Refinance is a facility to unlock crucial working capital tied up in an existing asset by selling it to a finance company based on a valuation price and spreading this value over an agreed term of 24 to 60 months.
These repayments are fixed and enable a business to budget effectively whilst injecting capital into the business to develop and grow.
Refinance avoids the need to sell crucial existing assets into the marketplace at a knockdown price.
This facility is documented under a Hire Purchase or Finance Lease facility.
Other types of Asset Finance
Morse Business Finance can provide a number of funding solutions.
Hire
Purchase
Spread the asset cost over an agreed period, gaining full ownership at the end of the agreement.
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Finance
Lease
Spread the asset cost and vat over an agreed period, with ownership typically remaining with the finance company.
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Operating Lease
Spread the asset cost over an agreed period with repayments substantially lower than hire purchase or finance lease. Ownership remains with the finance company.
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Sale & Hire
Purchase Back
Allows a business to sell an asset purchased within 90 days back to the finance company and then spread the original asset cost over an agreed term.
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Refinance
A way to release capital on assets already owned by a business by selling them to the finance company and spreading the valuation cost over an agreed term.
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VAT
Loans
Defer the VAT on asset purchases for up to 4 months on hire purchase or spread the vat over the agreed repayment term on a finance lease / operating lease.
Commercial
Loans
Spread the cost of non-asset related purchases over an agreed term, eg expansion, acquisition, fit-outs, IT upgrades.
Growth Guarantee
Scheme Loans
Available for asset purchases with a 70% government guarantee and spread the cost over an agreed term. Conditions apply.
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