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 cash flow fluctuations of seasonal businesses, some lenders are able to offer flexible repayment options – such as Hitachi Capital 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.
How Asset Finance from Hitachi Capital 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.
Why Hitachi Capital (UK) PLC?
Hitachi Capital Business Finance offer a simple online application process with straightforward repayment options, speedy release of funds and no hidden fees. 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, Hitachi Capital (UK) PLC nhas led the way in providing finance to enable consumers and businesses to grow and prosper. What’s more, with our Smart Funding tool businesses can tailor monthly repayments to create a bespoke schedule that reflects your cash flow and the seasonality of your business.
“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