Updated: Nov 22
Are you a business owner seeking a smart and efficient way to access capital without parting ways with your valuable assets? Asset refinance might just be the financial solution you need. Approved Finance Group is here to guide you through the process, offering a seamless experience that can help you unlock the potential within your existing assets. In this guide, we'll take you through the ins and outs of asset refinance and answer some frequently asked questions along the way.
TABLE OF CONTENTS
WHAT IS ASSET REFINANCE?
Asset refinance is a financial arrangement that allows businesses to use their owned assets as collateral to secure a cash injection. Unlike selling assets, refinance enables you to retain the use of your assets while releasing the tied-up capital within them.
A form of Asset Refinance that can prove particularly popular is Sale and HP/Leaseback. It's a simple strategy where the lender will purchase the asset from you and finance it back to your business. Depending on your requirements, it's also possible to own the equipment outright at the end of your agreement.
Asset Refinance can be used for assets traditional hard assets such as; Commercial and Business Vehicles, CNC Machinery, Plant Equipment, Fort-lifts. What can you use your unlocked funds for? Whatever your business needs! In many ways, this finance product is a no-brainer if your business has valuable assets.
WHY CHOOSE ASSET REFINANCE?
There are several compelling reasons to consider asset refinance from Approved Finance Group:
Quick Access to Capital
Asset refinance provides a swift and convenient way to access capital, giving your business the financial flexibility it needs.
Improved Cash Flow
The released funds can be used to improve cash flow, invest in expansion, settle debts, or handle unforeseen expenses.
Your business can continue to use the assets, ensuring operational continuity and efficiency.
Flexible Repayment Options
We offer customisable repayment plans that align with your business's cash flow and goals.
ASSET REFINANCE FAQ:
What types of assets can be considered for refinance?
Most tangible business assets can be considered, such as machinery, vehicles, equipment, and more.
How does asset refinance differ from selling assets?
Asset refinance allows you to retain the use of your assets while accessing capital. Selling assets involves giving up ownership entirely.
What are the benefits of asset refinance over traditional loans?
Asset refinance provides a more accessible route to capital with potentially lower interest rates, leveraging the value of your assets.
Will my business's credit history affect the approval process?
While credit history is considered, asset refinance is secured by the asset itself, making approval more achievable than unsecured loans.
Can I refinance multiple assets?
Yes, you can refinance multiple assets, provided they meet the necessary criteria.
How long does the asset refinance process typically take?
The timeline varies, but the process is often quicker than traditional loan applications, allowing you to access funds sooner.
HOW DOES IT WORK?
We keep our business finance options transparent - no hidden fees or nasty surprises. This is business finance made easy. Our no-obligation application won't impact your credit score.