Why asset finance?
Quite simply, asset finance is an easy way to spread the cost of new business purchases without tying up capital and disrupting cash flow. It is an alternative funding option to an overdraft facility or loan and can be used by any business, whether you are a start-up, SME or a part of a larger corporation.
How does asset finance work?
A business chooses the selected asset they need for their business and the finance provider pays for this equipment outright. In turn the business makes regular payments over an agreed time period, normally between two to five years, to the asset finance provider and at the end of the agreement there is an option to purchase the asset for a small fee. To help with the cashflow fluctuations of seasonal businesses, some lenders are able to offer flexible repayment options – such as Novuna Business Finance’s ‘Smart Funding’ solution for SMEs.
Whilst borrowing isn’t the right method for every business, nor may be paying for an asset in one lump sum. Asset finance can protect working capital which business owners will appreciate is vital to keeping a successful business running.
Why Novuna Business Finance?
As a leading financial services company, we focus on markets where we can provide innovative solutions that require high service levels and a commitment to customer care.
For over 35 years, Novuna Business Finance has led the way in providing finance to
enable businesses to grow and prosper.
What’s more, with Novuna Business Finance, businesses can tailor monthly repayments to create a bespoke schedule that reflects your cash flow and the seasonality of your business.
How Asset Finance from Novuna Business Finance helped Meanwhile Creative
Meanwhile Creative create low-cost office space by installing shipping containers on brownfield sites and taking on redundant buildings. These are used by a range of businesses, from graphic designers and baristas to radio stations and illustrators. They
were looking to grow their Bristol-based business by expanding to other major cities around the UK.
With our funding support, Meanwhile Creative were able to acquire an array of new shipping containers and provide the SME community of Cardiff and Manchester with bustling office and studio spaces.
“One piece of advice that I would give someone starting a new business is to find a financial partner that understands the particulars of the way that you work.”
Emily England, Meanwhile Creative Site Manager
