Portman FAQs

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Navigating business finances can be complex. Our FAQs address common funding questions. For further inquiries, contact our financial specialists.
  • Over £1bn financed since 2007

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General Enquiries

Can I get a loan if I am on benefits or claiming disability?

Portman only provides business finance and is not able to offer any form of personal credit including benefit loans, disability loans, payday loans or student loans

Do you offer seasonal payment terms? 

Yes, many of our customers naturally experience high demand for their services during certain times of the year as well quieter periods during others. We tailor all finance agreements to the needs of each business, and lower payments can be arranged during periods when there is a predictable reduction in trade.

Do you provide finance outside the UK? 

Unfortunately, Portman can only finance companies registered and operating in the UK.

How long will I be paying back the finance? 

Terms are available between 2 and 6 years. Options available to you may be dependent on the circumstances of your business, but then the final choice is up to you.

I thought finance was just for people who can’t afford to buy? 

On the contrary, asset finance is designed to spread costs over a period of time, whilst your new equipment generates revenue. Using your business’ cash or credit card and buying outright can mean that there’s no free cash for emergencies or to cover fluctuations in demand. Using finance helps even out the monthly budget and choosing a lease finance or hire purchase deal allows you to treat tax in different ways which may suit your business better. Finance allows you to get what you need now, rather than waiting to buy outright, this helps avoid inflation, as you buy at today’s prices and means you have use of the asset immediately to help grow your business.

Isn’t it cheaper just to go to a lender direct? 

Whilst banks can offer different rates, they often reject certain type of purchase, businesses in different industries and have very strict lending criteria. At Portman we deal with a panel of over 40 lenders as well funding businesses with our own money. We have access to specialist lenders and specialist types of finance, giving a variety of options and a greater chance of success. Portman may have rates that are not available to a customer who goes direct and can also explore the whole lending market in one go, saving you time. We have access to specialist lenders that are not available to individuals and can even put together finance packages from multiple lenders. All of which gives you competitive rates, with a greater chance of acceptance.

What are the minimum and maximum amounts I can borrow? 

The amount that you are able to borrow very much depends on a combination of your own personal circumstances and the trading history of your business. Like a mortgage, finance amounts can also be affected by the size of your business. Broadly speaking we offer finance agreements from around £10,000 up to approximately £2,000,000

What are your rates?

The interest rates available to each customer vary based on a large number of factors including the trading history and credit rating of the business, the credit history of any company directors, how much money is required and what the funds are being used for. The rates for customers with an exceptional credit rating start from an annual flat rate of 5.3%.

What is the application process like?

Portman can guide you through the application process. After discussing your needs and collecting business documents we can save you time, completing proposals and applications on your behalf. In the first instance, the documents we would need are: copies of a recognised photo ID, 6 months of bank statements, a copy of your business plan and possibly a copy of your CV. For established businesses we would also ask for a copy of your management accounts, profit and loss and balance sheet.

What steps can I take to recover overdue payments without resorting to legal action?

Taking measured steps can help recover overdue payments without legal action: Open Dialogue: Reach out to the client to discuss the situation and find a resolution. Negotiation: Offer flexibility, such as payment plans, to facilitate catching up on payments. Mediation: Consider involving a neutral third party to mediate if discussions stall. Maintaining a positive client relationship while addressing late payments is crucial for long-term business success.

What is working capital, and why is it crucial for business owners?

Working capital is the difference between a company’s current assets and current liabilities, representing available funds for daily operations. It is crucial for business owners as it ensures liquidity, enables meeting short-term obligations, and supports growth opportunities.

What is the significance of ROCE for my business, and how can I use it to make informed decisions?

ROCE is a critical metric for business, as it measures the efficiency and profitability of your capital utilisation. A higher ROCE indicates that your company is generating better returns on the capital invested in its operations, which is a positive sign for investors and potential lenders. By regularly calculating and monitoring your ROCE, you can assess your business’s financial performance over time and identify areas that need improvement. Moreover, ROCE can aid in making informed decisions about investment opportunities and capital allocation, helping you prioritise projects that offer higher returns and long-term profitability.

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Asset Finance FAQs

Does the business actually own the equipment with asset finance?

With asset finance, the business’s ownership of the equipment depends on the chosen arrangement. In a hire purchase, ownership is transferred to the business after completing all payments. However, in a leasing agreement, ownership remains with the finance provider during the lease term, and the business may have the option to purchase the equipment at the end of the lease or return it.

What are the advantages of asset finance?

By adding new equipment you could expand capacity or your range of services, allowing you to win new contracts or serve more customers. Upgrading equipment can make you more efficient, boosting productivity or saving energy costs. Accessing your industry’s latest equipment and technology can mean you provide a better service as well as get ahead of your competition. Spreading the cost of any business investment provides an affordable way to get what you need now, unlocking your company’s potential without using up your own cash reserves or credit cards and overdrafts which reduce your ability to respond to fluctuations, emergencies, or access to credit in the future.

What can be financed? 

We can fund any sort of asset, be it a traditional ‘hard’ asset such as machinery, tractors, forklifts and vans, to more ‘soft’ assets such as IT software, office supplies, gym equipment and furniture. We’re able to finance assets in almost any industry, not just the ones listed on this site, so whatever asset you need to move your business forward just contact us and we’ll be happy to help.

What is an example of asset finance?

You can use business asset finance in various ways to suit your company and requirements. For example, you may wish to use asset finance to secure new equipment either to meet customer demand or replace a broken or faulty unit. In this instance, you can get high-quality equipment essential to the continued growth of your business without taking a huge hit on finance with a large upfront payment. Instead, repayment on the asset finance agreement is affordable and manageable while your new piece of equipment continues to bring in revenue for the business.

What is asset finance?

Asset finance is a flexible way for business owners to fund their companies, offering a quick and convenient alternative to more traditional lending methods such as bank loans. It involves making regular payments for the use of an asset, such as a key piece of equipment, over an agreed period of time, saving you from the cost of buying it outright. This preserves your cashflow and frees you up to invest in other areas of the business. At the same time, you are generating income from your new asset while paying for it. For small-to-medium-sized businesses and start-ups especially, asset finance is one of the most accessible and flexible forms of finance, as well as an effective strategy to generate growth.

What is the difference between loan & asset finance?

Asset finance is a funding option aimed purely at securing equipment or machinery without the large upfront cost eating into a business’ revenue. It allows you to acquire replacement equipment or new and improved machines quickly to continue the smooth operations of your business without having to remove money from other parts of the business or affecting your customers. This differs from a business loan which can be used to inject cash into any part of the business, not just to secure assets. Business loans can be used to cover cash flow during seasonal periods, employ more staff or invest in the business property. For more information on which finance option may be best for you, get in touch with the team today.

Why use asset finance? 

You can acquire assets without tying up working capital, allowing you to spread the cost over low monthly payments over periods of up to 6 years. The asset you buy will be your security, meaning that we are able to move through the application process quickly without waiting for several forms to be processed. Once everything is in place, you can let the new equipment pay for itself as you use it, rather than paying upfront in one lump sum. If you are upgrading, any old equipment can be replaced now rather than having to save and wait for an outright purchase. Payments are 100% tax deductible on lease finance agreements, while the fixed interest rate during the length of the agreement makes it easy for you to budget.

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Business Loans FAQs

Are business loans hard to get?

The ability to get a loan and the best available rate depends on your business’ individual trading history as well as the financial history of any directors. It may be easier for long-established businesses with a healthy balance sheet to obtain finance than for newer businesses or those who have had financial difficulties. However, as both a lender and a broker, Portman can match the requirements of our customers with the lender most likely to offer finance, giving you a greater chance of success.

Do you offer small business loans?

Portman typically sources funding from £10,000 but is able to offer lower value funding in some circumstances. We do work with businesses of all sizes and can secure funding for both small businesses or new starts, as well as established larger firms.

How are business loans secured?

Business loans are ‘secured’ against existing commercial assets. This could include machinery, vehicles or property. What this means is that should the borrower be unable to repay the amount owed, the lender can sell those items in order to recoup the money it is owed. An unsecured loan does not put your business assets at risk, however, they carry greater risk for the lender and so are likely to be more expensive.

How do I get a business loan?

You can enquire online by using our eligibility checker. Click ‘get started’ at the top of the page and complete your details on the enquiry form. Once you have submitted your details, one of our account managers will contact you to discuss your needs. We do need some business documentation from you but will complete proposals and applications on your behalf.

How to apply for a business loan?

You can enquire online by using our eligibility checker enquiry form. Click ‘get started’ at the top of the page and complete your details on the enquiry form. Once you have submitted your details, one of our account managers will contact you to discuss your needs. We do need some business documentation from you but will complete proposals and applications on your behalf. 

What can business loans be used for?

Business loans can be used for any legitimate business purpose. Our customers use loans to fund premises, to buy stock, to market their business, to cover wages or operational costs or to buy any items they need for their business. This type of loan cannot be used for personal expenses as personal credit is not tax deductible

Are there any alternatives to revolving finance for short-term funding needs?

Yes, there are alternatives to revolving finance for short-term funding needs. Some options include short-term business loans, invoice financing, merchant cash advances, and business lines of credit. Each alternative comes with its own terms, interest rates, and eligibility requirements, so it’s essential to explore and compare the options to find the best fit for your specific short-term funding requirements. For more advice on alternative short-term funding options, don’t hesitate to get in touch with our expert team at Portman for further information.

Can I repay a business loan early?

Yes, you can usually repay business loans early. If your lender does not charge early repayment fees, this could save you money. To repay a loan early, just contact the lender for a settlement fee.

Can I apply for a cash flow loan if my business has a low credit score?

Yes, you can apply for a cash flow loan with a low credit score. Unlike a traditional loan, cash flow loans rely on your ability to prove your business has a healthy cash flow, which is used to assess the loan terms.

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Cash Flow Loans FAQs

Are there any restrictions on how I can use the funds from a cash flow loan?

A cash flow loan can be used for any investments in your business that improve its profitability and security in the future. You can use it to invest in equipment, stock, training or marketing to boost your business. Alternatively, it may be used to bridge the gaps between cash flow pitfalls.

Can I apply for a cash flow loan if my business has a low credit score?

Yes, you can apply for a cash flow loan with a low credit score. Unlike a traditional loan, cash flow loans rely on your ability to prove your business has a healthy cash flow, which is used to assess the loan terms.

How does a cash flow loan differ from a traditional term loan?

A cash flow loan differs primarily from a traditional term loan in its repayment structure. While a traditional term loan typically follows a fixed repayment schedule, a cash flow loan is repaid based on the borrower’s projected cash flow. This means the repayment amount fluctuates based on the business’s cash flow, providing more flexibility. Cash flow loans often prioritise the borrower’s ability to generate consistent cash inflows rather than relying heavily on collateral or tangible assets as security.

How quickly can I expect to receive the funds after applying for a cash flow loan?

Depending on your chosen lender for your cash flow loan, you may expect to receive the funds from your cash flow loan as soon as 24 hours later. However, this is subject to your cash flow loan provider and is something you should consider before agreeing to any loan terms.

What is the typical repayment period for cash flow loans?

On average, cash flow loans are repaid within one and six months. They are quick ways to obtain funding and require quick repayment term periods.

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Revolving Finance FAQs

Are there any alternatives to revolving finance for short-term funding needs?

Yes, there are alternatives to revolving finance for short-term funding needs. Some options include short-term business loans, invoice financing, merchant cash advances, and business lines of credit. Each alternative comes with its own terms, interest rates, and eligibility requirements, so it’s essential to explore and compare the options to find the best fit for your specific short-term funding requirements. For more advice on alternative short-term funding options, don’t hesitate to get in touch with our expert team at Portman for further information.

Can I pay off a revolving loan early without penalties?

In many cases, yes, you can pay off a revolving loan early without penalties. Revolving loans, like credit cards or lines of credit, often do not have prepayment penalties, allowing borrowers to repay the outstanding balance at any time without incurring additional fees. However, it’s essential to review the terms and conditions of your specific loan agreement to ensure there are no penalties for early repayment.

Can I use revolving finance for personal expenses?

Yes, revolving finance, like credit cards or lines of credit, can be used for personal expenses, providing the flexibility to make purchases or cover unforeseen costs even if you don’t have immediate cash available. However, it’s crucial to use this credit option responsibly to avoid accumulating high-interest debt. Keeping track of your spending, making timely payments, and staying within your means is essential to ensure that revolving finance benefits you without leading to financial difficulties. By using revolving finance wisely, you can manage personal expenses effectively and even earn rewards or build a positive credit history when paying off balances responsibly.

Is revolving finance suitable for startups or small businesses?

Yes, revolving finance can be suitable for startups and small businesses. It offers flexibility and quick access to funds, making it useful for managing cash flow fluctuations, covering short-term expenses, and seizing immediate opportunities.

What factors determine the credit limit on a revolving credit account?

The credit limit on a revolving credit account is determined by several factors, including the borrower’s creditworthiness, credit history, income, debt-to-income ratio, and the lender’s risk assessment. A higher credit score, stable income, and responsible credit behaviour typically result in a higher credit limit, while a limited credit history or high debt levels may lead to a lower limit. Lenders evaluate these factors to assess the borrower’s ability to manage credit and repay debts, influencing the credit limit they offer on the revolving credit account.

What is the main difference between revolving credit and short-term loans?

Revolving credit offers a credit line with ongoing access to funds, similar to a credit card, whereas term loans provide a lump sum upfront, repaid in fixed installments over a specified period.

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Government-backed Finance FAQs

Can I pay my Recovery Loan off early?

You can pay your Recovery Loan off at any time. Your lender can provide you with a settlement fee, which you can then pay directly to them. That’s it. Portman acts as an approved broker for Recovery Loans and not a lender, check your paperwork to find out who your lender is.

Can you have a CBILS and RLS

Yes. Having CBILS, CLBILS, and BBLs does not exclude you from the Recovery Loan Scheme. You can still access RLS, provided you meet the eligibility criteria.

How do I apply for a Recovery Loan?

The eligibility requirements for a Recovery Loan are: a minimum 2 years trading history, a minimum £100k turnover, UK-based in its business activity and adversely impacted by Covid-19. Complete our eligibility form with a few basic details and one of our Account Managers will call you back to discuss your needs. We will ask to you some business documentation, then Portman will complete and submit applications on your behalf.

How does a Recovery Loan compare to other options?

The government backs 70% of a Recovery Loan which means they carry some of the risk should a business default on the loan. As a result, more businesses can access finance and rates can be more competitive. However the actual rate a business is offered can still vary based on individual credit history and trading circumstances. Traditional business loans offer an alternative and in some circumstances may be more suitable. Asset Finance: Hire Purchase or Lease Finance, typically carries a lower risk for the lender because the asset itself acts as security and can be reclaimed by a lender if the borrower defaults on the loan. Typically this means that rates can be lower, particularly for high value assets. Your Portman Account Manager can discuss options with you, depending on your intended purchase, but ultimately the choice as to what’s right for your business is yours.

How long does an RLS facility last?

An RLS facility lasts up to six years for loans and asset finance. Overdraft and invoice finance facilities last up to 3 years.

I thought the Recovery Loan Scheme finished?

The UK Government launched Phase 2 of the scheme on 1st September 2022 and will be closed to further applications from midnight on 30th June 2024. However, RLS is being renamed the Growth Guarantee Scheme with the same terms and being extended until 31st March 2026, following an announcement in the Government’s Spring Budget, with a pledge of £200m in funding.

Is the Recovery Loan Scheme ending soon?

The current iteration of the Recovery Loan Scheme was launched on 1st September 2022 and will be closed to further applications from midnight on 30th June 2024. However, RLS is being renamed the Growth Guarantee Scheme with the same terms and being extended until 31st March 2026, following an announcement in the Government’s Spring Budget, with a pledge of £200m in funding.

What can a Recovery Loan be used for?

Businesses can borrow between £10,000 and £2,000,000. Any investment plans that require funding can be accelerated using a finance product that protects an individual’s Principal Private Residence. Repayment periods are up to 6 years. The loan can be used for any legitimate business purpose including: equipment, vehicles, cashflow, stock, refurbishments, technology and marketing. 

What is the difference between CBILS & a Recovery Loan?

The Coronavirus Business Interruption Loan Scheme (CBILS) was a loan scheme for amounts of £50,000 to £5 Million. To be eligible for the scheme required an annual turnover of £200,000. The scheme ended on 31 March 2021. The Recovery Loan Scheme, like the CBILS, offers 2-6 year terms. RLS is for amounts of £25,000 to £10 million. It also has a lower annual turnover requirement – £100,000. RLS is available until 2024.

Why are businesses taking Recovery Loans?

A Recovery Loan carries a government guarantee to the lender of 70% of the outstanding funds. This adds security to the loan because in many cases the government will repay 70% of the loan to the lender should the business default. This security means that lenders are willing to give money to businesses who may previously not have been given finance at the competitive rates offered by the Recovery Loan Scheme. Repayment periods can be up to 6 years, meaning the investment can generate income over the term. The loan can be used for any legitimate business purpose including: equipment, vehicles, cashflow, stock, refurbishments, technology and marketing.

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Hire Purchase FAQs

What happens at the end of a hire purchase agreement? 

At the end of a hire purchase agreement, the borrower has a guaranteed right to purchase the title, i.e. own, the asset for which there may be a nominal administration fee.

What’s the difference between hire purchase and lease finance? 

With a hire purchase agreement, the borrower pays the VAT and a deposit upfront, though these can be financed. With lease finance there is no deposit, and the VAT is spread across each payment. With hire purchase the payments cannot be deducted from corporation tax but it may be possible to claim depreciation and Annual Investment Allowances. With lease finance, the entire monthly payment can usually be deducted company profits before corporation tax is calculated. With hire purchase, the borrower has a guaranteed right to buy the title of the asset they have financed, which will normally be for a nominal administration fee. At the end of a lease finance agreement, the borrower can give back, continue leasing or buy the asset.

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Government-backed Finance FAQs

How do I apply for a Recovery Loan?

The eligibility requirements for a Recovery Loan are: a minimum 2 years trading history, a minimum £100k turnover, UK-based in its business activity and adversely impacted by Covid-19. Complete our eligibility form with a few basic details and one of our Account Managers will call you back to discuss your needs. We will ask to you some business documentation, then Portman will complete and submit applications on your behalf.

Is the Recovery Loan Scheme ending soon?

The current iteration of the Recovery Loan Scheme was launched on 1st September 2022 and will be closed to further applications from midnight on 30th June 2024. However, RLS is being renamed the Growth Guarantee Scheme with the same terms and being extended until 31st March 2026, following an announcement in the Government’s Spring Budget, with a pledge of £200m in funding.

Why are businesses taking Recovery Loans?

A Recovery Loan carries a government guarantee to the lender of 70% of the outstanding funds. This adds security to the loan because in many cases the government will repay 70% of the loan to the lender should the business default. This security means that lenders are willing to give money to businesses who may previously not have been given finance at the competitive rates offered by the Recovery Loan Scheme. Repayment periods can be up to 6 years, meaning the investment can generate income over the term. The loan can be used for any legitimate business purpose including: equipment, vehicles, cashflow, stock, refurbishments, technology and marketing.

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Start Up Loans FAQs

Can I get a start up loan with bad credit?

A poor credit history can affect your ability to get finance but at Portman we work with a number of specialist lenders who may be able to help. For new businesses, your ability to obtain finance is based on a number of factors including your turnover or projection, your business plan, your personal wealth and homeownership status, other businesses you may be involved with and your own credit history. A bad credit history will affect the rates you are able to obtain but might not prevent you from obtaining credit entirely. As much as we aim to help every start-up business that comes to us, poor credit history is likely to limit your ability to get finance for your company. For new businesses, your ability to obtain finance is based on several factors, including: Your turnover or projection, Your business plan, Your personal wealth and homeownership status, Other businesses you may be involved with. Poor credit history will affect the rates you can obtain and may prevent you from obtaining credit entirely. If you have poor credit, we suggest you look at ways to increase your credit score before applying for a start-up loan.

Do you need a deposit for a startup business loan?

Typically, startup business loans may require a deposit or collateral as a form of security, depending on the lender and the specific terms of the loan. However, it’s essential to research and compare different lenders to find options that may not require a deposit or offer flexible alternatives.

How can I get finance to start a business?

To get finance for starting a business, you have several options to consider. Firstly, you can apply for start-up business loans offered by banks and lenders specifically tailored for new ventures. Another option is crowdfunding, where you collect small contributions from a large number of people through online platforms. Additionally, you can seek funding from angel investors or venture capitalists who provide financial support in exchange for an equity stake in your business. Using personal savings or receiving help from family and friends is another possibility.  Alternatively, explore government programs that may be available for start-ups in your area. Whichever option you choose, make sure to have a solid business plan and financial projections to demonstrate the potential success of your business.

How long does it take to get a start-up loan?

Finance could take as little as 24 hours up to a few of weeks, depending on eligibility for finance and the amount of borrowing required.

How much can I borrow for my new business?

How much a new-start business is able to borrow depends on a range of factors including: your business plan and projections, any other businesses you may be involved in, the value of your property and the assets you are looking to purchase. The best option is to enquire with Portman and one of our Account Managers can discuss your individual needs.

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Lease Finance FAQs

How different are lease finance and hire purchase agreements?

With a hire purchase agreement, the borrower pays the VAT and a deposit upfront, though these can be financed. With lease finance there is no deposit, and the VAT is spread across each payment. With hire purchase the payments cannot be deducted from corporation tax but it may be possible to claim depreciation and Annual Investment Allowances. With lease finance, the entire monthly payment can usually be deducted company profits before corporation tax is calculated. With hire purchase, the borrower has a guaranteed right to buy the title of the asset they have financed, which will normally be for a nominal administration fee. At the end of a lease finance agreement, the borrower can give back, continue leasing or buy the asset.

What are the benefits of equipment leasing?

Lease financing helps startup companies afford large, often expensive equipment by paying off the cost in smaller payments over a long period. This makes it much more accessible and convenient to get all the assets you need to get your business off the ground. It is also helpful if you only require access to the equipment temporarily.

Will I own the equipment at the end of the lease period?

This depends on the agreement you have with the equipment provider. If you wish to keep the equipment for your business after the lease period ends, then you can agree to do so and pay off the cost. Lease financing is most commonly used for equipment or machinery that is only required for short periods.

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Equipment Finance FAQs

Does the business actually own the equipment with asset finance?

With asset finance, the business’s ownership of the equipment depends on the chosen arrangement. In a hire purchase, ownership is transferred to the business after completing all payments. However, in a leasing agreement, ownership remains with the finance provider during the lease term, and the business may have the option to purchase the equipment at the end of the lease or return it.

Is equipment finance considered debt?

Yes, equipment finance is considered a form of debt. When a business obtains equipment finance, they borrow money from a lender to acquire the necessary equipment. The business then repays the lender over time, typically with interest, until the full amount is paid off. As such, equipment finance is a liability on the business’s balance sheet until the debt is fully settled.  However, it’s worth noting that equipment financing can be a valuable tool for businesses to acquire essential assets without bearing the full upfront cost, and when used correctly, it can aid rather than hinder the business’ financial standing and future.

What can be financed? 

We can fund any sort of asset, be it a traditional ‘hard’ asset such as machinery, tractors, forklifts and vans, to more ‘soft’ assets such as IT software, office supplies, gym equipment and furniture. We’re able to finance assets in almost any industry, not just the ones listed on this site, so whatever asset you need to move your business forward just contact us and we’ll be happy to help.

What is the average interest rate on equipment financing?

The average interest rate on equipment financing can vary depending on factors such as the business’s creditworthiness, the type of equipment being financed, and the current market conditions. You can use our machinery finance calculator for an idea of your monthly payments, or why not contact a team member at Portman for further advice and guidance?

What sort of equipment can I finance?

Businesses can finance a wide range of equipment using equipment financing. Common types of equipment that can be financed include machinery, vehicles, technology and IT equipment, construction equipment, medical equipment, manufacturing tools, office furniture, and more. The specific equipment eligible for financing may vary depending on the lender and the industry, but in general, businesses have a broad selection of equipment options available for financing to meet their operational needs and growth requirements.

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Introducer Finance & Supplier Finance FAQs

Can I offer finance to my customers?

Yes. If your customers might like to finance a purchase from you, whether that be for an expensive individual item or package of equipment, Portman can help. We can advise your customers how much finance might cost, which makes it easier for them to buy from you. As well as increased sales conversion, we may offer a referral fee for any finance taken out buy customers that reach Portman through a partner.

Do you offer referral fees?

We may offer referral fees to a supplier who uses Portman as their finance partner. The exact fee will be based on many things including the potential volume of enquiries and value of finance being provided.

Is supplier finance considered a loan?

Supplier finance is an efficient way for business owners to obtain short-term credit without having to take out a loan. Supply chain finance is not considered to be a loan as it is often quicker to arrange and requires fewer criteria for acceptance. 

What are the benefits of having a finance partner such as Portman?

If your business sells high value items, your customers may not always have enough free cash to buy outright or may prefer not tie up the cash they do have in an asset. Using finance allows businesses to get what they need now then pay back the finance as their asset generates revenue. Having Portman as your finance partner simply allows more customers to buy from you. In return, you may generate additional income by receiving a share of the finance amount. We can also provide marketing material to help you promote the partnership, as well as contact our customer database on your behalf to promote your business.

What are the benefits of having Portman as a finance partner?

If your business sells high value items, your customers may not always have enough free cash to buy outright or may prefer not tie up the cash they do have in an asset. Using finance allows businesses to get what they need now then pay back the finance as their asset generates revenue. Having Portman as your finance partner simply allows more customers to buy from you. In return, you may generate additional income by receiving a share of the finance amount. We can also provide marketing material to help you promote the partnership, as well as contact our customer database on your behalf to promote your business. We are also rated Excellent on Trustpilot, meaning your customers will experience excellent customer service.

What is the Portman App?

The Portman App is a user-friendly tool that helps our Partnering Businesses streamline the financing process for their customers. It allows you to estimate monthly payments, submit enquiries to Portman on your customer’s behalf, and track past enquiries and calculations.

How do I sign up for the Portman App?

You cannot directly sign up for the Portman App. The Portman is for our Partners and will need to be invited by a Portman Sales Manager who will provide you with a login email address.

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Beauty Equipment Refinance FAQs

Do beauty salons make money in the UK?

If you’re wondering if a beauty salon is a worthy business to start this year, we are pleased to report that it is very lucrative, albeit requiring a lot of commitment and dedication. In 2019, the 45,000 beauty businesses in the UK turned over £8 billion. This sector has also been predicted to grow by 16% by the end of 2023.  So, it is clear that the beauty sector is a profitable business with the market for services increasing, so you should ensure you have the equipment and stock to meet demand. Ensure you have the cash flow and necessary equipment needed to meet your customer’s expectations and grow your business with the help of Portman.

How can I set up a home beauty salon?

Starting a home beauty salon is a great way to get your business and brand started if done properly. This means ensuring you have the right permissions before opening your home to clients. A clause in your home agreement may prohibit you from conducting any business from home.  You must also ensure that you create a space that your clients feel comfortable in to ensure they return. To achieve this, set up a dedicated salon space that is professional rather than setting up a chair in your living room. This could make clients of your business feel like they are intruding. Never forget that your customers want to feel proud of your brand and of being regular clients.  For help getting the necessary space, equipment and furniture to start your home beauty salon, get in touch with the team at Portman today.

How do I attract new clients to my beauty salon?

You can bring in new clients to your beauty salon and turn them into regulars in various ways. From increasing your social media presence and running treatment competitions to improving the quality of your brand and business with premises fit-outs and the latest equipment and technology in beauty services. All of these are proven to bring in new customers, but the longer-term plans with the finance behind them can help you to retain your new customers and convert them into regular clients.

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Brewery Finance FAQs

How much does it cost to set up a microbrewery in the UK?

Setting up your own brewery involves a lot of work and money to get started; however, it is difficult to set a guaranteed cost due to the various levels of equipment quality, locations, and production output required.  On average, microbrewery equipment costs tend to average around £40,000. For help with brewery finance, find out how we can help you at Portman today to discuss hire purchase and lease finance options available.

What equipment do I need for a microbrewery?

If you’re in the initial stages of starting your microbrewery, you should have a clear list of the necessary equipment to launch your brewery. Other than the cost of the premises, the equipment is a major cost, and so many people choose brewery finance options for aid in getting the business off on the right foot. To set up your craft brewery, you will need the following equipment; Mash System, Fermentation System,  Cooling System,  Filter System,  Controlling System,  Cleaning System

What is the difference between a craft brewery and a microbrewery?

Many people make the mistake of thinking the terms brewery and microbrewery are interchangeable when the size of each respective business is hugely different.  Craft breweries are independent breweries producing a much smaller volume than large-scale corporate breweries. They are ‘craft’ as they focus on creating quality beers treated as an art form created with passion and finely-honed techniques.  As the name suggests, microbreweries are much smaller on the volume scale and produce less than 15,000 barrels yearly. A minimum of 75% or more must also be served off-site, and a microbrewery must still meet the same requirements as a craft brewery.

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Farm & Agriculture Finance FAQs

Is there a difference between lease finance and hire purchase?

The major difference between hire purchase and lease finance is the matter of a deposit and VAT. Lease finance does not require a deposit to be paid and at the end of the agreement, the borrower has the option to either purchase, give back or continue to lease the property. Hire purchase is different as a deposit and VAT payment is paid upfront, and the borrower has a guaranteed entitlement to be able to purchase the asset upon agreement completion. To learn more about lease finance options and what may be the most suitable service for you, find out how we can best help you at Portman Asset Finance today.

Why is farming equipment so expensive? 

It is understandable if you’re looking into tractor financing and other hire purchase options for your agriculture equipment. Farming equipment can be extremely expensive despite being a fantastic investment. This is because many different factors go into making reliable and quality tractors and other farming equipment, such as the time they take to produce, advanced technology and ensuring they hold their value.  In addition to this, tractors and other farming equipment must also serve their purpose and safeguard the environment by controlling carbon emissions. So with the amount of time, money and effort that goes into creating premium-quality agriculture equipment, the price points for such pieces are reflective of such.  This is where agriculture and tractor financing comes in, as you can acquire the equipment you need to continue the smooth running of our farm whilst making affordable payments.

Will I own the equipment at the end of a high purchase agreement?

At the end of your hire purchase agreement on tractor financing, you will not automatically own the equipment upon which the agreement was made. However, you do have a guaranteed right to purchase. This means that the borrower can own the asset upon paying a nominal administration fee.  Find out more about the hire purchase options we have available for a wide variety of different sectors.

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