Refinance

What is Refinance

Refinance is a process of borrowing money against the value of your existing assets, such as equipment, machinery, vehicles, or property. It's a quick and flexible way to raise funds without selling your assets or affecting your cash flow.

Refinancing, including Sale and Lease Back and Sale and HP Back, can be used against most types of equipment, making it suitable for companies of all sizes, including sole traders. It works by us purchasing the asset and financing it back to the business.

Repayments are calculated in line with the income stream that will be generated by the asset and at the end of the refinance term, they own the asset.

This option applies whether the business already owns the asset or are using it under a finance deal with another provider.

Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.

Benefits of Refinance

Efficiency: Asset refinancing offers a straightforward and quick way to secure additional working capital for business requirements. They can continue to use the asset offered as security against the loan
Spread the cost further: We can take over the finance agreement they have with another provider and extend the term, which is fixed along with the charges so they will not incur any surprises during the lifetime of the loan
Choice: Give the business a cash injection or use the money to buy other assets that may not be accessible through Hire Purchase or Leasing agreements
Make fast decisions: Releasing capital can help the business to make faster decisions when negotiating business contracts. They can use the released funds to invest into new people, assets, or workplaces to expand the business

Finance is secured against the asset and/or equipment. If the business is unable to keep up with payments we may repossess the asset and/or equipment.

Refinancing could potentially incur higher costs and may involve longer terms compared to your current agreements.