We will need to see evidence that the hire purchase or lease finance is in place together with an invoice from the supplier in our name – we would also seek an independent valuation on the asset being purchased and would want an undertaking from the hire purchase or lease provider to send their finance proceeds directly to us once the finance is drawn.
We will be happy to consider Asset Bridge Finance to help with purchases ranging between £25,000 and £200,000 per transaction – we will have to restrict our finance to the amount of the independent valuation we would request for any given asset.
We will require an unsupported personal guarantee from all directors/shareholders, as well as a debenture against your company. If you are already working with another funder e.g. an invoice finance provider, then we will be happy to liaise with them to agree appropriate priorities between the respective debentures.
As always, we will try and remain as flexible as we can, and we will consider each individual deal on its own merits. The general rule of thumb is that we will fund a transaction up to 90 days, although the preference would be for up to 60 days.
In order to provide the finance required to purchase the new plant or machinery for you, we must have sight of a contract between you and the end financier. This is essential to ensure we have an exit route, and also to make sure the fees being charged to you won’t be prohibitive.
If you require any help submitting your application, please call us on 01244 561343.
We are available Monday-Friday, 09:00 - 17:00