In some industries, you may need to purchase a major asset (or a group of assets) be it machinery for manufacturing, or a fleet of vehicles for your everyday business activity. Unsurprisingly, purchases of this type require a high level of upfront expenditure, which depending on the cash flow of your business, you might not be able to afford. That is where forms of asset finance can play their part.
The concept of asset finance is rather simple – instead of paying to purchase the asset up front, the payments are spread over an agreed time period, varying from a few months to a few years, depending on the nature of the business and the type of asset involved.
So, should your business use Asset Finance as a way of raising funds? Well, that depends on the business and what you are looking to do. For any organisation, commercial finance is a bespoke process. The type of finance which is right for you and your business might differ for another business. That’s why at ASC Finance for Business, we arrange an in-depth discussion with each business looking for finance, to help understand which finance is right for them, and how best to proceed in applying for finance.
To discuss Asset Finance, or other types of finance for your business with an experienced director, with no obligation, speak to the specialists today at your local ASC office.