Asset Finance for Woodworking Equipment
Get in touchAs a leading asset finance company, we have a great understanding of how difficult it can be to maintain cash flow and a competitive edge in the woodworking industry which is why we provide specialised financial services.
Our machinery finance specialists can help you improve your income stream and can access new equipment to improve your business.
To learn more about what we offer and how we can help your woodworking company with financing woodworking equipment, please contact our finance specialists today.
What is Asset Finance for Woodworking Machinery?
Asset finance is a great alternative finance agreement for both large and small businesses, that can help them get almost any type of the latest technology or new manufacturing equipment required for their jobs.
This is a very flexible form of finance that can help those in the woodworking machinery industry finance products the latest technology/ products they need, even without the cash flow to pay for them.
Our team will finance all kinds of manufacturing equipment, including saws, CNC routers, Mortisers Milling machines, and jointers. We can also offer refinancing solutions as well as any refurbishments that may be required.
Asset finance is a way of making equipment and heavy machinery/ machinery more affordable by allowing businesses to have access to the assets they need without paying outright; such as hire purchase for assets.
Our team of finance experts will help fund a range of assets and can invest in your business with a range of financial options at competitive rates . Contact us today to learn more.
Types of Asset Financing for Woodworking Equipment
There are various ways that asset finance can support your woodworking company.
As a finance company, we can help you get access to the latest technology required for your role without causing financial difficulties.
The following are services we offer to woodworking clients:
Hire Purchase
Hire Purchase is a way of spreading the cost of the asset's original purchase price, so it is more manageable for your business.
For Hire Purchase, you essentially lease any equipment for a select period of time, and the payments will be spread over this.
With hire purchase, costs can be spread over the lease period to aid cash flow while also allowing businesses to use what they need at the moment.
The equipment will belong to your business at the end of the lease term period of the hire purchase.
Equipment Leasing
The key difference between Equipment Leasing and Hire Purchase is the fact that the equipment, such as the CNC routers, belongs to the finance company, and your business is simply leasing it.
Businesses can lease new and used equipment, where costs are spread over several months based on how long you need the tools. You pay to use the technology but do not own it.
At the end of the term, businesses can decide whether to start a secondary rental period or return the equipment.
Asset Refinance
Asset Refinancing, also known as capital release, is a way of releasing the investment you have already made into technology, for example, CNC routers. These funds can then be used elsewhere in the business.
Based on the refinance term, you can release the residual value of a previous investment to a finance company, like our team.
We will then provide you with a cash sum based on the cost of this asset which can then be used to fund other aspects of the business.
You will then pay back the cost of this asset through monthly repayments.
Operating Lease
An Operating Lease is similar to a finance lease as it allows you to rent the asset, like CNC routers, for a select period. However, this rental period will only last for the useful life of the asset, so you will pay a reduced rental which can help save money.
What is the Interest Rate on a Woodworking Equipment Loan?
The interest rate on a woodworking equipment loan ranges from 2%-20%.
However, these interest rates may vary based on the deal made between businesses and the finance team based on credit history.
Asset finance usually has a lower interest rate than other ways of loaning money because it is based on a hard investment or asset.
Call us today to find out where our interest rates start and how we can help you!
Types of Assets we Finance in the Woodworking Industry
Our team can finance a range of assets, such as the following:
CNC routers
Drill press
Milling machines Mortisers
Jointers
Planers
Edgebanders
Moulders
Saw machines
Sanding machines
Benefits of Asset Finance in the Woodworking Industry
There are some great benefits to asset finance for those in the woodworking business, including:
Little to no upfront cost is required for equipment.
Allows to spread the investment over time.
Gain support cash flow and growth of the business.
No other collateral is required for the loan.
Released capital, which you can invest elsewhere.
Can protect against damage or equipment breakdown.
Our team has been working closely with those in the woodworking industry for many years, ensuring we understand your needs and can provide a tailor-made solution for your business.
Summary
As a woodworking business, there are a lot of tools and equipment you should invest in.
This can be expensive and may not be something you can afford, which is where asset finance comes in.
As a leading financial service, we have been working with woodworking brands for many years to provide asset financial solutions that can spread the costs of any equipment.
We have a great reputation with customers and continue to be a leading service in this industry. If you are wanting to invest in new products but are concerned about cash flow, then you have come to the right place.
Contact us today to learn more about asset finance and how we can help you.