Hire Purchase
A contract where you acquire the machine by making an initial deposit followed by regular instalments over an agreed period. Unlike lease hire, with hire purchase you gradually gain ownership of the asset, and once the final payment is made, ownership is transferred to you.
This method is beneficial for those who prefer to own the asset at the end of the term whilst spreading the cost over time. Hire Purchase combines the benefits of using the asset immediately with the eventual benefit of ownership. It is your responsibility to cover any maintenance, servicing, or repairs to the machine to manufacturer warranty standards over the term of the contract.
During the contract period should you wish to upgrade, the asset can be off set against any outstanding finance. Any equity can be used in the purchase of a new machine or retained.
- Fixed payments: fixed interest rate along the whole life of the contract
- Flexible: choose a repayment structure that suits your business.
- Ownership benefits: claim available capital allowances.
- Freedom: Hire Purchase imposes no usage restrictions.
- Full ownership: once all payments are made you have purchased the machine.
Lease hire
Long-term fixed agreed monthly payments to hire the machine with an upfront deposit. The machine remains our property for the length of the lease terms, there is no ownership of the machine. It is your responsibility to cover any maintenance, servicing, or repairs to the machine to manufacturer warranty standards and as agreed in the hire terms.
- Easy Start: Lower initial cash outlay, VAT is added to each payment rather than being paid upfront.
- Tax Benefit: Your lease repayments are business expenses; you may be able to offset them against taxable profits.
- Easy Budgeting: Fixed interest rates.
- Control: Once the primary lease period is complete you can return the equipment or continue to lease for an annual agreed rental.
Contract Hire
A long-term rental agreement where you pay a fixed monthly amount over an agreed period. The agreement includes costs like maintenance and servicing, making it an attractive option for businesses seeking to manage expenses predictably. At the end of the contract, simply return the machine without any obligation to purchase it. This allows you to use up-to-date equipment or vehicles without the significant upfront costs of buying, keeping your operations flexible and current with the latest models.
- Easy on your budget: low rental payments
- Attractive Pricing: lower upfront costs
- Tax benefits: offset rental fees as a business expense.
- Accurate budgeting: contract hire includes maintenance for predictable running costs. Equipment is returned at the end of the hire period eliminating residual value risks.
Business Loan
We offer business loans to help businesses thrive and grow. Whether you need funds to start a new venture, expand your operations, purchase inventory, or manage cash flow, we provide various loan options tailored to your business needs. A fixed loan over a fixed period of time. Our goal is to support your business’s growth and stability, ensuring you have the necessary capital while offering flexible repayment options to fit your financial situation.
- Control: You control the payments to your suppliers.
- Flexibility: Finances assets not suitable for Hire Purchase or Lease.
- Support start ups: Aids businesses to get things up and running.
- Costs less: can be cheaper than a business overdraft.
Hire Purchase Back
A financial contract where your business will sell an asset it owns to use and then immediately leases it back through a hire purchase agreement. This allows the business to free up capital tied in the asset while still retaining its use. The business makes regular payments over an agreed period, with full ownership transferred back at the end of the agreement term. Hire Purchase Back is useful for improving cash flow, as it provides immediate funds whilst ensuring the business can continue using essential assets.
- Cash Injection: the cash released through the agreement goes directly into your business, providing you with valuable working capital.
- Enhances your cash flow: simplify your budgeting through fixed rate rental payments.
- Flexibility: Flexible repayment structures mean this plan can be fixed to suit your business needs.
- Reduced Risk: Sale and HP back reduce your risk. By financing your own equipment, you know its fit for purpose.
Re-finance
Replacing an existing loan or credit agreement with a new one, to take advantage of better terms such as lower interest rates, reduced monthly payments, or a different loan duration or structure. This financial strategy can apply to various types of loans, including loans on machinery or business loans. By refinancing, you can improve your financial situation by reducing debt, freeing up cash flow, or accessing equity in assets.
- Cash Injection: Give your business the flexibility to use the money to buy other assets, giving your business a wider choice of options.
- Continued Usage: Uninterrupted use of the asset keeping business efficiency to a maximum with no down time.
- Restructuring: Refinancing can assist with restructuring your entire company enabling you to utilise capital in a new direction.