For businesses to grow and flourish, they need to have the right tools at their disposal; from the correct equipment, to the perfect premises from which to operate. Asset finance is a great way of giving you access to these tools in a flexible, affordable way that suits you and your business perfectly.
At Acorn Business Finance, we’ll work with you to establish your needs and identify which forms of asset finance are right for you, looking at the long-term picture for you, your workforce and your business. We understand that a one-size-fits-all approach simply doesn’t work when it comes to lending options, offering a range of asset finance products to reflect the differing needs of our clients.
Hire purchase is a great option for businesses looking to buy items that they’ll need for the long-term, but need a flexible option to aid cash-flow in the meantime. Hire purchase allows you to purchase items by paying in regular instalments over a given period of time, usually requiring an up-front deposit. Tailored repayment terms give you the control and flexibility you need to suit your cashflow, giving you the peace of mind that you’ll own the items at the end of your given hire purchase term.
Lease rental, or equipment leasing, is an effective means of businesses accessing expensive items that they need in order to grow, without having to bear the brunt of a large up-front cost. Unlike hire purchase, you don’t own any items that you acquire for your business through lease rental, but effectively rent them for a given period of time. Fixed monthly payments enable you to budget accordingly to aid cashflow and forecasting, with the option to return the item or continue your lease at the end of the agreed term. We also offer the option to take on the title of the leased asset for you at the end of your agreement, making things as easy as possible for you should you decide not to continue with your lease.
Refinancing uses an existing asset as security against a new loan, whether that be an asset you or your business owns outright, or an item you’ve acquired through hire purchase. An effective means of debt consolidation, refinancing can also be a particularly useful way to acquire improved loan terms, using released equity to pay off existing loans in exchange for new, lower interest rates or more attractive repayment plans. With multiple refinancing options available, we’ll work closely with you to establish how refinancing could best benefit you, making the most out of your assets in order to help your business flourish.