WHY USE ASSET FINANCE?
- asset finance is a means by which businesses can fund their capital equipment outside of their existing banking facilities
- asset finance funds tangible business assets such as vehicles, healthcare equipment, plant and machinery with agreements of typically 3 to 7 years, which tend to be no longer than traditional bank loans
- it is particularly suitable for businesses who need to use their existing cash flow to manage their business
- it offers the flexibility to keep using the equipment at the end of the finance agreement should you wish to do so
- tax benefits can apply through capital allowances and VAT
Why finance with Singers?
- Expertise in your sector with offices across the UK providing local market support
- Direct line to decision makers, no call centres
- We have lent continuously throughout the credit crisis and supported our customers
Key asset finance facts in 2010
- Almost £20 billion was provided to the business sector and UK public services
- Through lease and hire purchase, asset finance accounted for almost 25% of all fixed capital investment, other than property
- Asset finance provided finance to 33% of Small to Medium size Enterprises which sought external funding
- Asset finance is now the third most common source of loan finance, after bank overdrafts and term loans
- Almost one fifth of UK SMEs used leasing to fund capital equipment
- Over a thousand small businesses obtain new asset finance every day
Source: Finance & Leasing Association