Product Description
Equipment Finance is a loan dedicated to the purchase of any kind of office equipment. It has been designed to:-
- Spread the cost of an asset over its useful life
- Offer considerable cashflow advantages
- Enable rentals to be offset 100% against taxable profit
- Offer accelerated tax allowances
- Provide an additional line of credit.
- Product Benefits
Equipment Finance offers a number of distinct advantages to clients. These include:-
- Controlling capital expenditure – you can take advantage of the latest office technology – without committing yourself to high capital expenditure
- Comprehensive application – it may be used to purchase computer systems, telecommunication equipment, office furniture, partitioning, carpets, security systems, lighting and more
- Option on ownership – you may choose to own the item(s) when the contract ends or opt for a tax efficient lease agreement
- Flexible repayment periods – funding arrangements, with a low initial outlay, are usually repaid over periods of between 1 and 7 years, depending on the useful economic life of the item itself
- No limits on use – you have the option to use the asset for as long as you choose.
If you do not feel that a loan is the best way forward when purchasing equipment for your business then there are other options available to you.
We can fund most assets that your business may purchase using:-
- Lease Purchase (LP)
- Hire Purchase (HP)
- Finance Lease (FL)
Each of these products have different advantages and disadvantages. For example, with “LP” and “HP” the VAT aspect of the purchase is paid upfront but with “FL” the VAT is spread across the term of the agreement. If you want to know more about the various options available to you then please contact us.
If you wish to raise funds against equipment that you wholly own then a Sale & Lease-back may be the best option for you.
SEE ALSO :-
Sale & Lease-back
Unsecured Practice Loan
