Asset finance helps businesses to grow by providing lending for the purchase of company assets, such as tools, equipment, vehicles or furniture. Here are some of the main types of asset finance
- Hire Purchase – One of the most common types of asset finance, hire purchases enables a business to hire an asset from a leasing company over a set amount of time. Once the payments have all been made, the company owns the asset.
- Finance/ Operating Leasing – This enables a business to use an asset for a fixed period of time in return for regular payments, however the business will not have ownership of the asset at the end of the term.
- Asset Refinance – Asset refinance has become more popular in recent years and can help a business to free up cash by selling assets to a lender and then leasing them back. This provides a cash injection for the business and also lets it retain the use of its assets.
Different businesses have different requirements and there are lots of options available from a wide array of lenders – from the main commercial banks, through the smaller niche banks and the private, non-bank lenders.
Get in touch
You don’t need to be a commercial specialist to benefit from the demand for asset finance. By working with Brightstar you have access to our team of experts and our comprehensive lender panel, which covers the full spectrum, from high street to challenger and specialist lenders, including those that are not available on a direct-to-broker basis.
If you would like to learn more about how you can work with Brightstar to help provide commercial finance solutions to your clients, call our team on 01277 508959 or click here to enquire.
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