Asset Finance Sourcing Finance And Supporting Growth

Sourcing Finance and Supporting Growth

Norwood Finance provides leading Asset Finance Solutions tailored to your business needs

What is Asset Finance?

Having access to the right equipment and machinery in order to deliver quality products and services to customers is vital to many businesses. Yet purchasing them outright can be difficult when you have to rely on your existing cash flow. Asset finance solutions are designed specifically to spread the cost of new business purchases without tying up capital, disrupting your cash flow or opting for bank loans or overdrafts.

It applies to equipment, machinery and vehicles and can also be used to release cash that may be tied up in assets already owned, by means of refinance As a leading finance broker that specialises in asset based finance, Norwood Finance can help your business find the asset finance solution that’s perfect for your requirements.

Different types of Asset Finance

Spread the cost over time!

Hire Purchase enables you to acquire an asset while paying for it in instalments over an agreed timescale – the term. At the end of the term, you have the option to purchase the asset outright.

It lets you spread the cost of your investment over the life of the asset, making it easier to budget. Hire Purchase is particularly suitable for acquiring vehicles, machinery, construction and commercial equipment with a resell value.

Benefits of Hire Purchase

More time to repay – Spread the cost over the life of the asset
Seasonality – We can structure repayments to take account of seasonal fluctuations in your cash flow
Keep control – You are the owner of the asset for tax purposes and can normally claim capital allowances
Tax efficient – You can offset your hire purchase interest and charges against pre-tax profits
Reclaim VAT

When you need a cash injection

Refinancing (Capital Release) is a quick way to access the cash from your assets on your existing balance sheet and use that value elsewhere within your business – for example, to fund a deposit on new equipment or ease cash flow.

Sale and HP Back is a form of refinance that can be used against most types of equipment, making it suitable for companies of all sizes, including sole traders. It works by us purchasing the asset and financing it back to you. Repayments are calculated in line with the income stream that will be generated by the asset and at the end of the refinance term, you own the asset.

This option applies whether you already own the asset or are using it under a finance deal with another provider.

Benefits of Refinance / Capital Release

Efficiency – Uninterrupted use of the asset
Spread the cost further – We can take over the finance agreement you have with another provider and extend the term
Choice – Give your business a cash injection or use the money to buy other assets that may not be accessible through hire purchase or leasing agreements
Make fast decisions – Releasing capital can help you make faster decisions when negotiating business contracts

User benefits without the ties of ownership

Our Finance Lease arrangements let you use the equipment you need without having to buy it outright.

You pay us rent for the full use of it. The rental period is flexible and can be tailored to your needs and cash flow. During this period, you will pay us the full cost of the asset, including interest. Then, when you reach the end of the primary lease term you can choose to:

Continue to use the asset by entering a secondary rental period
Sell the asset and keep a portion of the income from the sale
Return it to us

Benefits of Finance Lease

Efficiency – Uninterrupted use of the asset
Spread the cost further – We can take over the finance agreement you have with another provider and extend the term

Choice – Give your business a cash injection or use the money to buy other assets that may not be accessible through hire purchase or leasing agreements

Keep your options open

Similar to a Finance Lease, an Operating Lease allows you to rent the asset from us while you need it. The key difference between the two is that an Operating Lease is only for part of the asset’s useful life. This means you pay a reduced rental because the cost is based on the difference between the asset’s original purchase price and its residual value at the end of the agreement.

You get full use of the asset for as long as you need it, without the burden of responsibility of disposing of it or recouping its residual value.

Benefits of Operating Lease

Low initial outlay – Quick access to the asset you need without a heavy upfront investment
Freedom – Full use of the asset without having to buy it outright
Flexibility – Option to re-rent, purchase or return the asset at the end of the term
Pay less – Rental cost is reduced as it is based on a percentage of the original capital cost
Off balance sheet funding
Reduce costs – Reclaim VAT on rentals

Sectors

Our expert team has a deep and specialist knowledge within which operate. You can rely on them to be a consistent and proactive point of contact, on hand throughout the life of the finance agreement and beyond, building long lasting relationships.

Commercial Vehicles

Hire fleet, operator fleet and commercial vehicle funding expertise to help drive your business forward. Vehicles from Light Commercials to HGV’s.

Motorhomes & Leisure Vehicles

Fund your brand new or used leisure vehicle, bringing all your comfort from home with some little luxuries too

Aviation

Whether it's a corporate jet, helicopter or light aircraft for business or personal use, our specialist aviation finance team have the knowledge and experience to help.

Horseboxes & Trailers

If you are looking to buy a horsebox our team of finance specialists have decades of experience providing loans or finance options for equestrian enthusiasts and professionals. Whether you are looking at a single stall horsebox for your weekend trips or to transport 6 horses in your line of business

Marine

Buying a yacht, powerboat or commercial vessel can be a big decision. That’s why our marine finance specialists are on hand to offer you the expert guidance you may need to support you through the buying process. We offer flexible finance, as well as technical and legal expertise.

Agriculture

Find flexible funding solutions for new and used agricultural machinery, farming equipment and vehicles. significant agricultural finance experience working with customers in the farming community

Plant and Construction

Build your business with our specialist construction finance solutions for yellow plant equipment, cranes and access platforms

Other Sectors

Catering

Engineering and Manufacture

Medical

Packaging

Plastics

Print

Renewable Energy

Softs Assets

Textile

Transport and Logistics

Waste Management

Woodworking

Want to speak to a member of the team?

What our customers say

'Saw and bought a car that afternoon'
Saw and bought a car in an afternoon thanks to prompt action and clear advice from Andrew making sure the finance got over the line in record time - much appreciated

S DaddarLondon

'Norwood finance were professional '
Norwood finance were professional, swift and agreed finance within 24 hours. Everything went smooth and in a ocean full of brokers we found Norwood to be like a pearl in the sea.

MontyBristol

'Andy at Norwood Finance was exceptional throughout '
Andy at Norwood Finance was exceptional throughout, listened to our needs and requirements then went above and beyond to deliver an exceptional deal.

JessyNewcastle

'Impressed in the speed of turn around '
Impressed in the speed of turn around. I consider myself low risk, high score on credit. Never the less Andrew turned the job around in super quick time.

JayOxford

'Really impressed with the experience with Norwood '
Really impressed with the experience with Norwood. Outstanding communication and they were able to sort a complex situation out for me. Would highly recommend.

MahoneyManchester

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NORWOOD FINANCE LIMITED

Hartwith Way. Harrogate,

North Yorkshire, HG32XA

01423 638 300

Norwood Finance Ltd is an Appointed Representative of AFS Compliance Ltd which is Authorised and Regulated by the Financial Conduct Authority No. 625035. Norwood Finance Ltd is an independent asset finance brokerage not a lender, as such we can introduce you to a wide range of finance providers depending on your requirements and circumstances. We are not independent financial advisors and so are unable to provide you with independent financial advice. Norwood Finance Ltd may receive payment(s) or other benefit from the finance provider if you decide to enter into an agreement with them. Asset Finance Solutions UK Ltd and AFS Compliance Ltd are subsidiaries of AFS Group Holdings Ltd, Winners of the 2019 Leasing Awards Broker of the year, of which Norwood Finance Ltd are proud to be associated with. Norwood Finance Ltd aims to provide our customers with the highest standards of service. If our service fails to meet your requirements we will endeavour to find a solution. View our complaints procedure