Purpose
What the funding is intended to support, and the outcome being considered.
BUSINESS & SME / FINANCE SOLUTIONS
Asset finance
Finance connected to business assets and equipment.
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Finance shaped
around the brief.
Finance connected to business assets and equipment. The right questions depend on the purpose, structure and timing of each request. Monteus can confirm current services and requirements directly.
Structure
The business, property or asset context relevant to the finance discussion.
Timing
Key dates, milestones and information needed to assess the next step.
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Asset Finance
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The most common asset finance types are leases and hire purchases.
Here at Monteus we can assist with new asset financing and use asset financing with terms unto 5 years and loans unto $20 million dollars.
Finance Lease In a finance lease, the value of the asset appears on the lessee’s balance sheet, and the rental payments are accounted for in the profit and loss account. As the lease period goes on, the finance company receives an amount equal to the full value of the equipment, plus interest.
Operating Lease In contrast, an operating lease may be more suitable if the business does not plan to use the equipment for its entire operating life. While the equipment is in use, the lessor is paid for its use. The asset is not shown on the lessee’s balance sheet since the business only retains the asset for a limited period.
Hire Purchase With Hire Purchase, the customer may purchase the equipment on credit. Finance companies purchase assets on behalf of their customers, and the assets belong to them until the final payment is made. The business then has the option to purchase the item for a nominal amount.
Why Use Asset Finance? Asset financing can be used to fund any asset, from computers to trailer trucks and even sea craft. This is a great option for small businesses that need equipment but cannot afford to buy it outright.
If you would like to learn more about asset finance, contact us today and speak with one of our friendly Monteus Team members.