Speak To Us Today!
Row of transport vehicles purchased using asset refinance solutions

Definition of Refinancing

“Refinancing is a way of raising cash against assets that a business already owns. A finance provider will value the asset, and advance a sum of money that is secured against it, and can be repaid in monthly payments.”

Refinancing existing assets

If you need capital, for any business purpose, and you have assets within your company, whether those assets are machinery, equipment, vehicles or other high- value items, we can find refinancing solutions to provide the boost that you need. Refinancing provides flexible asset finance secured against high-value items, which can be repaid in manageable instalments.

It’s not unusual for companies to invest in costly equipment when times are good, but then find themselves cash poor if trade hits a lull. If that scenario sounds familiar, then refinancing your assets could free up the funds you need, for whatever you need them for, from a big marketing drive to specialist staff training.

Refinancing offers the best of both worlds, as opposed to selling off assets, because you can still use the asset in question at the same time, as capitalising on a cash injection straight into your business.

Lending based on the value of your assets not your financial past

As the finance is secured against an asset, lenders are often more interested in the credentials of the item that you are refinancing than your financial past, so this is a good option if you, or your business, has had problems obtaining credit in the past. Our experienced team will assess the of the item that you wish to borrow against to determine its value to try and find the most suitable lender and product.. Original copies of paperwork and certification will be very useful in assessing the true value of your assets, and in some cases the lender may arrange an independent valuation.

Refinancing against assets you already own is a simple, straightforward way to free up cash within your business. Repayments will be made on a monthly basis in affordable instalments, and as long as you stick to the payment schedule you will retain use of your asset while still enjoying the extra capital.

Think carefully before refinancing assets as your loan will be secured against the asset.  Failure to keep up repayments may have a detrimental effect on your credit standing and could put your asset at risk.

Refinancing is perfect for any business that is short on cash but has high-value assets. Some of the solutions we have provided include:

  • Refinancing of plant machinery
  • Refinancing of fleet vehicles

Call us today on 03330 069 141 to find out if refinancing your assets could give you the extra funding you need to expand and flourish.

Our Latest Blogs

  • What is alternative finance and how can it help your business

     

    Alternative finance is a broad term, encompassing many types of finance solutions. At first, the term and the products it includes may seem daunting, but once understood, they reveal themselves to be credible and potentially beneficial for businesses of all types.

  • Is it possible to get a small business loan after bankruptcy?

     

    Bankruptcy is a legal status applied to a person who is unable to repay their debt. It offers a fresh start for those whose debts have become completely unmanageable, although it can have serious implications for applicants’ personal and professional lives. When bankrupt, a person will be absolved of the responsibility to deal directly with their creditors, most court action aimed at reclaiming their debt will be dropped, and many debts can be written off (student loans and legal fees cannot be).

  • Alternative Funding Solutions for the Transport and Logistics Industry

     Transport and logistics is an ever-changing industry, especially now as we sit on the cusp between the current dominance of traditional vehicles (fuelled by petrol or diesel, driven by a human) and new technologies that could potentially transform the norms (electric and self-driven).

Hot from Twitter

In order for your #business to grow, it is likely that at some stage asset #finance will be offered. So why should you choose it and when is it better than traditional bank #lending? This guide is everything you need to know about using #assetfinance: bit.ly/2qK79I6 pic.twitter.com/Fdjg…

Yesterday from Access Commercial's Twitter via HubSpot · reply · retweet · favorite

NACFB logo
Contact Access Commercial Finance Today