If you have vehicles or equipment that are either unencumbered, or are on finance but have equity in them, we can quickly raise funds against those assets to be used for any purpose.
This product is especially useful for reducing or replacing overdraft or factoring facilities, as unlike bank facilities, our products aren’t ‘repayable on demand’.
The costs are very competitive compared to overdraft funding. Other common reasons for refinancing include the acquisition of:
… or simply providing a buffer for seasonal lean times.
In some circumstances, the assets need to be formally valued, and the advance is tailored around a percentage loan to value (LTV) – very similar to a mortgage. In most cases, a facility can be offered ‘subject to valuation’ with a desktop indication already having been obtained from our valuers to ensure that we aren’t wasting our or your time. Our facilities can range from 70% up to 100% of the LTV, dependant on many factors such as the size of the transaction, the period requested and the saleability of the assets proposed.
Equipment and vehicles that we have refinanced include:
This list is NOT exhaustive. If you are in any doubt as to whether we could refinance
particular equipment or vehicles, please do not hesitate to give us a call.