Asset Finance customer FAQs

You can borrow from £15,000 to £5 million.

We can consider applications from experienced businesses including sole traders, partnerships, limited liability partnerships and limited companies.

We will treat your application on its own merit, taking into account the strength of your business, your experience and plans for the future, to tailor finance to your needs.

Unlike overdrafts, asset finance is not repayable on demand. Additionally, it is a form of secured loan so lending criteria will be different compared to a bank loan.

Asset Finance has a range of flexible products to suit your financial situation when acquiring a business asset.

On new assets, Loan to Value (LTV) can be up to 100% of the invoice amount excluding VAT. On second-hand assets, LTV can be up to 90% of the value.

It is not essential but we do like to establish a rapport and an understanding of your business; visiting you helps us to do this. We are more likely to visit you if you are borrowing a larger amount.

The assets must be fit for purpose, in a new or acceptable condition.

We will check your financial background, current business performance and your credit report with credit reference agencies.

We still may be able to help you if you have made some late or missed payments. These will need to be investigated so we can understand why this was.

As a responsible lender, we want to ensure that you can meet the loan repayments.

Loan repayments are met from cashflow not profits and seeing your latest bank statements helps us to assess whether your business is generating enough money to repay the loan.

It also helps us to see how you conduct your account. We would not expect to see bounced cheques or returned direct debits but appreciate that sometimes this happens and would require a good explanation for such occurrences.