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ASSET REFINANCE
Valuable equipment can sit on the balance sheet while cash is needed elsewhere. Asset refinance may release funds against suitable existing business assets, allowing continued use under the agreed arrangement.
The provider assesses the asset’s value, condition and ownership, together with the business’s repayment ability. Existing finance may need to be settled. The amount released is therefore not necessarily the asset’s original purchase price or its full valuation.
Machinery, equipment and commercial vehicles may be considered. Prepare asset records, purchase invoices, serial numbers, ownership evidence and details of existing agreements. A specialist valuation or inspection may be required.
Compare the cash actually released after settlement and fees with all new repayments. Check security, ownership during the agreement, insurance obligations and early repayment terms. Refinancing can extend the time over which costs are paid and puts the relevant assets at risk if commitments are not met.
It may be possible, but existing finance, permissions and settlement figures must be checked. The new provider will need to understand any prior security.
Tell Milestone what you need to fund, how much you need and when. We can discuss the information relevant to your circumstances. Funding remains subject to provider assessment and agreed terms.
Share your funding requirement and take the next step towards understanding your options.
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Finance is subject to eligibility, status and lender terms. Security or a personal guarantee may be required.