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Use of asset finance shows robust growth

22/01/2015 / Comments 0

Use of aset finance shows robust growth

A growing number of UK businesses are realising the benefits of asset finance, according to new data.

There was 12% growth in asset finance new business in November 2014, compared with the same month the previous year, the latest figures released by the Finance & Leasing Association (FLA) show.

The figures also revealed that the annual total of new asset finance facilities passed £25 billion for the first time in more than five years.

Compared with November 2013, the data showed robust growth in several asset finance sectors. Plant and machinery finance grew by 14% to £389 million, business equipment finance was up by 25% to £192 million and IT equipment finance increased by 40% to £122 million.

And, with our research showing that businesses that use invoice finance or asset finance are outperforming their peers, we’re not surprised to see increasing numbers of firms taking advantage of asset finance in order to expand their business and move it to the next level.

Here’s a brief overview of some of the asset finance options available and their benefits:

Hire purchase

Allows businesses to hire an asset over a fixed period of time in return for regular payments. Once the repayment period of the hire contract is completed, full ownership of the asset is transferred to the business.

Read more here…

Finance lease / Operating lease

These leases are suitable if a business needs a particular piece of equipment for a limited period. Again, the business makes regular payments throughout the duration of the lease, but hands the asset back to the lessor at the end of the repayment period. While maintenance costs are the business’s responsibility with a finance lease, an operating lease sees the responsibility transferred to the asset finance company, meaning the business avoids any unexpected costs.

Here’s more information…

Asset refinance

A business can sell its equipment to an asset finance company and lease it back in return for rental payments.

Find out more…

As a commercial finance broker specialising in asset based finance, Hilton-Baird Financial Solutions can introduce the most suitable solution for your business. To find out more about how asset finance could help your business, call our team on 0800 9774833 or email info@hiltonbaird.co.uk.

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Funders we work with

  • Metro Bank SME Finance
  • Hitachi Capital Invoice Finance
  • Ashley Commercial Finance
  • IGF Invoice Finance
  • Royal Bank of Scotland
  • Asset Advantage
  • Roma Finance
  • Regency Factors
  • Positive Cashflow Finance
  • Calverton Finance
  • Davenham Asset Finance
  • Shawbrook Business Credit
  • Skipton Business Finance
  • Secure Trust Bank
  • Trade Finance Partners
  • 1pm
  • Ultimate Finance Group
  • Barclays
  • Team Factors
  • Nucleus Commercial Finance
  • Amicus Commercial Finance
  • iwoca
  • Davenham Trade Finance
  • GapCap Cashflow Finance
  • ABN AMRO Commercial Finance
  • Close Brothers Invoice Finance
  • Innovation Finance
  • Market Invoice
  • Working Capital Partners
  • Factor 21
  • Outsauce
  • Invoice Cycle
  • Lloyds Bank Commercial Finance
  • Platform Black
  • Everline
  • Henry Howard Cashflow Finance
  • Leumi ABL
  • Creative Capital
  • Woodsford Tradebridge
  • Catalyst Finance
  • Partnership Invoice Finance
  • Santander Corporate & Commercial
  • Bibby Financial Services
  • Pulse Cashflow Finance
  • Assetz Capital
  • Aldermore Invoice Finance
  • PNC Business Credit

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