Originally written by Conrad Ford on Small Business
Following the 2007-8 financial crisis, financial services were shaken up and a much wider variety of funding types became available to businesses.
The only downside is that there’s now so much choice available that it can be difficult to know where to begin, but with a bit of research, you can soon get a grip on the finance that’s right for your business.
One of the areas which has seen big changes in recent years is asset finance.Here we give you a brief guide to the finance available for when you need to buy new equipment or assets for your business.
What is asset finance?
Asset finance relates to the way you pay for the physical assets in your business, whether that’s to help you get new assets (asset finance), or money loaned against your existing assets (asset refinance).
See also: How to find the right finance for your business
Assets can be anything that’s vital to the operation of your business, such as large-scale plant or machinery, any type of vehicle or fleet of vehicles, catering equipment and even commercial premises.
Because of the added security it provides, there’s plenty of flexibility available with asset finance products, such as seasonal
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