Grow your business with an asset finance broker.
Business growth can be expensive. When you need a new office, a new fleet of vehicles or new IT infrastructure, you may not have the capital available to fund your investment. That’s where Prydis asset finance services can help.
What is asset finance?
Think of asset finance as a way of getting the assets you need for your business, without paying a lump sum for them upfront. This allows you to expand or enhance your operations, without overstretching or putting your financial security at risk. And because your finance is secured against the assets concerned, asset finance can be easier – and cheaper – to obtain than a business loan.
Types of asset finance
Hire purchase – Hire purchase allows you to spread the cost of an asset purchase over a period of time with fixed regular payments.
Finance lease – With a finance lease, the lender retains ownership of the equipment or vehicle, though it is yours to use as you please in exchange for a fixed number of rental payments.
Operating lease – An operating lease allows you to rent the assets you require for a period of, for example, one to three years, with no upfront cost.
Commercial loan – A straightforward loan that may be the most suitable for single one-off purchases.
How does asset finance work?
Most types of asset finance arrangements are hire purchase contracts. You get immediate access to your assets, but do not own them until you have completed a series of fixed monthly payments – typically over the course of 12-60 months.
Another alternative asset finance arrangement is a leasing contract. While you get immediate access to the assets you need, you do not own your assets at the end of the agreement. Instead, you essentially rent your assets for a set monthly fee.
You can also refinance assets that you already own to give your business an injection of cash. This can be worth considering if your business is experiencing cashflow issues – and you still get to use the assets you have refinanced.
What is an asset finance broker?
Just like any type of finance, there are lots of different asset finance deals on the market. An asset finance broker helps you to find the arrangements that best suit your business, and then negotiates the contracts on your behalf.
What can you expect from Prydis?
Prydis have access to the entire asset finance market and are completely independent. That means our recommendations are based purely on what we believe is best for your particular set of circumstances. Our unique blend of in-house financial, accountancy, commercial and legal expertise means we can take an informed view of your business and provide meaningful advice on your challenges, goals and ambitions.
If you are looking to apply for a asset finance – please fill in the form to give us as much information as possible – one of our team will then be in touch.
Get In Touch
To talk to one of our team and discuss our services, get in touch to see how we can help.
Call us – 01392 432431