This is the most typical and readily available credit facility.
Small Business Hire Purchase, in basic terms, you source the asset and negotiate the purchase price with the supplier. You pay a deposit to the finance company, typically 10-20%, and the finance company then takes title direct from the supplier.
Even though you are technically not the owner of the asset during the agreement, subject to eligibility you can still claim the writing down allowances as though you had made the purchase outright.
At inception you would usually be required to pay a documentation (or administration, arrangement) fee of £100-250 and the full purchase VAT. You will then, subject to eligibility, recover the VAT yourself. You repay the outstanding amount and interest in pre-agreed instalments over the period of the agreement.
At the end of your Small Business Hire Purchase agreement you obtain title through the payment of an 'Option to Purchase Fee'. This fee is often a token gesture to transfer title, but some finance companies do still charge a significant fee of £10-150. Small Business Hire Purchase agreements can be based on a fixed or variable rate, and the monthly commitment can be reduced by the inclusion of a balloon. Use our Online Small Business Hire Purchase Contact Form for more Small Business Hire Purchase details or call 0800 0735353.
Sterling Capital Reserve are specialists in all forms of Small Business Asset Finance from Small Business Asset Capital Finance to Small Business Computer Asset Finance. This service is also called Small Business Asset Funding or Small Business Asset Based Finance.
Asset Finance covers Small Business Contract Purchase like Small Business Vehicle Finance, Small Business Hire Purchase, Small Business lease purchase or Small Business Leasing and Small Business Leasing and Asset Finance.
Asset Finance services can also be used for Small Business Capital Raising.
UK Business Hire Purchase | UK Commercial Hire Purchase | UK Online Business Hire Purchase | Poor Credit Commercial Hire Purchase | Adverse Credit Commercial Hire Purchase | Non Status Commercial Hire Purchase | Small Business Hire Purchase | Best Value commercial Hire Purchase | Bad Credit Commercial Hire Purchase | Competitive Commercial Hire Purchase
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.
