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Finance solutionsFor Brokers, Vendors and Intermediary Partners. Everything you need to support your customers in one place.Find out more
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SectorsClose Brothers Broker Solutions supports various sectors across the UK. Click on your sector to find out how we can support you and your customers.Find out more
Q. What are the minimum and the maximum amounts you can finance?
A. Typically, the minimum amount is £10,000 and the maximum is £1,000,000, all net of VAT.
Q. What kind of equipment can be financed?
A. We provide finance for a range of assets, such as vehicles (including cars, executive cars, coaches, luxury cars, minibuses, trailers, and HGVs), contractors’ plant (including excavators, dump trucks and crushers), precision engineering and woodworking equipment and other mission critical equipment (including shop fittings, catering equipment and beauty equipment).
Q. Do I have to be a Limited Company?
A. No, we can provide finance facilities for sole traders, partnerships, limited companies, PLCs and Public Bodies.
Q. What is the repayment schedule like?
A. Regular payments are made by Direct Debit from a business bank account. In most cases payments are made monthly but in some instances they may be quarterly.
Q. Can I have different suppliers and equipment on the same agreement?
A. Yes, so long as delivery is close enough together to manage payout to the suppliers satisfactorily, we can combine assets and suppliers on one agreement, allowing flexibility to shop around and freedom of choice.
Q. Will my repayments be fixed?
A. Yes, once an agreement has been entered into, the monthly payment figure will remain the same (unless the VAT rate changes) for the duration of the agreement, offering peace of mind for future budgeting.
Q. What happens if my business is sold?
A. We may be able to assign the agreement to the new owners if they pass our underwriting criteria, otherwise the agreement must be settled in full before title to our assets can be transferred across as part of the business sale.
Q. Can I settle the agreement earlier than the minimum term?
A. Yes, should a business wish to pay off the agreement early, a settlement figure can be provided and in most cases an interest rebate is applied.
Q. I have another question I would like to ask
A. Please contact us directly to discuss your specific query – a member of our team will be happy to assist.
Our approach to underwriting
Sectors: We will consider most sectors if the company has proven cash flow and serviceability.
Assets: Finance can be provided for a variety of assets with a minimum advance of £7,500 for hard assets and £10,000 for soft assets.
Assets we can finance include:
- vehicles (including cars, coaches, trailers, and HGV)
- contractors’ plant (including excavators, dump trucks and crushers)
- precision engineering and woodworking equipment
- forklift trucks
- business assets with a realisable second-hand value.
In addition we finance other mission critical ‘soft assets’ such as shop fittings, catering equipment and beauty equipment subject to the strength of the covenant.
Personal guarantees: These may be required depending on the covenant and asset security.
Existing exposure to Close Brothers Group plc
Please advise us if you are aware of any current exposure the client may have to any member of any division of Close Brothers Group plc.
Financial information
On most proposals we required:
- A proposal form giving the main details of the proposal (customer, financial details, equipment, supplier, partners/directors, etc)
- A brief summary – to include the background and structure of the proposal and applicant, along with the rationale of the proposal.
- A full specification and description of the asset for valuation by our experts.
- A minimum of two months’ bank statements not more than one month out of date.
- Audited accounts for businesses trading two years upwards. If these are more than nine months old (or not available yet for younger companies), please provide up to date management accounts
- Links to customer and supplier websites are useful background information, as well as providing proof of trading. All suppliers must be pre-approved before drawdown.
- Personal searches must indicate ability to service all debts with clean profiles.
- Home equity (value and mortgage) details for directors/partners. Associated searches such as Land Registry and indicative property valuations from websites such as Zoopla, Mouseprice or similar are extremely useful.
- The financial information needs to support the lending and also demonstrate that the company will be able to service the future rentals.
FAQs Q. What are the minimum and the maximum amounts you can finance?
A. Typically, the minimum amount is £10,000 and the maximum is £1,000,000, all net of VAT.
Q. What kind of equipment can be financed?
A. We provide finance for a range of assets, such as vehicles (including cars, executive cars, coaches, luxury cars, minibuses, trailers, and HGVs), contractors’ plant (including excavators, dump trucks and crushers), precision engineering and woodworking equipment and other mission critical equipment (including shop fittings, catering equipment and beauty equipment).
Q. Do I have to be a Limited Company?
A. No, we can provide finance facilities for sole traders, partnerships, limited companies, PLCs and Public Bodies.
Q. What is the repayment schedule like?
A. Regular payments are made by Direct Debit from a business bank account. In most cases payments are made monthly but in some instances they may be quarterly.
Q. Can I have different suppliers and equipment on the same agreement?
A. Yes, so long as delivery is close enough together to manage payout to the suppliers satisfactorily, we can combine assets and suppliers on one agreement, allowing flexibility to shop around and freedom of choice.
Q. Will my repayments be fixed?
A. Yes, once an agreement has been entered into, the monthly payment figure will remain the same (unless the VAT rate changes) for the duration of the agreement, offering peace of mind for future budgeting.
Q. What happens if my business is sold?
A. We may be able to assign the agreement to the new owners if they pass our underwriting criteria, otherwise the agreement must be settled in full before title to our assets can be transferred across as part of the business sale.
Q. Can I settle the agreement earlier than the minimum term?
A. Yes, should a business wish to pay off the agreement early, a settlement figure can be provided and in most cases an interest rebate is applied.
Q. I have another question I would like to ask
A. Please contact us directly to discuss your specific query – a member of our team will be happy to assist.
Underwriting Policy Our approach to underwriting
Sectors: We will consider most sectors if the company has proven cash flow and serviceability.
Assets: Finance can be provided for a variety of assets with a minimum advance of £7,500 for hard assets and £10,000 for soft assets.
Assets we can finance include:
- vehicles (including cars, coaches, trailers, and HGV)
- contractors’ plant (including excavators, dump trucks and crushers)
- precision engineering and woodworking equipment
- forklift trucks
- business assets with a realisable second-hand value.
In addition we finance other mission critical ‘soft assets’ such as shop fittings, catering equipment and beauty equipment subject to the strength of the covenant.
Personal guarantees: These may be required depending on the covenant and asset security.
Existing exposure to Close Brothers Group plc
Please advise us if you are aware of any current exposure the client may have to any member of any division of Close Brothers Group plc.
Financial information
On most proposals we required:
- A proposal form giving the main details of the proposal (customer, financial details, equipment, supplier, partners/directors, etc)
- A brief summary – to include the background and structure of the proposal and applicant, along with the rationale of the proposal.
- A full specification and description of the asset for valuation by our experts.
- A minimum of two months’ bank statements not more than one month out of date.
- Audited accounts for businesses trading two years upwards. If these are more than nine months old (or not available yet for younger companies), please provide up to date management accounts
- Links to customer and supplier websites are useful background information, as well as providing proof of trading. All suppliers must be pre-approved before drawdown.
- Personal searches must indicate ability to service all debts with clean profiles.
- Home equity (value and mortgage) details for directors/partners. Associated searches such as Land Registry and indicative property valuations from websites such as Zoopla, Mouseprice or similar are extremely useful.
- The financial information needs to support the lending and also demonstrate that the company will be able to service the future rentals.
