Raising working capital to purchase vital assets for your business can be a challenge. But with asset finance, you can acquire the assets you need immediately by offering that asset or an existing asset as collateral on a loan. That way, you can put it to work earning money that you can then use to cover your small monthly payments.
Asset finance is a fast and effective low-risk strategy for growing your business. But many business owners aren’t sure what business assets they can get on finance. To help you plan for your future success, let’s take a look at some of the most popular.
Types of business assets you can get on finance
Agricultural finance
Modern agricultural and farming businesses require a lot of expensive equipment to meet customer demand. That’s true whether you’re raising and caring for thousands of animals or growing crops across many acres of land. With agricultural finance, you can fund the assets you need to run your operation efficiently.
Key assets: Tractors, livestock handling and feed systems, planting machinery, food processing units and grain stores
Catering equipment finance
High-end appliances, equipment and facilities don’t just help reduce operating costs. They also raise the quality of your products and let you diversify your menu, helping you build a better reputation. That’s why restaurants, pubs, cafes, takeaways, hotels and other food and beverage outlets rely on catering equipment finance to upgrade or expand their enterprise.
Key assets: Refrigerators and freezers, cooking equipment, vending machines, restaurant furniture, cold rooms
Energy finance
Investing in renewable energy lets you save on fuel costs and become an industry leader in environmental sustainability. But many high street lenders aren’t prepared to approve loans for these relatively new technologies. That’s why it’s vital to seek energy finance options with market-leading terms through a reputable asset finance broker.
Key assets: Solar panels, wind turbines, LED lighting, heat pumps, biomass boilers
IT equipment finance
Fast and reliable IT equipment is vital for almost any business. But the upfront costs can often be prohibitively expensive. With IT equipment finance, you can outfit every department with the machines they need to communicate and manage complex digital tasks.
Key assets: Computers, software, mobile devices, printers, servers and hosted systems
Gym and leisure finance
The UK fitness industry is worth around £5bn, with gyms, leisure facilities, spas, hotels and sports centres all competing for customer memberships. Gym and leisure finance allows you to fill your premises with the latest and greatest equipment to boost your customer base and increase your profits.
Key assets: Exercise machines, free weights, sports facilities, massage tables, sound and lighting systems
Office equipment finance
Offices demand a wide variety of equipment to operate effectively. That often means dealing with invoices and payment plans from dozens of providers. But with office equipment finance, you can get all the equipment you need from your preferred providers under one easily managed payment plan.
Key assets: Office furniture, computer hardware and software, storage systems, printers, scanners
Industrial equipment finance
Equipment used in mining, construction, manufacturing and fabrication come at price points that easily exceed most other industries. Saving the capital you’d need to buy these outright would slow your business and give your competitors room to overtake you. Instead, it’s better to leverage industrial equipment finance to get the equipment you need right away and use it to increase your profits.
Key assets: Vehicles, generators, industrial heaters, robotics, tools and fabrication equipment
CCTV and security finance
Reliable security equipment is vital for protecting valuable assets and sensitive information. So don’t leave your business at risk while you raise the capital you need to invest in better security. Instead, use CCTV and security finance to fund protective measures and focus your efforts on other aspects of your business.
Key assets: CCTV cameras, cybersecurity systems, clocking-in systems, alarm systems, door entry systems
Construction equipment finance
The high income potential of construction firms comes at the cost of extremely expensive equipment. This can make it almost impossible to start or grow a construction company at pace. That’s why many firms rely on construction equipment finance to fund costly asset purchases.
Key assets: Cranes, excavators, trucks, scaffolding, aerial work platforms
Laundry equipment finance
Whether you run a dedicated laundromat or offer a hotel laundry service, top-of-the-range equipment is vital for delivering a quality service. As well as attracting more business, acquiring quality machines through laundry equipment finance also allows you to reduce operating costs and improve your profit margin.
Key assets: Washers and driers, ironing equipment, extraction systems, folding machines, vacuum finishing tables
Transport equipment finance
Dependable and affordable transportation is key to businesses of many different industries. Upgrading your fleet through transport equipment finance lets you save money with greater fuel efficiency and keep your vehicles in top condition.
Key assets: Light commercial vehicles (LCVs), heavy goods vehicles (HGVs), cars, vans, buses
Education finance
The quality of the equipment at your school, college, academy or university has a huge impact on the learning potential of your students. But complex rules and regulations demand that this equipment be accessed and paid for in a certain way. Education finance makes it easier to get a competitive rate, relieving the strain on your limited budget.
Key assets: Classroom furniture, computers, playground equipment, IT equipment, security equipment
Health and beauty finance
People visit health spas and beauty salons to relax, rejuvenate and leave feeling refreshed. The better your equipment, the better the treatment you can provide and the better your reputation becomes. With health and beauty finance, you can afford state-of-the-art equipment and expand the range of services you offer.
Key assets: Styling tools, beauty products, tanning beds, hair removal equipment, towels
Aviation finance
The initial purchase of aviation equipment is just one expense. You also need to run, maintain and where necessary upgrade your aircrafts to stay in business. Aviation finance makes it much easier to cover these costs and expand your business.
Key assets: Light planes, helicopters, hot air balloons, commercial drones, flight simulators
Marine finance
Sailing is one of life’s finest luxuries. And those who seek such luxury expect the best service and facilities for the money they spend. By building a diverse fleet through marine finance, you can continue attracting high-paying customers and boost your profitability.
Key assets: Sailing yachts, sports boats, commercial working boats, large motor cruisers, barges
Enjoy exclusive asset finance rates with Kane Financial Services
Asset finance is a quick, effective and low-risk way to purchase vital assets for any kind of business. But while you could go to a high street lender, the very best rates and terms are exclusive to the broker community.
As a leading independent asset finance broker, we’ve spent more than 35 years finding market-leading rates and terms for businesses throughout Northern Ireland and the UK. Apply for asset finance online to get a quote or contact us today for a free no-obligation consultation to discuss the best business finance options for you.