Equipment refinance helps you to release cash back into your business using assets that you own or partly own. Yet despite the useful benefits, it’s an underused financial solution.
Many different industries have huge amounts of capital tied up in machinery or vehicles, especially manufacturing, farming, construction and logistics & warehousing. These assets can have significant value and present business owners with the option of bringing working capital back into their business.
To help those considering equipment refinance (also known as asset refinance), we’ve answered some commonly asked questions to explain how it works and what can be refinanced.
What equipment can you refinance? https://originfinance.co.uk/ev....erything-your-busine
Equipment refinance can only be used on equipment and vehicles, including plant and machinery.
You might think of vehicles as your typical lorries, cars, trucks, buses, and vans, but they also include specialist vehicles such as tractors, forklift trucks, cement mixers, etc.
Plant includes but is not limited to cranes, piling machines, excavators, and heavy machinery used in civil engineering and construction.
If you would like to know if your asset can be refinance, Origin are here to help and create a tailored solution for your finance requirement.
