What is asset finance?

Asset finance is a simple method to help businesses acquire equipment to help grow their businesses. That could include purchasing new or used equipment or indeed releasing equity out of equipment already owned. Ultimately, asset finance is a proven product that assists businesses with cash flow and growth.

What can I buy with asset finance?

Asset finance can be used to purchase any asset that helps your business grow. This could include trucks, trailers, vans, cars, manufacturing machinery, construction equipment, recycling machinery, and agricultural equipment and much, much more. However, it is far easier to ask us what we can’t finance as this list is far shorter!

What are the key advantages of asset finance?

The main advantage of asset finance is that you get to pay for the asset over its working life which helps cash flow.

We provide products that tailor your requirements with examples being:

  • Hire purchase – this is a simple way to buy an asset and spread the cost over a defined amount of time. You’ll pay for it in instalments via simple payment plan tailored to suit your budget and cashflow requirements
  • Finance leasing – a finance lease works as a rental agreement. We buy the asset you need and rent it to you over the duration of the lease contract. That means you have it straight away, and only need a fraction of the total amount up front
  • Asset equity release – this is a finance solution that enables you to raise capital for your business by securing a loan against your high value assets – traditionally machinery, equipment or vehicles

Our products offer great benefits in terms of cost efficiency and agreements are fixed and cannot be withdrawn.

What size businesses do you work with?

Simply deals with companies of all sizes in the UK, and many of our customers are SMEs.

Can you really be helpful to newer and smaller firms like mine?

Yes, we can. Whether you are a new-start company or a company that wishes to release capital from existing owned assets, we are here for you. Many of our specialists have joined our business from the industries that they now lend into, so we do really understand where you are coming from.

The company has been refused a line of credit by the bank, can you still help us?

Yes, we can. We pride ourselves in helping UK business and we have a can-do attitude. We are non- bank owned so it is always worth having a conversation and we will try our best to help the success of your business.

Are there minimum or maximum values you will lend?

Yes. Typically, our minimum loan size is £5000 rising to a maximum loan size of £10m plus.

Do you work with brokers and intermediaries?

Yes, we do. You can contact us on 0208 0495 575 or email us on brokers@simply.finance if you would like to join our network.

Can we have more than one finance agreement with you at any one time?

Yes. Each agreement is aligned to each asset however we can also fund multiple assets on the same agreement.

Does finance through Simply cost more than with a bank?

Each application is considered on its own merits and tailored to suit the company’s actual requirements. Asset finance is sometimes considered to be a more flexible way of acquiring critical assets to help companies grow.