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Asset finance

Asset finance

Spread the cost of equipment, vehicles and machinery, with up to 100% of the cost funded over 2 to 7 years. We arrange hire purchase, leasing and refinance of assets you already own.

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No credit search and no upfront fee.

of asset cost
Up to 100%of asset cost
repayment terms
2 to 7 yearsrepayment terms
structures we compare
HP, leasing, refinancestructures we compare
the asset itself is the main security
Asset-securedthe asset itself is the main security

What is asset finance?

Asset finance lets a business acquire equipment, vehicles or machinery and pay for it over time, instead of paying the full cost upfront. The asset itself is the main security, so lenders can often fund up to 100% of the cost over terms of 2 to 7 years. Asset refinance works the other way round, releasing cash from assets the business already owns.

Types of asset finance

Hire purchase (HP)

You pay for the asset in instalments and own it once the final payment is made. It suits assets you plan to keep for their working life.

Finance lease

The lender owns the asset and you rent it for most of its useful life. At the end you can usually extend, sell the asset to a third party on the lender's behalf, or return it.

Operating lease

You use the asset for part of its life and hand it back, with the lender taking the residual value risk. It suits assets that are upgraded regularly, such as vehicles and IT.

Asset refinance

You borrow against equipment you already own, either to release working capital or to replace more expensive borrowing.

Talk it through

Tell us what you need and we will search 650+ lenders for indicative terms, with no upfront fee.

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Asset finance

How it works

  1. 1

    Choose the asset

    And get a supplier quote, or list the assets you want to refinance.

  2. 2

    Pick the structure

    Hire purchase, lease or refinance, based on ownership, tax and cash flow.

  3. 3

    Lender review

    The lender assesses your business and the asset, and may value used or specialist kit.

  4. 4

    Documents signed and supplier paid

    The lender pays the supplier, or pays you for a refinance.

  5. 5

    Repay over the term

    Typically monthly, over 2 to 7 years.

Who it suits

What lenders look at

The asset
Type, age, resale value and how easily it could be recovered and sold.
Affordability
Whether your cash flow comfortably covers the repayments.
Trading history
Recent accounts and management information.
Deposit
A deposit is not always needed, but can improve terms on specialist or used assets.
Existing borrowing
Other lenders' security and any existing finance agreements.
At a glance

Typical terms

Typical terms
FundingUp to 100% of asset cost
Term2 to 7 years
StructuresHire purchase, finance lease, operating lease, refinance
AssetsNew and used vehicles, plant, machinery, equipment and technology
SecurityPrimarily the asset being financed
PricingPriced deal by deal

All figures are "up to" and subject to status and lender approval.

Our process

How GBF runs the process

We gather your supplier quotes or asset list, recent accounts and current finance schedule, then work out which structure fits your ownership, tax and cash flow position. We approach suitable lenders, compare indicative terms side by side and manage the process through to the supplier being paid. Where you have significant plant and machinery alongside receivables and stock, we will also look at whether an asset based lending facility would give you more flexibility. You should take your own tax advice on how each structure is treated.

  • One senior adviser from first call to completion
  • A credit paper lenders take seriously
  • Indicative terms compared side by side
  • £0 upfront fee
Related facilities

Related facilities we arrange

Asset based lendingPlant and machinery up to 85% of NOLV within one revolving facilityBusiness loansTerm loans and revolving credit facilitiesGrowth Guarantee SchemeGovernment-backed facilities, including asset financeInvoice financeRelease cash tied up in unpaid invoicesAsset finance guideA fuller explainer on structures and costs
FAQs

Asset finance: common questions

How much of the cost can asset finance cover?

Up to 100% of the asset cost, depending on the asset, your business and the lender.

What is the difference between hire purchase and leasing?

With hire purchase you own the asset after the final payment. With a lease the lender owns the asset and you pay to use it.

Can I finance used equipment?

Yes. Many lenders fund used assets, although age, condition and resale value affect the terms.

What is asset refinance?

Borrowing against equipment you already own, to release working capital or replace more expensive debt.

How long are asset finance terms?

Typically 2 to 7 years, usually matched to the working life of the asset.

Is GBF a lender?

No. Growth Business Finance is a commercial finance broker and debt adviser. Finance is subject to status and lender approval.

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