Refinancing can be valuable asset
09:27 09 November 2015
Asset refinance is a popular way to free up your business capital, says Simon Gray, of Credo Asset Finance.
The mad month of September, with the launch of the new 65 registration plate, is behind us but cars, vans and trucks are making up most of the finance we are arranging at Credo Asset Finance.
Most people buying a new vehicle no longer need their old one, but the days have gone when you simply traded it in to the dealer or sold it privately.
Not everyone looking to sell their vehicle does so as they are getting a new one. With banks seemingly more reluctant to increase overdrafts or loans, sometimes the sale is a need to release cash. But what if you or your business needs cash and the vehicle?
Asset refinance is a popular, cost-effective way for businesses, especially small ones, to raise money. A record number of businesses are embracing this innovative form of financing rather than relying on other more expensive and less secure forms of lending. Asset-based finance can be used to help businesses struggling with cash flow issues but it is also a positive means of driving investment in future growth. The finance company raises the funds against the asset and what you then do with the funds is up to you.
Credo can arrange asset refinance on all ‘unencumbered assets’ – assets with a worth not owned by anybody else – or all your existing finance agreements where we can settle the balance with the original funder, and spread the cost over a new agreement with a more manageable term or payment. Freeing capital tied up in assets gives give you the freedom to expand or restructure at a competitive price with no restrictions.
In financial matters, there has never been a wider range of options and, even in difficult circumstances, you probably have more options than you think – another advantage of talking to an independent financial broker.
We offer true, honest advice and are always available to talk about your situation. If asset refinance interests you to release capital, or you need a quote on financing your new car, give us a call and we will be delighted to talk.
Article sponsored by Credo Asset Finance.
Credo Asset Finance, 85 Yarmouth Road, Norwich, NR7 0HF.
Phone 01603 703180.
Twitter @Credo Finance