Asset Finance
Spread the cost of equipment, machinery and vehicles, or explore releasing capital from eligible assets your business already owns.
Fund essential assets. Spread the cost.
New machine, new van, new line — spread the cost rather than paying up front.
Already own the kit? Raise cash back out of it. Either way you keep working capital where it's doing something.
Asset Finance Options
Hire Purchase
Spread the cost of purchasing an asset through regular payments. Ownership typically transfers once all payments and any final purchase requirements are satisfied.
Asset Refinance
Release capital tied up in eligible business assets while continuing to use them. Existing finance, asset value and ownership arrangements affect the options available. Some structures involve transferring ownership to the finance provider.
Use of funds
What are you using it for?
These are the reasons businesses give us when they enquire. Here is where asset finance usually fits, and where something else usually does.
Commonly used for
Equipment / Asset Purchase
This is what the product is for. The asset is identifiable, and it usually forms the security for its own finance.
Expansion / Growth
Where growth needs kit — more vehicles, more machines, more capacity — rather than more cash.
Working Capital
Through asset refinance: releasing capital tied up in eligible assets you already own, while continuing to use them.
Usually a different route
Cash Flow Support
If the issue is timing on money you are already owed, Invoice finance targets that directly.
Stock / Inventory Purchase
Stock is bought to be sold, so it does not secure finance the way a machine does. Usually a business loan or a merchant cash advance.
Payroll / Wages
There is no asset to attach the funding to. Usually a business loan.
Debt Refinance
Unless what you are refinancing is an asset agreement, or you are releasing capital from an asset you own, this is usually a business loan.
Tax / VAT Bill
No asset is involved, so this is usually a business loan.
Other / Not sure
Tell us the situation rather than the product. Working out which route fits is the part we do before anything goes to a lender.
The Approven approach
The right finance starts with understanding your business.
Whether you're investing in new machinery, expanding your fleet or looking to release capital from existing assets, we take the time to understand your requirements.
We explore available arrangements with your operational needs, payment commitments and longer-term objectives in mind.
Product information
Costs and ownership
Deposits, payments, fees and ownership arrangements vary by agreement. Check the final payment, purchase option, return conditions and early termination charges before proceeding.
Guarantees
Security or a personal guarantee may be required. A guarantee can make you personally liable if the business does not meet its obligations.
Risk to assets
Failure to keep up payments could result in repossession of the financed asset. Repossession may not clear the full amount owed.
Our role
Approven is a finance broker, not a lender. We arrange funding solely for business purposes, subject to eligibility, provider assessment and approval.
How we're paid
We do not charge customers a broker fee. We receive commission for successful funding introductions, and commission arrangements vary between providers and products. Where a lender’s commission forms part of the cost of the facility it offers, what we are paid can form part of what you pay overall. Where we introduce you to another broker, any referral arrangement and applicable customer fees will be explained before you proceed. The full position is under How we’re paid on our About page.
ASSET FINANCE. THE APPROVEN WAY.
Looking to invest in equipment, upgrade your fleet or release capital from existing assets? Explore asset finance options with Approven.
Get Funding
OTHER FINANCE SOLUTIONS
MORE WAYS TO ACCESS FINANCE
Every business has different funding requirements. Explore alternative finance solutions to support your cash flow, investment and growth.
MCA
Funding assessed against business turnover, including card sales, with payment terms agreed upfront.
Loans
Secured and unsecured business loans to support cash flow, investment and growth.
Invoice
Access a proportion of the value of eligible unpaid business invoices before your customers pay.
Bridging
Short-term finance secured against commercial property, for business purchases or refinancing.