Other Products
Because of the unique nature of these products we have provided a brief overview. For more information please contact us direct.
Refinance
Refinance enables the customer to raise immediate cash for their business from equity held in existing plant, machinery and vehicles.
Even if the equipment is subject to a current finance agreement we can value the equipment, settle current finance commitments and then pay our customer the equity left over.
Finance can be arranged quickly with repayments agreed over a set period with an agreed payment structure. Security of the facility is usually held via the assets refinanced.
This facility is becoming more and more popular as not only does it have the obvious benefit to the customer's cashflow, it can also be used to assist in the following areas:
- Funding tooling projects or expansion projects which otherwise would have been considered unsecured via the finance house.
- Assist in raising cash for MBO's or MBIs.
- Pay off VAT / PAYE.
- Clear overdrafts or other loans.
- Consolidate companies debt and therefore reduce monthly outgoings.
For further information on how a refinance facility can benefit a business, contact GB Asset Finance direct.
Invoice Discounting and Factoring
This method is increasingly viewed as the fastest alternative to bank overdraft funding. Invoice discounting allows the customer to receive advances of funds against outstanding sales invoices. Up to 90% of invoice value can be paid out within 24 hours of raising them. Invoice discounting is usually a confidential service and therefore the client's customers or suppliers remain completely unaware that the funding facility is in place.
Factoring is a similar method but whereas invoice discounting is usually confidential, with factoring the finance house is involved in managing the customer's sales ledger, issuing statements and collecting debt.
Commercial Finance/ Mortgage
GB Asset Finance is also able to identify the most appropriate lender for the kind of property/business that the customer intend to buy/run or are already running.
We help the customer achieve the best terms by understanding their requirement and then identify the most effective way to achieve the required level of funding.
Areas we are involved in are as follows:
- Commercial Mortgages.
- Buy to let Mortgages for Commercial customers.
- Re-mortgages for Commercial customers.
Unsecured Commercial Loans
An unsecured Commercial loan is also available in many instances to the customer. Providing the customer has a history of profitability we can arrange a loan based on the strength of the customer balance sheet, usually between 10% - 15% of the net worth of the business, with a minimum lend value of £10,000.00.