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    Asset finance is a loan that is used to obtain various equipment such as vehicles or machinery. It is the third most common source of finance for businesses, after bank overdrafts & loans.

    It provides a flexible alternative to a traditional bank loan, providing significant cash flow & tax benefits for your business. Why tie up valuable cash when you can spread your payments over the usable life of the asset.

    Secured largely on the asset being financed it reduces the requirement for additional collateral & is also secure as the finance cannot be recalled during the life of the agreement.

    Regardless of the product below that best suits your needs, you will get the very best deal through Approach.

    Hire Purchase

    A finance agreement that is secured on the asset being funded. It is a simple repayment facility where you own the asset at the end of the agreement.

    An agreement requires you to pay an initial deposit, with the remainder of the balance, plus interest, paid over an agreed period of time.

The lender will purchase the asset on your behalf & own the asset until the final instalment and option fee is paid.

    Key benefits;

    • Own the asset at the end of the agreement
    • Flexible repayment periods to suit your cash flow
    • Fixed monthly payments to help with budgeting
    • Tax advantageous as VAT is usually reclaimable and repayment interest can be offset against profit
    • Simple documentation


    A finance lease is a contract under which the leasing company purchases the business asset required by the customer. The customer then commits to repay the capital cost of the equipment together with the leasing companies interest charges at a fixed rate over a fixed term.

    It allows you to use the asset during the lease period, without owning it. At the end of the lease, you will normally have 3 options, sell the goods to a third party and be offered the majority of the sale proceeds, enter a secondary rental period or continue to use or return the asset.

    Key benefits;

    • Low initial costs so you can start earning from the assets immediately
    • Tax advantageous as VAT is only payable on the rental cost not the purchase price
    • Cash and credit lines are reserved for other uses
    • Payments are fixed which means businesses can budget effectively
    • Providing the rental repayments are made, the facility cannot be withdrawn, unlike bank overdrafts
    • Rentals are an allowable expense against Corporation Tax

    Aside from an asset purchase, Approach can also look to help your business with the finance solutions below;


    A facility to release capital tied up in your assets in order to give an immediate capital injection to your business. Alternatively, assets subject to agreements with other finance companies can be refinanced leading to a reduction in monthly commitments by extending the term. Funds could be used to recover from bad debt or reduce bank overdrafts. We can also arrange a refinance agreement to fund a ‘balloon rental’ that is due on a vehicle.

    Key benefits;

    • Assists cash flow by injecting capital into the business
    • Can reduce monthly payments
    • You have continued use of the asset being refinanced

    Invoice Finance

    Invoice Finance could help put your business in a position for even better results. Your business depends on a good steady flow of cash and that is exactly what Invoice Financing can provide.
    You need working capital to enable you to run your business smoothly and efficiently. Invoice Finance gives you the flexibility to make good buying decisions, negotiate discounts, take advantage of good opportunities & to remain in control.

    Key benefits;

    • Access cash that’s sat in your business to business invoices.

    Have available the cash that will help you make the decisions that can grow your business.
    Often preferable to a bank overdraft and therefore becoming an increasingly popular solution.

    Business loan

    With businesses suffering from lack of investment a business loan sourced through Approach can provide instant short term funding when conventional banking sources have failed. It could be for cash flow purposes, purchase of stock or business premises.

    See our Assets page for details of what you can finance.

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    Telephone:0800 080 7730