Put simply, Asset Finance is the provision of credit or leasing facilities to fund your acquisition of business assets.
Security is primarily taken on the asset concerned and is generally a stand-alone facility. The cost is spread over a period up to the useful life of the asset.
Assets that can typically be funded in this fashion are generally of a tangible nature with a readily available resale market. Thus, assets with a slow resale market or high degrees of specialisation are generally better funded by alternative methods and some of Sterling Capital Reserve's other commercial finance services may be able to help you
In asset finance it generally applies to agreements with private individuals, sole traders, partnerships and unincorporated bodies where the amount financed is £25,000 or less. Under credit agreements, the £25,000 limit relates to the credit advanced. This is therefore the price paid plus VAT if applicable, less the deposit or advance rentals paid. It has no relation to the total amount paid, interest or fees.
Under lease agreements, the £25,000 limit relates to the total of rentals due under the agreement. Contact us online for more details or call 0800 0735353.
Use our Online Enquiry Form on the right hand side of this page or Contact Us on 0800 0735353 and let our professional team find you a competitive UK Commercial Asset Finance Deal.
