Asset Finance enables companies of all sizes to secure funding for the acquisition of assets such as vehicles, machinery and other equipment required to grow their businesses or improve productivity and profitability. Asset Finance is the fastest growing form of business lending and offers a flexibility that traditional sources, such as bank overdrafts, can’t compete with. Asset Finance facilities are tailored to suit the needs of individual companies. Flexibility by way of variable deposits and repayment periods are a standard feature and will relate to the asset that the company needs to acquire. Asset Finance allows potential borrowers to use “credit lines” which run alongside their bank overdrafts facilities without putting a strain on the relationship that they have with the bank. Asset Finance is essentially a complimentary facility as opposed to a competitive facility. Asset Finance can often be a smarter option in difficult economic times rather than using up that much needed working capital. Asset Finance funders use the asset itself as the primary security as opposed to taking a costly charge on residential property - a far more equitable way of considering a risk.
Asset Finance helps ease your cash flow with regular set monthly repayments over a fixed period of time; so you're always in control. Asset finance is not limited to new assets; it can be used to purchase used vehicles (HGV’s, LCV’s and passenger) along with plant and machinery and other equipment that is core to the business activity of the company
At NorthFinancial we have a long history in commercial finance and we regard ourselves as industry specialists in many sectors such as Engineering, Construction, Manufacturing & Road Freight Transport - so you can be sure you’re in good hands.
The sectors that we operate in include, but is not limited to -
· Plant & Machinery · Business & Personal Motor Vehicles · Commercial Vehicles and Trailers · Agricultural Equipment · Material Handling · Waste Component and Recycling · Office Equipment · Computer & IT ( including software package finance) · Medical & Dental Equipment · CCTV