Asset Finance For Your Business

Assets are essential to the running of your business, allowing you to deliver goods and services to your customers and enabling you to meet your ongoing financial obligations, explains the website NI Business.

Your business assets may range across the full spectrum of items from the basic office equipment used in the administration of your company to the plant, machinery and vehicles used in your business operations. In accounting terms, assets may be divided into longer-term so-called fixed assets and short-term assets. Whether they are short-term or fixed, however, there comes a time when your business assets need replacing.

Replacement of major items such as your essential assets may be fraught with difficulties if you are to avoid overstretching your business finances – especially in an overall commercial climate when managing the financial success of your company is challenging enough.

Business asset finance

Business asset finance offers a solution to just such a challenge by allowing you to spread the cost of essential investment in a whole range of assets – thus easing the strain on your ongoing company finances.

Here at Forza Finance, we are specialists in arranging a wide range of finance options for businesses as diverse as agriculture, marine, aviation, and construction, to name just a few. We provide business asset finance options for short-term items such as office equipment or vehicles to major fixed assets such as specialist plant and machinery or specialist vehicles and vessels.

Of course, you have the alternative of raising short or long-term business loans in order to acquire whatever assets you may need but business asset finance typically offers another option that avoids major capital investment upfront – and the risks associated with an outright purchase from the word go.

Business asset finance options

At Forza Finance, we aim to offer a flexible and bespoke range of options in the way you arrange your business asset finance, including agreements such as:

Hire purchase

  • where you typically pay an initial deposit (generally amounting to around 10% of the purchase price of the asset), followed by equal monthly instalments covering the balance of the purchase price over an agreed term usually of between one and six years;
  • some hire purchase agreements may spread out the cost of the purchase still further by incorporating a final balloon payment – so, reducing the cost of your monthly instalments;
  • your completion of the purchase comes with the final payment that is made;

Asset refinancing

  • few businesses are likely to need to replace all of their short term and fixed assets at the same time;
  • those in which you have previously invested and continue to enjoy a useful working life may be used as collateral for borrowing the funds necessary to replace older assets;
  • thanks to the security you are offering by way of existing assets, the rate of interest payable on any borrowing for the purchase of replacement assets may, therefore, be reduced;

Equipment leasing

  • of course, your business may prosper just as well by acquiring exclusive access to the use of the equipment, plant or machinery you need without the commitment of a purchase;
  • in that event, we are able to offer straight forward leasing asset finance agreements.

When you are looking for business asset finance, therefore, your first port of call is likely to be to us here at Forza Finance.


Header image credit: