date and technologically advanced business assets.
Asset finance is the ideal solution to support businesses of all types, it can be a tailored solution to fulfil all operation needs. Any type of business asset can be financed in this manner with the most popular being:
- Hire purchase
- Equipment leasing
- Finance leasing
- Operation leasing
- Asset refinancing
In essence asset finance will work by allowing a business to purchase or lease the latest equipment, without having to affect cash flow levels. The other clear benefit is the flexible payment plan as repayments can be fixed at a monthly spend over a specific term. If we compare asset finance to the traditional bank loan or overdraft facility it also works out to be far more favourable. The application process is much simpler and approval rates are higher.
Other advantages with asset finance are the options you have available at the end of the term. Depending on the individual circumstances you can opt to extend the deal to refinance the remaining balance of the asset, explore a new deal and purchase new equipment or simply look at different renting options. All the possibilities available continue to ensure the business cash flow remains strong.
Asset finance is an ideal solution for all businesses. Whether the need is for new manufacturing machinery, IT equipment, telephone systems, catering equipment or a fleet of commercial vehicles there is an asset finance solution for every scenario.
If you are looking from some new business assets and want to explore what financial options are available our team would be delighted to help. To find out more please call us on 01993 706403 or e-mail enquiries@ngifinance.co.uk.