Business Asset Financing – What is it?

Techn22 Asset Management

Business Asset Finance allows your business to purchase assets such as IT Equipment by spreading the cost over a period of time, allowing you to grow your business efficiently – NO expensive one-off capital costs.

Deciding to spend what could be a significant level of cash may seem daunting and the inexperience of deciding what you need can be a minefield, but our Virtual IT Director service can help you navigate this easily and efficiently. 

There are many benefits of Business Asset Financing:

  • A great alternative to a traditional bank loan
  • Increased tax benefits
  • Payments can be budgeted against your cash flow
  • Lenders secure against the asset

Our experts at Techn22 can advise on:

  • Hire Purchase – allows you to buy an asset and pay for it over a given period of time, spreading the cost via an agreement with a finance company. An initial deposit is payable; and
  • Finance Lease – a rental agreement through which an asset can be obtained for a fixed term. At the end of the initial term, the agreement can be extended, or the asset sold with a rebate of the sale proceeds to the client.

There are however several considerations you will be required to produce before any application.

Management Accounts are really important. These will need to be as up to date as possible including a comprehensive list of all creditors, debtors and assets. You will also possibly be required to produce a cash flow forecast.

Our vIT Director service can also help you manage your IT infrastructure ensuring you have the right equipment at the right price for the right people. Please get in touch for a chat through your requirements.

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