FINANCE OPTIONS

^Asset Finance for Health Businesses – Get a Quote Today

Q: How much can I borrow with asset finance?

Asset finance allows borrowing from £5,000 to £1,000,000, dependent on asset value and business creditworthiness. Contact us to explore your financing options tailored to your needs.

Q: How quickly can I get a decision on asset finance?

Decision times typically range from 1 to 7 working days, with funds available 2 to 10 days post-approval, enabling quick access to needed capital.

Q: What are the typical interest rates for asset finance?

Interest rates usually range from 3% to 15% APR. The exact rate is determined by the asset type, value, and your business’s credit score.

Q: What are the eligibility requirements for asset finance?

To qualify for asset finance, a business must usually be UK registered with a good credit score, and demonstrate asset ownership or clear asset value for refinancing.

Asset Finance for health businesses allows these enterprises to secure necessary equipment or vehicles without a significant initial capital outlay. By leveraging existing assets, health businesses can preserve cash flow and maintain operational efficiency. Commonly used for acquiring medical equipment or vehicles, asset finance plays a vital role in the health sector.

Secure up to £500,000 in Asset Financing with Funding Agent.

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What are the ^benefits of Asset Finance for Health Businesses?

Utilising asset finance offers key benefits including improved cash flow through cost spreading, the preservation of working capital, and potential includes in maintenance agreements. Decisions are typically swift, with funds available shortly after approval, enhancing business agility and capability.

Improves cash flow

Enables quick equipment upgrades

Accessible financing options

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What are the different types of Asset Finance for Health Businesses?

Leasing

Leasing allows businesses to access assets without purchasing them outright, ranging from £5,000 to £500,000 over 12 to 60 months. Eligible businesses are usually UK registered with relevant trading history.

Leasing

Leasing is ideal for medical clinics or dental offices needing diagnostic tools, with decision times of 1 to 5 days. It requires asset valuation and credit checks, potentially needing additional documentation.

Hire Purchase

Hire Purchase provides a path to ownership, suitable for purchasing medical devices. Loans range from £10,000 to £1,000,000, repayable over 12 to 84 months. Companies must typically offer a personal guarantee and possess substantial trading histories.

Hire Purchase

Favoured by physiotherapy practices, Hire Purchase involves rigorous assessment, with eventual ownership after all installments. Decision times range from 1 to 7 days, hinging on credit checks and financial statements.

Refinancing

Refinancing frees up capital tied in assets. Suitable for already owned assets with clear value, amounts range from £15,000 to £750,000 over 6 to 48 months. Businesses must prove ownership and have UK registration.

Refinancing

Beneficial for veterinary practices, refinancing requires asset valuation and credit review, offering a decision window of 3 to 10 days. It's designed to free up resources in existing assets like diagnostic tools, enhancing capital availability.

What is Asset Finance for Health Businesses?

Application Process and Timescales

The application process involves detailed business financials and asset valuations, usually deciding within 1 to 7 days. Following approval, funds become available in 2 to 10 days, contingent on thorough documentation and asset types.

Regulatory and Compliance Aspects

Asset finance must comply with FCA regulations, especially for consumer credit. Safety and compliance, such as asset valuation and ownership verification, are paramount, aiding legally sound finance access. Our expertise ensures adherence to regulated standards.

Borrowing Capacity and Interest Rates

Borrowing amounts depend on creditworthiness and asset value, with minimal finance starting at £5,000. Interest ranges between 3% to 15% APR, influenced by terms and economic conditions. Explore options to achieve competitive rates.