What is Asset Finance?
Asset finance enables businesses to obtain funding for the purchase of assets needed to run and grow their business.
Hire Purchase
Funding is normally by way of a 'hire purchase agreement' and you can borrow from as little as £1,500 up to £500k. Rather than purchasing the asset with a large upfront payment, which can hurt your cashflow, asset finance eases the burden on your cashflow by spreading the regular payments over a period of time. This means you finance the assets from your revenue as you put the asset to work, making budgeting easier. There may even be some tax advantages, which your accountant can advise you on.
Pricing
We finance coin-operated machines by way of 'hire purchase'. This requires a deposit equal to the VAT element
of the equipment cost and is available over a period from 3 to 36 months depending on the type of equipment being
financed. Ownership of equipment passes upon final payment.
Finance Leasing
Another form of asset finance is finance leasing. This is a flexible, tax-efficient way for a business to utilise business assets without using its cash reserves, similar to hire purchase. However, with finance leasing the bank owns the assets you purchase. You can normally sell them on the bank's behalf at the end of the term and keep most of the proceeds or keep the asset for a nominal annual sum. Rentals are paid to the bank throughout the term of the agreement and any VAT due on the asset is payable on the rentals rather than the purchase of the asset. The funding is on balance sheet; a Finance Lease can be suitable for businesses of all sizes and all types of assets.
Coin-operated Machines
These comprise:
- Skill-based gaming machines known in the industry as SWPs (skill with prize)
- Slot or fruit machines known as AWPs (amusement with prize)
- Arcade video and gaming machines found in coastal and inland arcades
- Other coin slot equipment such as digital jukeboxes, change converters, penny pushers, air hockey tables and pinball machines
Prize Cranes, Redemption and Novelty Equipment
For new equipment, we may be prepared to lend the full value of the invoice excluding VAT.
Vendor Interest Free Credit Arrangements
In partnership with some suppliers we have been able to provide interest free credit facilities
with no deposit and an initial payment holiday of up to 2 months. This has been particularly
popular with end users as it does not incur additional costs, it can provide up to 2 months use
of the equipment before payments commence thereby producing initial cash flow, and the right
equipment can be self financing resulting in no capital outlay
CALL 01733 362486