Asset finance comes in many forms but in its broadest sense it is a finance solution that enables businesses to borrow money against an asset they have or to borrow money to buy an asset with asset used as collateral. A mortgage is in many ways a form of asset finance as the house (the asset) is used as collateral to borrow the money to buy the house.
There are two main reasons for looking at asset finance. The first is to help businesses to buy expensive assets such as lorries, plant equipment, machinery for factories, drilling equipment to name just a few examples in which asset finance is used.
The second reason for asset finance is to help raise money by releasing the money tied up in valuable assets by borrowing money against a valuable asset to use for expanding the business.
Two Great Benefits of Asset Finance:
Asset finance is a niche of finance and here a few of the companies that supply this type of finance.
These are just a few of the companies that offer this type of finance and it is as usual always worth shopping around when looking for any type of finance service and asset finance is no exception.