Equipment Business Loans

Table of Contents

*Rates and fees may need to be amended to reflect current market conditions.

Welcome to Fast Forward Finance

Fast Forward Finance is a loan broker in the UK specialising in equipment business loans and a wide range of similar loan products.

Fast Forward Finance Loans is not a lender.

Our job is to help you source suitable business loans for equipment and link you up with suitable lenders who can provide the equipment financing you need to keep your business functional.

As one of the top brokers in the industry, our aim is to provide you with the best possible rates and loan conditions across the UK market. With a network of more than XXX independent lenders, you can be sure of getting a deal that will work for your business.

A Trusted Capital Source for over Xnumber of Businesses

Fast Forward Finance has extensive industry expertise in delivering financial solutions targeted towards equipment financing for eligible businesses.

As we have built up a diverse panel of funders across a wide range of UK financial sectors, we are one of the most trusted sources of capital for Xnumber of businesses in the country.

A Proven Track Record in Providing Business Loans

Fast Forward Finance has always strived to maintain an outstanding track record of raising equipment financing and providing equipment loan products for eligible businesses in the UK.

Regardless of how much you need or the type of equipment you want to procure; we can explore the market on your behalf to find the best rates and deal for you.

We will bring the full force of our industry expertise and knowledge to bear so that you too can join the hundreds of businesses that are enjoying the benefits of our loan brokerage deals.

If you need important equipment to keep your business running and operational, don’t hesitate to get in touch with us to explore equipment financing for you.

Our Business Finance Specialist Team

With so many financing options out there, it can sometimes be daunting trying to find the right financing solution for the needs of your company. At Fast Forward Finance, we strive to have one of the most trained and experienced finance teams in the industry with years of closing experience in equipment loans behind them.

Our professional finance team will work closely with you to find the best product for funding your purchase of business equipment.

Our team can work to raise funds for all kinds of equipment irrespective of your industry, so you can concentrate on having the right tools for your business. From appliances to machinery to electronics, these loan products can fund virtually any equipment your company may need.

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How to Finance your Business with Equipment Loans

Whatever your business line, you will need to update your equipment at one time or another. Continuing to operate with outdated equipment is simply not an option and if you continue to do so, it may mean that your company will lose competitive advantage.

Equipment loans are a source of small business financing that small business owners may use to purchase any type of equipment or machinery that their company needs to run profitably.

If your business operates with office computers and other IT equipment, industrial appliances, company vehicles or other specialist machinery, you might be able to take out a loan to fund your company’s equipment needs.

A business equipment loan will help you raise capital quickly to purchase, lease or repair the equipment you use in your business. With this loan in hand, you should be able to handle your cash flow smoothly, because this funding should allow you to spread your payments over a longer period of time.

A business loan for equipment can help businesses maintain working capital for other strategic purposes, and in certain situations, the equipment may even also help the company generate new sales that could help cover the funding costs.

The trick is in partnering with a professional broker who knows the equipment business loans industry inside out, can give expert guidance, walk you through the process and guide you in the right direction.

When you’ve got the right broker working by your side, getting the funds you need for the equipment you need would be an easy matter to accomplish.

Understanding Equipment Business Loans

Business equipment financing is the exclusive use of a loan to buy tools and equipment for your company. Equipment financing essentially supplies the funds required for the business to expand through the purchasing, refurbishment or replacement of necessary equipment.

The equipment purchased serves as insurance or collateral for the loan, ensuring you can have continued use and access to the equipment for as long as the loan is repaid in a timely manner. If for any cause, a default should occur, the equipment is used to recover the balance of the outstanding loan amount plus any additional costs.

Since every form of company has unique needs, nearly every industry has options for financing small business equipment. Equipment loans are fairly easy to obtain (as opposed to conventional term loans), and help protect the cash flow of small businesses.

However, there are restrictions: for certain types of equipment loans, the money can only be used to purchase the required equipment, which means you will have to have a plan for exactly what type of equipment you need and what the return on investment would be.

Each lender may have different terms, but you can fund about 80% of the item’s overall purchase price with a loan. You own the item from day one when you plan to purchase your equipment and fund through a loan.

For most small business equipment loans, a down payment of about 20% is usually expected. The business equipment loan is secured against the purchased equipment and this equipment can be repossessed in the event of the loan default.

A Cash Injection to help you push your Business Forward

If your business requires equipment to be fully operational and productive, an equipment business loan may be what you need to give your business the much-needed cash infusion to ensure the level of productivity that will help your business remain profitable.

One of the great things about equipment business loans is that you can even find funding without a down payment. This means that you can get the relevant equipment you need without overstretching your cash flow or tying down much-needed finance in an expensive equipment purchase.

Equipment financing offers an excellent alternative source of capital for the purchase of business-critical assets and facilities and a great way to keep your business running.

Can you Get an Unsecured Equipment Business Loan?

Yes, you can. Unsecured equipment loans are a viable choice for a company looking to procure some equipment but do not have enough security against which you can back the loan.

While unsecured loans are usually difficult to arrange, Fast Forward Finance may be able to work out something for you, especially as the loan is secured against the purchased equipment.

What are the Eligibility Criteria for an Equipment Business Loan?

Eligibility for business equipment loans vary by lender but some of the common factors are:

  • You must have a registered UK business
  • You must have been actively operating for a minimum period – usually three months.
  • You must have a significant amount in monthly turnover
  • You must be a business owner and more than 18 years old
  • You must have a viable repayment plan
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Equipment Business Loan Calculator

When shopping for an equipment business loan, it is a good idea to know what this loan will cost your business before going ahead with it.

Using our equipment business loan calculator, you can have a good idea of the costs and repayment expectations. This way, you can avoid going in for a transaction that may not favour your business.

What’s the Typical Interest Rate for an Equipment Business Loan?

As part of the terms of the loan, you will be expected to pay interest on the equipment business loan. While this interest rate differs by lender and depends on a number of factors including loan length and loan amount, most lenders peg their equipment business loan rate at XXX%.

If you are interested in a business equipment loan, we can help you source for competitive rates so that you end up with a loan you can afford. Get in touch today to talk to an advisor.

What are the Equipment Finance Options Available?

Finance Lease

A finance lease is when a lender buys the asset you want and then rents it out to your company for a negotiated period of time. You may choose to manage your budget by choosing flexible repayment terms, although the lease payments that you make are usually tax-deductible.

Operating Lease

Operating leases are the easiest type of equipment leasing in which the business does not take on the risks and benefits of owning the equipment such as repair and maintenance costs. This type of lease is basically a method of leasing an asset over a short or medium time frame for your company.

In an operating lease, you are not responsible for maintaining the asset and will not lose money as a result of depreciation, neither are you responsible for disposing the equipment at the end of its lifespan

Hire Purchase

Hire purchase agreements are similar to rent-to-own contracts and give the lessee the right to buy and own the equipment at the end or at any point during the contract. Like the rent-to-own purchase, buyers with bad credit will profit from spreading the cost of expensive equipment they would otherwise not be able to afford, over an extended period of time. However, the customer doesn’t legally own the item until all the payments are made.

Contract Hire

Contract hire represents an agreement between two parties to lease equipment for a set time period at a fixed monthly cost. Contract hire is typically a car leasing finance option, available to business owners and is a tax-efficient solution as clients can claim back a significant percentage of their expenses on VAT.

The Benefits of Equipment Finance

Using equipment business loans for your business has many benefits and they include:

Tax Efficiency

Getting money to buy or rent equipment for your company through an equipment loan is more tax-efficient than using company funds to finance these purchases.

That is because equipment funding is a monthly cost on your balance sheet, rather than a very costly purchase. Furthermore, setting aside repayments each month can reduce future government tax payments.

Easy to Budget and Manage

Equipment financing provides you with recurring payments, and you can spread the costs over time. That means cash-flow management is a little easier, so you can focus on running the company.

Flexibility and Scalability

When you finance one piece of equipment and your business begins to pick up, it is easier to get more equipment from the same source without tying down business funds.

Equipment financing is a great and flexible way to grow your business, whether you are increasing production by taking on new state-of-the-art equipment or buying more vehicles to increase logistics.

Access to Other Lines of Credit

Access to other credit lines is one of the often overlooked yet important factors for financing equipment rather than buying it outright.

As has already been pointed out, equipment financing is usually a monthly cost requirement and is good for tax efficiency. However, it also means that you can get another form of business financing easily once you have kept up with your repayments.

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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 an Equipment Business Loan work?

Once you have completed your application for a quick and straightforward equipment business loan, your details will then be passed on to our partner lenders to verify that you are eligible for the loan product.

You will need to fill out as much detail as possible in the application form so that we can make a quick and precise decision.

Our lenders will carry out a number of verifications including your exit strategy, the strength of your business and of the security against which you are applying for the loan.

If the loan application is approved, the equipment loan type you indicated will be activated or the funds transferred to your bank account, usually in very little time.

For example, if it is a hire purchase system, the equipment will be bought, handed over to you and the payment process activated. Our FAQ pages answer many of the most common questions if you still need more information.

What can you use an Equipment Business Loan for?

Equipment bridging loans can be ideal when it comes to raising quick cash for equipment in a wide range of companies and industries.

These include but are not limited to:

  • Plants and machinery
  • Catering equipment and tools
  • Agricultural equipment and tools
  • Printing press equipment
  • Construction equipment
  • Vehicles

Why Choose Fast Forward Finance for an Equipment Business Loan?

Unsecured Loans Available

With the unsecured loans we arrange for businesses, no collateral is required to apply. Borrowers need not have a strong credit rating to apply. As long as they have a healthy cash flow, they are eligible for a business equipment loan.

No Early Repayment Fees

One good benefit of working with us at Fast Forward Finance is that we work only with lenders that forgo early repayment fees. Therefore, you can confidently repay your loans early should your business finances change without fear of being charged early repayment penalties.

Flexible or Fixed-term Payments

Our lenders are very flexible regarding the structure of payments. They are only interested in your keeping to a repayment schedule and paying off your loan. So, whether you want a fixed payment system or a flexible one, we can find a lender which is able to accommodate you.

Fast Funding

At Fast Forward Finance, we understand that businesses need funds and their equipment quickly to meet their production schedules. This is why as soon as your loan application is approved, you can get either the funds or the equipment you need as soon as possible. No delays.

Fair Decisions

The team of business loan experts at Fast Forward Finance are dedicated to helping UK businesses grow. To achieve this, we endeavour to work with lenders that look at your financial situation, the reason for your loan, and your repayment plan, rather than your credit rating. This ensures that every decision made is fair and rational.

We’re Easy to Work With

Our equipment business loan team members are easy to work with. It doesn’t matter what you want to talk about, there is always someone on hand to attend to you and even come up with a suitable loan product for you. We strive to be always willing and ready to go above and beyond the call of duty when it comes to meeting the needs of our clients.

Stellar Customer Service

The Fast Forward Finance team tries to be not only excellent in helping customers secure business equipment loans but also in continuing to provide assistance and liaise with lenders and lawyers through to completion. We endeavour to make the company equipment procurement process simpler with our stellar customer service and industry expertise.

Why not try us when next you need equipment financing for your business?

Transparency Every Step of the Way

Traditional loans are typically riddled with hidden fees and unexpected costs which the borrower is not aware of until it is too late.

However, at Fast Forward Finance, we have a very transparent process that is clear to all. There are no hidden fees, no unexpected surprises, and no funny clauses hidden in the loan contract.

You can always trust the transparency of our process.

Dedicated Account Executives

Here at Fast Forward Finance, we believe in making things as easy as possible for our clients. To this end, every client has their own dedicated account executive. This professional aims to always be in contact with you throughout the loan process to make sure that you have a pleasant experience.

How to Apply Online for one of our Equipment Business Loans

It couldn’t be easier to apply for a loan with us. All you need to do is apply via our online application form, fill in all the relevant details and submit and we will be in contact with you to talk about your loan.

Our process is trouble-free and involves the following three characteristics:

Simple Qualifications

If you are looking for business equipment loans with simple qualifications, you are on the right page.

You don’t even need to have a good credit rating. As long as you have a business operating in the UK for the minimum period required by the lender, can show proof of a profitable business and a good plan to repay the loan, you stand a good chance of getting the funds or the equipment you need from our loan providers.

Easy Application Requirements

One benefit of working with Fast Forward Finance is that you are not made to jump through a lot of hoops as you would if you applied for a regular loan or mortgage.

Every aspect of our process is easy and if you encounter a problem, we are always on hand to provide help.

Super-fast Approvals

Fast Forward Finance works with lenders who evaluate loan applications quickly and provide near-instant approvals. This means that you can know whether your loan application is approved within a few hours of applying so that you can go ahead and plan and get ready for your new equipment.

Want to Check your Eligibility Before you Apply?

Before applying for a loan, it may be a good idea to check whether you are eligible so that you can increase your chances of success. Use our user-friendly eligibility test tool to measure your eligibility or call PHONEXXX to get help from a member of our team.

Still have Questions?

Please fill out our inquiry form to discuss your loan requirements, ask a question or just speak about your business finance needs. You can also quickly reach us on PHONEXXX or EMAILXXX. A specialist consultant will contact you to arrange a free consultation. Get in touch with us today.