FINANCE OPTIONS

^Equipment Finance – Get a Quote Today

Q: How much can I borrow with Equipment Finance?

Equipment Finance typically offers borrowing amounts from £5,000 to £2,000,000, influenced by your company's creditworthiness, revenue, and equipment value. Solutions include leases and hire purchase options tailored to business needs.

Q: How quickly can I get a decision on Equipment Finance?

Decisions for Equipment Finance vary by type: 1 to 3 business days for leases and hire purchases, and up to 1 week for operating leases. Upon approval, funds or equipment are provided within 1 to 5 days.

Q: What are the interest rates for Equipment Finance?

Interest rates for Equipment Finance range from 3% to 20% APR, influenced by credit score, loan term, equipment type, and lender policy. Additional fees such as arrangement or early termination fees may apply.

Q: What are the eligibility requirements for Equipment Finance?

Eligibility for Equipment Finance includes having an operational history of at least one year and a positive cash flow. Specific products like Hire Purchase may require a VAT registration number, tailored to UK-based SMEs.

Equipment Finance offers UK-based SMEs a way to acquire vital business equipment through various financial solutions. This approach allows businesses to rent, use, or purchase equipment without a large upfront investment, thus conserving working capital. Common applications include leasing machinery or tech systems, which can significantly aid growth by maintaining cash flow. Discover more about tailored business funding options.

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What are the ^benefits of Equipment Finance?

Choosing Equipment Finance not only helps maintain your company's cash flow but also offers several benefits such as tax advantages—where some leases are fully deductible—and competitive rates ranging from 3% to 20% APR. Decisions are swift, often within 1 to 3 business days, allowing businesses to acquire equipment like commercial kitchen appliances or IT systems promptly. Explore how these solutions can support your growth by visiting our unsecured working capital loans page.

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What are the different types of Equipment Finance?

Equipment Lease

An Equipment Lease allows businesses with a minimum of one-year operational history to acquire necessary equipment quickly, with typical funding amounts ranging from £5,000 to £2,000,000 over terms of 24 to 60 months. For more information, explore business loans.

Equipment Lease

Equipment Lease is pivotal for sectors like manufacturing and hospitality, enabling SMEs to lease machinery or appliances without significant capital investment. With interest rates between 3% and 20% APR, decisions are usually made in 1 to 3 business days. To delve deeper into options like commercial kitchen or manufacturing tools, check our detailed lending resource on unsecured business loans.

Hire Purchase

Hire Purchase enables UK SMEs, especially those with a VAT registration, to gradually own business equipment. This option typically offers amounts from £5,000 to £500,000 over 12 to 72 months. Explore the complete process.

Hire Purchase

Particularly beneficial for acquiring assets like IT equipment or vehicles, Hire Purchase offers flexible repayment structures to match business cash flow. Interest rates generally range between 4% and 15% APR with 2 to 4 business days needed for approvals. For logistics companies acquiring delivery vans, visit our working capital loans section.

Operating Lease

Operating Leases are ideal for SMEs seeking temporary use of equipment, ensuring flexibility for short-term projects without ownership commitment. Standard agreements span 6 to 36 months. Learn more about short-term equipment use at our MCA loans page.

Operating Lease

An Operating Lease suits industries needing seasonal equipment like additional servers during peak times. This lease type allows usage without tying up capital. Approval takes 1 to 2 weeks. For a detailed comparison on short-term equipment leasing, visit the Amazon Alternatives page.

What is Equipment Finance?

Application Processes for Equipment Finance

The application process for Equipment Finance involves submitting a business case, financial records, and completing a credit check. This typically spans 1 to 3 business days for leases and hire purchases. Streamlining the process can significantly expedite access to funds, so review our loan application dictionary.

Regulatory Requirements in Equipment Finance

Equipment finance providers must comply with the Financial Conduct Authority (FCA) guidelines to ensure fair dealing and transparency in agreements. Ensuring regulatory compliance protects businesses from unfavourable terms. Explore compliance requirements further in our just cashflow reviews.

Borrowing Capacity and Interest Rates

Determining your borrowing capacity involves assessing revenue, credit score, and equipment value—the factors influencing interest rates which typically range from 3% to 20% APR. Comprehensive understanding of these elements can help secure favourable terms. Learn how these factors impact your funds' accessibility at borrowing details.