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Millbrook Asset Finance

  • Competitive Rates Available

  • Repayment terms up to 7 years

  • Finance for any asset or equipment

  • Finance from £5,000 - £10M

  • Fixed monthly repayments

  • Finance for any sector

Business Asset Finance Industry Specialist

Business asset finance allows you to access valuable equipment, machinery, and vehicles that stimulate your business’s growth. Without interrupting your cash flow, you can invest in essential assets using equipment funding to improve how your operations perform.

The two main types of fast, flexible asset finance solutions or ‘finance leases’ are hire purchase finance and hire purchase loan. Refinancing is also another form of business asset finance which is useful for heavy equipment leasing. Depending on your requirements, the best option varies, however, both solutions ensure you have a simple and secure way of investing working capital into important aspects of your business.

Key Benefits

  • Reduce Upfront Costs
  • Access Funds Quickly
  • Effective Equipment Funding
  • Fixed Monthly Repayments
  • Sustain Working Capital
  • Low Interest on Equipment Financing Rates
  • Flexible Deposits and Repayment Terms Available

Business Asset Finance

Business Asset Finance

Types of Business Asset Finance Services We Offer

Hire & Lease Purchase Finance:

Is the most recognised form of asset finance and is used by individuals and businesses who wish to own the asset. A loan secured against the asset which is paid for in regular instalments. You have full use of the asset whilst paying the loan, and ownership transfers when fully paid for. Options include VAT deferment, seasonal payments, balloons, fixed and variable payments and minimal deposit deals.

Finance Lease:

This differs from Hire Purchase; you will have full use of the asset without ownership. The finance company owns the asset and is rented to you over an agreed period. VAT is payable on the rentals and upon completion of the agreement you can retain the use of the asset by paying a secondary period rental or sell the asset to a third party or hand the asset back to the finance company. Leasing can also be tax efficient as rentals can normally be offset against taxable profits.

The Benefits 

  • Flexibility – Keep, sell, or return the asset once the agreement is completed
  • Efficient – Access equipment when you need it quickly, without compromising cash flow
  • Grow Your Business – Inject cash into your business to stimulate growth without taking away investment from other crucial aspects of your company
  • Helping you with the right type of finance
  • Working together with you

Helping you with the right type of finance

Working together with you

Refinance:

This is a finance facility which provides a simple way of releasing equity in unencumbered assets or assets nearing the end of their original finance agreements. Refinance can give a boost to the working capital requirements of your business and the funds can be used for a variety of different reasons including business expansion, capital injection, paying tax or restructuring existing finance agreements to reduce monthly outgoings. Refinance agreements are structured using either Hire Purchase or Finance lease agreements.

The Benefits

  • Low Initial Outlay – Secure your assets fast without a large initial outlay
  • Exclusive Access – Use the asset whenever you want without having to purchase it
  • Complete Freedom – Only pay for part of the asset’s lifespan

How to Apply for Asset Finance

Step 1
Enquiry – Submit an enquiry via our online form or speak to an account manager by calling 0333 015 3301.

Step 2
Application – An application for finance will be submitted to an underwriter with a decision granted typically within 48 hours.

Step 3
Approval – Finance Approved. A copy of your finance agreement is sent to you for completion.

Step 4
Payout – Upon receipt of your signed agreement we process, activate and release funds.

Check My Eligibility

Funding British Businesses

Funding British Businesses

At Millbrook Business Finance, our dedicated asset finance industry brokers are committed to helping fund British businesses to support their growth and expansion. The foundation of British business is small, medium, and large companies that drive the nation’s economy. Through our team’s in-depth insight and years of experience working with ambitious businesses, we secure commercial asset financing options that deliver tangible benefits to our clients no matter the industry.

We support British businesses through our competitive finance rates on finance lease, hire purchase and refinance agreements with a simple application process. Our flexible asset finance brokers use their decades of experience to deliver finance agreements for any sector. Whatever your requirements, we work with your business to secure finance that helps you achieve your goals and stimulate growth.

Invest in your business to grow and succeed, and secure finance that benefits you today. Whether you want to secure an industry-leading hire purchase finance, loan/leasing, or refinancing agreement, Millbrook’s team can deliver the best deal for your requirements. Call us at 0333 015 3301 or visit our contact page to fill in an enquiry form.

Compare Asset Finance FAQs

What types of asset financing are available?

Asset-based financing, or equipment financing, is a type of lending that is used by UK businesses to acquire equipment, machinery, plant, vehicles, refurbish premises etc. The assets/equipment being purchased act as security to the lender on the facility being provided. 

There are a number of different asset-based financing options available, including hire purchase finance, finance lease and refinance. Hire purchase finance, is where you effectively spread the cost of an asset over an agreed period of time, with the option of ownership at the end of the term. This type of financing is ideal for businesses that need to acquire new resources or equipment but may not have the upfront capital to do so.

Hire purchase facilities are a type of asset finance in which you borrow money to buy the assets outright, but make monthly repayments like you would with any other loan.

How flexible is asset financing?

Asset financing is a very flexible form of financing. It can be used for almost any legitimate business purchase and even for the fit out and refurbishment of a premises. Asset finance terms generally range from 1 – 7 years and can be obtained by any type of business; including but not limited to Ltd companies, Partnerships and Sole traders.

Can a limited company get asset finance?

Yes – a limited company can get asset finance. The company will need to provide details of the assets being purchased and the terms of the finance agreement will be agreed between the company and the financier.

The main benefit of asset finance is that it can help a company to grow its business by providing funds to purchase new or used assets. The company will need to make regular repayments on the debt, but this can be offset against the profits generated by the new assets. This type of financing can be very helpful in times of uncertainty when traditional forms of finance, such as bank loans and overdrafts may not be available.

What costs are involved with asset financing?

There are typically two types of costs involved in asset financing: administrations/documentation fees and interest rates. Administrations/documentation fees are one-time charges that are assessed by the lender in order to cover the costs associated with processing and approving a loan. Interest rates are charges that are assessed on a periodic basis in order to cover the cost of borrowing money.

Both origination fees and interest rates can vary depending on the lender, the amount being financed, and other factors relating to each individual case.

Why would a business apply for asset finance?

There can be a number of reasons why a business might apply for asset finance. Perhaps the company needs to purchase new equipment or vehicles in order to grow its operations, and it doesn’t have the cash available to make the purchase outright. Perhaps they need to replace or upgrade an outdated piece of equipment. Or maybe they have recently expanded into new premises and need to finance the entire fit out of the premises before taking possession. 

Whatever the reason, asset finance can be a great way for businesses to get the funding they need in order to expand and grow. The application process is usually pretty straightforward, and approvals are often granted quickly. So if you’re looking for a way to finance your business’ growth, asset finance might be a good option for you.

Millbrook Sector Experience

The team at Millbrook Business Finance have decades of experience arranging and comparing Asset Finance. We are so confident in our team, their ability and can-do attitude that we confidently say…. “we can finance any asset for any sector, no matter how obscure”. Please see below a list of sectors that we can cater for. If you operate a business outside of these sectors we would love to hear from you, perhaps we can help finance your next purchase and add to our sector experience?

Why Millbrook Asset Finance?

Flexible Asset Finance Specialists

We have decades of Asset Finance experience and can compare and finance any asset for any sector.

Competitive interest rates

Our asset finance interest rates are extremely competitive.

Speed

We can obtain Asset Finance approvals in under 24 hours.

Simplicity

Our application process is straightforward.