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Table of Contents
Welcome to Fast Forward Finance
At Fast Forward Finance, we use our industry experience and expertise to source custom-made funding solutions for a wide range of UK businesses without subjecting them to the lengthy paperwork and hassles associated with a conventional loan process.
If you have a UK business that needs asset financing with a faster turnaround time, take advantage of our experience to find suitable deals.
A Trusted Capital Source for over Xnumber of Businesses
For many years, we have been in the business of helping companies find the funds they need to purchase, refurbish or lease essential business assets without which they may not be able to operate, by linking them to suitable asset financing providers in the country, making us one of the most trusted sources for assets capital and financing for over XXX number of business.
Through our special mix of seasoned experts, we have been able to negotiate suitable deals for buying, leasing and refinancing solutions for business assets. If you need funds to procure essential equipment and property for your business, we may be able to work something out for you. Get in touch to discuss more.
A Proven Track Record in Providing Business Finance
Fast Forward Finance has a proven track record of providing essential business finance for eligible business. We are proud of the fact that over the years, we have been able to raise millions of pounds for qualified businesses in asset financing.
Our robust funding panel provides for a wide variety of funding options, including alternatives for most situations. We try to listen to what your company wants and help you identify realistic options that can achieve your goals.
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Our Business Finance Specialist Team
Our asset financing experts are ideally suited to assist businesses in the UK and have exceptional knowledge of a wide variety of asset types.
We will discuss your needs and understand your business so that we can identify suitable asset financing options that will meet your business needs. If you are looking for experts to provide the professional guidance you need to make a good asset financing decision, get in touch today to speak to a dedicated account executive.
What is an Asset-based Loan?
An asset-based loan is a form of business funding designed specifically to help businesses acquire the business assets they need to expand and work efficiently and successfully within their market, without affecting cash flow.
Wholly or partially secured against financed assets, asset-based loans can provide you with the opportunity to fund essential equipment procurement even when your business does not have the entire amount in place.
How to Finance your Business with Asset-finance Type Loans
Asset finance is one of the easiest ways to raise funds for business equipment while maintaining the cash flow. Asset financing will save money for your company, ensuring more investment capital is available to expend elsewhere in your business. When you’re a start-up or a small company, you may find it hard to afford the equipment or machinery required for effective service. Asset financing benefits your business by providing the option to lease or buy where buying costs are broken into manageable monthly amounts.
It’s a tactic that most start-ups use regardless of financial stability. As in every sort of financing, it is vital to bear in mind the viability of your business, so that you only take out asset financing that you can pay for when due. You should also have a proper understanding of your business operations so that you don’t take out asset financing for assets that don’t immediately benefit your business. To get more information on asset financing and how it can be of help to your business, call PHONEXXX to speak to someone one-on-one.
Understanding Asset Finance
Asset finance allows you to buy critical equipment for your business without your cash flow bearing the financial burden of such expensive purchases. Asset financing can be used to purchase, lease, and repair essential assets such as equipment, machinery, work vehicles and even IT and communication devices used in everyday business operations.
In the past, asset financing has traditionally been considered a form of last-resort financing. However, in recent years, it has become the go-to source of funding for many businesses. This form of funding is particularly important for small enterprises, start-ups and other firms that lack the track record or credit rating to apply for alternative sources of financing.
Many lenders specialise in one particular asset financing sector, while others can fund just about anything that has a resale value. A wide variety of asset financing options are available, and this can sometimes be structured as a flexible deal. There are also a few restrictions: the asset must typically be essential to the business activities, and it must always be movable so that it can be used as collateral for the loan.
Asset finance is ideal for a wide range of businesses and companies, from sole traders and small to medium-sized enterprises, as well as large enterprises and corporations. Whether you’re trying to fund a new vehicle purchase, facilities or machinery, carry out expansion projects, reduce debts, or inject working capital into your business; asset financing can help. Get in touch with us at Fast Forward Finance to explore the asset finance options available to you.
What are the Asset Finance Options Available?
Equipment Leasing
Equipment leasing can be an easy way to acquire pricey equipment and tools that your company needs in order to continue production. Instead of outright buying these expensive items, you lease them for a period of time using equipment leasing.
Most leasing companies don’t need a significant down-payment. Which is why when you intend to upgrade facilities on a regular basis, leasing is a successful choice. If you need to upgrade to more modern equipment to accommodate a greater amount of operation, you can do so without having to sell the entire old machinery and store. You simply turn in the older items and get modern ones from the leasing company. Equipment rentals also count for tax rebates, making it a good idea for businesses trying to maximise revenue.
Commercial Hire Purchase
With commercial hire purchase, businesses can have direct access to the machinery, vehicles and other equipment and spread out the payment over a period of time. With reasonable monthly payments and improved cash flow, businesses can maintain the competitive advantage in the industry.
Unsecured Business Loans
Unsecured business loans offer access to financing for businesses, without the need to secure the loan against any collateral. You only pay interest on the loan amount.
Unsecured business loans from our affiliate lenders support small and medium-sized businesses around the country to access the funding they need to fund growth, expansion, meet tough cash-flow periods and eventually see their company prosper.
Finance Lease
A finance lease is an arrangement in which the lessee gains the right to use the asset from the lawful owner of the asset. It is known as a finance lease because all of the benefits and risks are passed to the lessee.
If you choose a finance lease deal, the stresses that normally occur when a contract requires a lot of initial money are eliminated. This is an established way of allowing businesses access to a variety of new vehicles and equipment without having to take possession of them, or even purchase them entirely.
Operating Lease
An operating lease is an obligation to use and manage an asset without owning it. Common items that can fall under this category include properties, vehicles and heavy equipment.
Operating leases allow businesses to avoid reporting an asset on their balance sheets while counting them as operating costs because these assets are rented and not bought.
Asset Refinance
Refinancing of assets is the method whereby a loan is secured against assets owned by the company, such as buildings, vehicles or machinery. These assets are used to raise business capital that can be used for a variety of purposes.
When you can’t make payments on the debt, the lender takes the asset to reclaim what’s owed.
Which Asset Finance Solution is the Right one for your Business?
There is a range of different asset finance products available and each can be customised to best suit the requirements of the business.
Before entering into any asset financing deal, particularly leasing or a hire purchase, make sure the asset meets your needs for the full term of the contract. To make an informed decision when considering asset financing, get in touch with our experts to talk about your business needs in detail.
The Advantages and Disadvantages of Asset Financing
Most businesses favour asset finance because it is a quicker way to raise cash flow relative to traditional forms of funding.
It takes time to get the consent of a bank for a business loan, far longer than clients, staff and vendors are willing to wait. Because of this, asset finance is a perfect solution to keeping the company going smooth.
Businesses may use asset funding to get the facilities they need to expand. Pay a fixed sum over a negotiated time to use the asset, eliminating the full expense of acquiring it outright. On the other hand, it can be more expensive using asset financing than buying the asset outright.
Additionally, if you default on your repayments, the assets can be repossessed so that you end up losing everything. Long term deals can’t always be cancelled. And, if the leasing term is shorter than seven years, you may not be able to subtract the value of the property from your income for tax purposes, nor assert capital allowances.
What are the Eligibility Criteria for Asset Finance?
You have to follow certain conditions to show to the investor that you’re not much of a risk.
However, if you’re running a company that’s been operating for three or more years and making a stable income and have a viable future, then the lender will most likely authorise you for funding. This is subject to lenders’ policy requirements, however. Not sure if you meet the criteria for asset financing? Let us help you explore the options that are available to you.
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Asset Finance Calculator
The asset finance calculator has been designed to give a realistic example of what you can expect to pay when you apply for asset funding.
The calculator will give you an overview of interest rates and fees so that you can make an informed decision. Please be conscious that finance companies base their decisions on a number of variables and the result of the calculator is not fixed or a guarantee that your application will be approved.
What’s the Typical Interest Rate for an Asset Finance Loan?
The typical interest rate for asset financing per annum is 3.5%. However, rates depend on factors such as the financial viability of the business, the security provided, loan amount and loan term.
Some lenders also look at the creditworthiness of your business by checking its credit score to determine the risk quotient in providing the financing. If you would like to compare lending rates and fees, contact us to talk about your loan needs so we can prepare a quote for you.
Some of the Sectors we lend to:
- Retail businesses
- Bars and restaurants
- Hotels and B&Bs
- Hair and beauty salons
- Dentists and opticians
- Vets
- Auto garages and MOT centres
How does the Application Process for Asset Finance work?
Usually, you can apply on our website to register for asset lending offers. The procedure takes just a few minutes, provided all the relevant information is at hand.
To describe your company, you may need to include some specific documents, corporate and personal financial records, income tax reports, and a business plan. Afterwards, the lender can complete a credit check on your company. Usually, you will be given a near-instant decision on your application, but in some cases, this can take up to three business days.
Make sure you know what kind of asset financing you need so that you can put together the necessary paperwork for the application. If you are not sure how to proceed, call PHONEXXX or send an email to EMAILXXX and someone will walk you through the process.
What can you use Asset Finance for?
Asset financing or leasing can be used for many business requirements: trucks, commercial vehicles, buses, coaches, engineering plants and machinery, printing machinery and equipment, construction machinery and equipment, farm machinery, factory and IT equipment, and office equipment. Whatever your equipment needs, you may be able to find a suitable asset financing deal to handle them. Contact us for professional help and guidance.
Why Choose Fast Forward Finance for an Asset Finance Loan?
Unsecured Loans Available
Need to extend your business, invest in equipment or take out working capital borrowing but don’t have the necessary collateral? Fast Forward Finance has helped hundreds of businesses raise unsecured loans in the UK. We may be able to arrange something for you too. Why not get in touch to discuss your needs in detail?
No Early Repayment Fees
At Fast Forward Finance, we try to only source lenders that do not collect early repayment fees from clients that pay off their loans early. This means that should you come into money, you are free to clear your debt before the end of the loan term without attracting any penalty.
Flexible or Fixed-term Payments
There are plenty of options associated for asset finance items, such as flexible payment arrangements and fixed payments. We can work with you to develop a payment schedule customised to your company needs and to your cash flow.
Fast Funding
At Fast Forward Finance, we have taken away the hassle and lengthy bureaucracy so that we and our partner lenders can offer quick, simple and hassle-free asset finance solutions. Once everything checks out, you can expect the funds in your account as soon as possible.
Fair Decisions
Fast Forward Finance strives to provide an outstanding lending brokerage operation, where decisions are made based on the merits of the security and a suitable repayment plan while taking into account the unique needs of the client.
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We’re Easy to Work With
At Fast Forward Finance, we understand that every business is different, each with its own unique set of circumstances. Our committed expert team always strives to take the time to understand your business, so we can look for funding terms to suit your specific circumstances. We are very easy to work with, always put our clients first and are always ready to go the extra mile just so that our clients can be satisfied.
Dedicated Account Executives
When you work with us, you will be given a dedicated account executive to handle your asset financing process, and our UK-based broker support staff is always also on hand to assist. Even if you have zero knowledge of asset financing, you can count on us to point you in the right direction.
Stellar Customer Service
When it comes to providing stellar customer service, you can always count on us at Fast Forward Finance to deliver. We continually strive to provide a seamless and hassle-free experience for our customers. No wonder we have lots of satisfied customers.
Following the FCA Rules
At Fast Forward Finance, we and our partner lenders work within the confines of the FCA rules and regulations, so you can be sure of value-added service at all times.
How to Apply Online for one of our Asset Finance Loans
Step 1: Get a Quote. Tell us about the equipment you want and we will look for suitable options and help you work out a suitable repayment plan.
Step 2: Apply for Finance. Submit an application online and we will look for lenders and facilitators that may be willing to consider your asset funding needs.
Step 3: Sign Documents. Once everything checks out, let us know how you’d like to arrange repayments for the financing in place and we’ll give you the matching documentation. Simply sign the order and continue to move forward.
Step 4: Take Delivery. Take delivery of your asset while we arrange for immediate payment to the manufacturer, and begin your scheduled repayments.
Simple Qualifications
If you’re trying to qualify for asset funding, you’d usually have to follow qualifying requirements by showing a decent financial background.
You typically have to be a UK resident with a functional business that is at least three years old, duly registered and with the relevant paperwork to prove it.
The qualifications are simple to meet and we can work with you to get what you need together.
Easy Application Requirements
Any UK based person over the age of 18 or UK based business may apply. They will be required to prove they have adequate equity in a security asset.
Super-fast Approvals
Through our asset finance brokerage, you can get clearance and funds for asset financing in as little as XXX hours when you need to find business financing quickly. If approved, we will either get funds to your chosen business bank account or pay on your behalf to a supplier.
Want to Check your Eligibility Before you Apply?
Want to check and see if you are eligible for asset financing? You can check your eligibility and apply for asset financing by signing up with fast Forward Finance using the simple eligibility form provided. It is quick, simple and above all free.
Want to check your eligibility before you apply for a Development Bridging Loan?
