Asset finance for the engineering industry

The engineering industry is central to ensuring sustainable economic growth.

However, serious investment will be necessary to generate such growth and the industry is facing challenges that could hinder progress. Issues such as rising energy costs, legislative burdens and difficulty in accessing finance could all make investment difficult.

Our team work in partnership with brokers to create finance packages that will help their customers invest in new and used engineering equipment.We understand how vital it is that businesses in this industry have the right equipment, so whether it be to expand the range or replace it, we can help.

Grow a business with asset finance

Asset finance is a solution that can help spread the cost of purchasing additional plant and machinery with a low initial outlay. It can also unlock the value of current assets and equipment to provide a cash boost to a business.

Benefits of asset finance include repayments that match the income stream generated by the asset, tax breaks and increased working capital.

Benefits of working with us include:

  • Industry expertise that is second to none
  • Excellent level of customer service
  • Access to our relationships with large manufacturers and retailers
  • Rapid decision-making
  • Tailored solutions to meet specific business needs
  • Seasonal payment schedules
  • Short and long-term lending options

Close Brothers Business Finance can offer

We have the ability to treat each business on an individual basis by applying a creative and flexible approach to build bespoke finance packages. The idea behind all our products is that they enable businesses to access and invest money in the area that needs it the most.

  • Refinance
  • Hire Purchase
  • Leasing

Refinance – including Sale and HP Back and Sale and Lease Back

Offering businesses the ability to release capital currently locked in unencumbered assets, which can then be used to purchase new assets or invest in other areas of the business.  This can also include assets that are subject to finance agreements with other lenders.

Hire Purchase

When purchasing new or second hand assets, Hire Purchase offers businesses the ability to spread payments across an agreed, flexible term giving farmers the ability to control their cash flow.

Leasing

Benefiting from using the asset to its full capacity but without the burden of ownership, Leasing is an ideal solution for an agricultural business looking to reduce any upfront investment, with the advantage of being able to offset the rentals against pre-tax profits.