Assets owned outright
Raise funding against an asset’s value while keeping it in use.
Asset refinance for your business
Refinance assets such as owned equipment, vans and machinery while keeping them working in your business.
Tell us what you own and any outstanding finance. We’ll explain what may be possible.
Refinance assets such as owned equipment, vans and machinery while keeping them working in your business.
How asset refinance works
Release funding from equipment, machinery or vehicles while continuing to use them.
Assets with finance outstanding
A new agreement may settle existing finance and release cash where there is sufficient value.
Valuation, settlement and fees affect how much you receive. Assets may be repossessed if repayments are not met.
Equipment refinance for vans, machinery and business assets
Asset refinancing can release value from qualifying assets owned outright, or from assets with sufficient equity after existing finance and fees are settled.
Commercial vans and vehicles
Owned vans, trucks and other commercial vehicles may qualify, subject to their age, condition, value and intended use.
Plant and production machinery
Construction plant, manufacturing lines and other durable machinery can provide security where a lender can establish a suitable resale value.
Specialist business equipment
Catering, agricultural, fitness and other specialist equipment may be considered where ownership, condition and remaining working life can be verified.
To refinance assets, lenders normally need proof of ownership, an asset description, its age and condition, an estimated value and details of any finance outstanding.
Asset value and costs
Valuation and settlementAsset value, existing finance and fees affect the cash available.
The lender checks ownership, age, condition and remaining working life. If finance is outstanding, we’ll need a settlement figure.
The offer shows the funding available, any settlement and fees, and the cash released to your business.
Using the fundsFunding can support agreed business needs.
These may include working capital, stock or growth. Tell us the purpose when you enquire.
If you are buying equipment, hire purchase or equipment leasing may be more suitable.
How to apply
Tell us about the asset
Share its age, estimated value and any outstanding finance.
Review the offer
We’ll explain the valuation, settlement, fees and proposed repayments.
Complete the agreement
Once the lender’s checks and documents are complete, the agreed funds are released.
What you’ll need
- Asset description, age and proof of ownership.
- Details of any existing finance and settlement figure.
- Business details and the purpose of the funding.
The lender may request further information.
Business loans and asset refinance
| Comparison | Asset refinance | Business loan |
|---|---|---|
| What it uses | Equipment you already own | Depends on whether the loan is secured or unsecured |
| How much you can raise | Asset value, less any finance settlement and fees | Affordability, business profile and any security |
| Typical term | 2 to 5 years | 1 to 5 years |
| Security | Title to the equipment | Agreed assets for secured loans; a personal guarantee may apply to either route |
| Speed | Depends on valuation, ownership and settlement checks | Depends on the lender, checks and any security required |
| Cost | Depends on the asset, agreement and business profile | Depends on the loan structure and business profile |
| Best when | You want to release value from existing equipment | You need funding for wider business costs |
Assets you could refinance
Owned vans, plant, manufacturing machinery and specialist equipment may qualify, subject to valuation and lender approval. If you are buying rather than releasing value, explore commercial vehicle finance, read the used commercial vehicle finance guide or explore construction equipment finance.
Asset refinance FAQs
What is asset refinance?
It raises funding against equipment, vehicles or machinery already in your business while you continue using them.
What assets can be refinanced?
Plant, machinery, vehicles and specialist equipment may qualify. Lenders assess their condition, resale value and remaining working life.
Can I use equipment refinance for owned vans and machinery?
Potentially. Equipment refinance may be available for qualifying commercial vans, plant, production machinery and specialist business equipment. Lenders check ownership, age, condition, value and remaining working life.
Do I need to own the asset outright?
Not always. A new facility may settle existing finance and release additional cash if the asset has sufficient value after settlement and fees.
Can I keep using the equipment?
Yes. You normally continue using it and remain responsible for insurance, servicing and care under the agreement.
What can the money be used for?
Funds can support agreed business needs, including working capital, stock and growth. Tell us the intended use when you enquire.
How much can I release?
The amount depends on the valuation, your business profile, existing finance and fees. We’ll explain the cash available after any settlement.
Is asset refinance cheaper than hire purchase?
They serve different purposes. Refinance releases value from existing assets; hire purchase funds a purchase. Costs depend on the asset, business and agreement.
Will applying affect my credit score?
An initial conversation will not. If a formal lender search is needed, we explain the route first and only proceed with your agreement.
Discuss asset refinance
Tell us about the assets you own and any outstanding finance. We’ll explain the available refinance routes and what information is needed.