Asset finance is a financial solution that allows businesses to acquire assets such as machinery, vehicles, technology equipment, and more without paying the full purchase price upfront. Instead, the assets are financed through loans, leases, or other arrangements, with repayments spread over time.

A wide range of assets can be financed, including but not limited to vehicles, manufacturing equipment, office furniture, IT infrastructure and agricultural machinery.

The main types of asset finance include hire purchase, finance lease, operating lease, and asset refinancing. Each type offers different benefits and structures, catering to various business needs and financial situations.

Lenders typically consider factors such as your business’s creditworthiness, financial stability, the value and condition of the assets being financed, and your ability to repay the finance. Each lender may have specific criteria they use to assess applications.

The approval process for asset finance can vary depending on the lender, the complexity of the application, and the type of assets being financed. It may take anywhere from a few days to a few weeks to receive approval.