What we can guarantee
Lowest Rates
Finance From
£10,000
to
£5m
Sector independent
Hire purchase / Lease purchase
The concept of lease or hire purchase is similar to the model offered for individuals. The provider retains ownership of the asset to be leased over the term of the agreement, and leases it to the business for agreed regular fixed payments. Businesses may choose to make a larger initial deposit, followed by smaller payments on an agreed schedule. At the end of the agreed period, the business becomes the owner of the asset or the business can choose to buy ownership of the item outright with a final option to purchase fee.
With a hire purchase loan/lease arrangement the business is able to spread the cost of a purchase for up to 7 years. VAT is normally paid upfront but the business has the flexibility to defer this payment for up to 3 months.
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Save Capital - Secure equipment quickly whilst retaining working capital -
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Flexibility - The process is straightforward and you'll be able to maintain control -
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Tax Advantages - Interest charges may be offset against profits for taxation
Finance Lease / Capital Lease
The business only ever rents the assets concerned. Payment is made with regular payments on an agreed schedule, which normally lasts until the finance provider has recouped the purchase value of the asset. Major difference being the business does not have the option to purchase the asset outright. This is a great option for businesses that need expensive equipment but do not want to purchase them outright.
Within this type of agreement, the asset will always remain the property of the finance company, whilst the customer (you) retain, and use the asset, paying for its hire over the length of the lease term. At the end of the finance lease, the business will be given the option to extend the lease beyond the primary period, or return the asset. If an extension on the finance lease is not required, the asset will normally be returned to be sold on. Alternatively, you could sell the asset to a third party on behalf of the lessor.
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Predictability - Set regular payments -
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Tax Advantages - Typically rentals are corporation tax deductible -
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Efficiency - Minimal costs upfront
Business van finance
Company vehicles are a vital asset and the lifeblood of many businesses. From small businesses to rapidly expanding fleets there is often one common problem; how to finance the purchase of a new van. Well, thankfully, we can help. At Union Business Finance, we understand that time is money and you can't afford to wait weeks for financing. That's why we offer same day business van finance with rates from as low as 7%!
Fit out finance
Office fit-out finance
How it works
Consulting
Pre-underwriting
Paid out
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Ground Floor
Suite F, Breakspear Park
Breakspear Way, Hemel Hempstead
HP2 4TZ
