Sometimes businesses need to go through periodic refinancing exercises, whether changing lenders or banking facilities, renewing overdrafts, obtaining bank term loans, small firms loan guarantees scheme, factoring or capital expenditure requirements. This is normal procedure and viable option for a growing business to undertake.

Asset Refinance - Debt Consolidation

Most businesses depreciate their assets faster than the value of those assets fall. Therefore, there are "unencumbered" assets to lend against. The assets of the business form collateral for the lender to secure themselves against. Assets include, property, machinery, stock and vehicles. Used in conjunction with, say, factoring this method can provide a package of new finance to overcome distress or assist with expansion.

Advantages

It is usually a very quick method, access can be through commercial finance brokers or other contacts. Contact us by email for help if required. Where a short term crisis (say a large bad debt) has occurred this method can help the business round the problem very quickly by efficiently using its assets to raise cash. Better quality assets such as land and buildings can attract good rates if interest. Now plenty of finance available for assets.