Close Brothers Asset Finance is the largest, most successful and longest-established specialist asset finance funder in the UK with over 30 years’ experience working with SMEs through all economic cycles.
Our team of finance specialists have relevant woodworking and joinery industry experience themselves and work with businesses across the UK to provide funding for both new and used equipment.
What is asset finance?
Asset finance is an alternative form of funding used by businesses to obtain the equipment they need to grow.
Common examples of asset finance products are:
Hire Purchase (HP): The customer buys the equipment on credit. The finance company purchases the asset on behalf of the customer and owns the asset until the final instalment is paid, at which point the customer is given the option to buy it.
Refinancing (Capital Release): The finance company purchases the asset and finances it back to you. Repayments
are calculated in line with the income stream that will be generated by the asset; at the end of the refinance term,
you own the asset.
Finance Lease: The full value of the equipment is repaid to the finance company, plus interest, over the lease period. At the
end of the term, the company can enter a secondary rental period, sell the asset and keep a portion of the income
from the sale or return it.
Types of assets financed?
The beauty of asset finance is its flexibility – it can be used to fund any asset, including: Tooling, CNC routers, Sanders, Moulders
Saws, Edgebanders, Planers, Jointers, Mortisers, Milling machines and Drill press.
There is very little that we won’t consider financing.