Portman FAQs

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

Yes, Portman does offer seasonal payment terms. 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.

The answer is yes, though it may present additional challenges. A County Court Judgment (CCJ) can influence a lender’s assessment of risk, as they prioritise repayment assurance.

We acknowledge that businesses can experience financial fluctuations and cash flow difficulties. While a CCJ is a serious matter, it does not automatically preclude access to commercial finance. Lenders typically review credit records as part of their evaluation process, and some may require applicants to be free of CCJs.

What is a CCJ?

A CCJ is a court order in the UK registered against an individual or business that fails to repay owed debts. If a creditor seeks to recover outstanding funds, they can apply to the County Court for a judgment.

Following review, the court may issue a CCJ, mandating repayment. Unless the CCJ is settled in full within 30 days, it is recorded on the Register of Judgments, Orders and Fines and remains on the credit file for six years.

How can Portman help?

For businesses seeking finance with an existing CCJ, we suggest contacting our team for a consultation. While a CCJ may not represent an absolute barrier to finance, each case is unique. Our panel of lenders and lending criteria may still offer suitable options. It is generally considered more advantageous to have resolved any outstanding CCJs before pursuing further finance.

Get in touch to learn more

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

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.

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.

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.

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

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, company turnover, how much money is required and what the funds are being used for. For customers with the best credit rating, Annual Flat Rates start from: Vehicle Finance – 5.5% Asset / Equipment Finance – 5.9% Growth Guarantee Scheme Asset Finance – 6.49% Unsecured Term Loan – 7.2% No PG Tax Loan – 9.4% Short-term Loan – 12.3% Short-term Flexi-Loan – 13.2%

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.

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.

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.

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.

Yes, you can change your accounting period for tax purposes in the UK by notifying HM Revenue and Customs (HMRC) in writing with a valid reason. It’s important to ensure compliance with HMRC guidelines and seek professional advice to navigate the process successfully.

Yes, you can use a personal credit card for business expenses. However, it is generally recommended to keep personal and business expenses separate for better financial management and accounting.

Small businesses with poor credit may face challenges in accessing traditional financing options, but alternative avenues exist. For example, a cash flow loan does not rely on credit history for the loan terms but instead on a healthy cash flow history. This also makes it a perfect option for small businesses with a short credit history. Learn more about the Role of Cashflow Loans in Business Financing in our guide.

If you have been contacted by 01604 761276, we have tried to get in touch to see whether you require business funding. If you require your preferences to be updated, call us back on 01604 761276 or contact us online to get this changed.

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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.

Yes, working capital loans can be used to consolidate or pay off existing debts, helping improve cash flow and manage financial obligations.

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.

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.

We can fund any sort of asset, be it a traditional ‘hard’ asset such as machinery, commercial vehicles, forklifts, to more ‘soft’ assets such as technology, catering equipment, refurbishment projects, 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.

You can use business asset finance in various ways to suit your company and requirements. There are different types of asset finance, for more information see our helpful article: 6 Types of Asset Finance – Finding the Right Solution.

As a use case 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.

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.

For more on the different types of asset finance, read our helpful article to see what works best for your business: 6 Types of Asset Finance – Finding the Right Solution

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.

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.

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.

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.

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.

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.

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. 

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Yes, a range of online tools are available to help you with cash flow management for your business. There is plenty of research and information available online to help guide you to the best tool for your needs and requirements. However, for medium size businesses, we can recommend The Access Group, and for accountants, Sage, also has some excellent business management tools. 

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.

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.

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.

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.

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.

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.

Government-backed loans, currently the Growth Guarantee Scheme (GGS) is a scheme where the government provides the Accredited Lender with a 70% government backed guarantee against the outstanding balance of the facility after it has completed its normal recovery process, reducing the risk for the lender and making it easier for businesses to access finance. These loans are designed to support businesses, especially during challenging economic times. The borrower always remains 100% liable for the debt.

The Growth Guarantee Scheme is expected to be available from 1st July 2024 until 31st March 2030.

The Growth Guarantee Scheme was announced in the Spring 2024 budget by the Conservative Chancellor Jeremy Hunt. It is administered by the British Business Bank and delivered through a panel of lending partners. Lenders who wish to participate in the scheme then need to be accredited by the British Business Bank. Lenders must adhere to the terms of the scheme but may add their own criteria when assessing a business’s suitability for this or other finance products. As part of your enquiry with Portman, we will look across our panel of lenders matching you with an appropriate funder based on your situation. Lenders whose portfolio includes GGS will make an assessment of suitability alongside their other products. Businesses do not need to use a broker to access the scheme, though doing so may provide a wider range of financial options. If a business takes a loan covered by the scheme, their relationship for the duration of the loan is primarily with the lender, but if a broker such as Portman were used, they will also keep in touch.

Repayment terms for loans obtained through the Growth Guarantee Scheme can extend up to 6 years, providing SMEs with flexibility in managing their repayments.

The RLS was introduced in April 2021 to ensure businesses could continue to access finance as they recovered from the pandemic. It provided loans, overdrafts, and other forms of finance, with the government guaranteeing 80% of the finance to the lender. RLS stopped taking applications on 30th June 2024.

The BBLS was introduced in May 2020 to help small and medium-sized businesses access quick finance during the COVID-19 pandemic. Businesses could borrow between £2,000 and £50,000, with the government guaranteeing 100% of the loan. See more details on our Bounce Back Loans (BBL) page.

Businesses that took out a Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS), Bounce Back Loan Scheme (BBLS) or a Recovery Loan Scheme (RLS) facility before 30 June 2022 are not prevented from accessing the Growth Guarantee Scheme, but borrowing under some of these Schemes may reduce the maximum amount the borrower is eligible for.

Personal guarantees were not required for facilities below £250,000 under CBILS. For facilities above this threshold, personal guarantees might have been needed at a lender’s discretion, with recoveries capped at 20% of the outstanding balance and excluding the Principal Private Residence (PPR) as security.

Government spending increased significantly during the pandemic, rising from 39.6% of GDP in 2019/20 to 53.1% in 2020/21. This increase reflected the substantial financial intervention required to mitigate the pandemic’s economic impact.

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

No, the BBLS closed to new applications on March 31, 2021. However, businesses that secured a BBLS loan before the deadline can continue to benefit from its terms and repayment structure.

The Recovery Loan Scheme was launched on 1st September 2022 and was closed to further applications from midnight on 30th June 2024. However, government-backed funding was brought back through the Growth Guarantee Scheme which will run until 31st March 2030, following an announcement in the Government’s Spring Budget, with a pledge of an additional £500m in funding.

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. 

Yes, businesses that had been declined by other lenders for traditional finance options could still have been eligible for CBILS. The scheme aimed to provide financial support to businesses that were unable to secure funding on standard commercial terms due to the COVID-19 pandemic.Yes, businesses that had been declined by other lenders for traditional finance options could still have been eligible for CBILS. The scheme aimed to provide financial support to businesses that were unable to secure funding on standard commercial terms due to the COVID-19 pandemic.

The Bounce Back Loan Scheme allowed eligible businesses to borrow up to £50,000, subject to certain criteria. However, you may explore other financing options, such as the Growth Guarantee Scheme, to meet your business’s financial needs. It’s advisable to consult with your lender or financial advisor to discuss your options and determine the best course of action for your business.

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 will not be your lender for a Recovery Loan, check your paperwork to find out who your lender is.

CBILS provided financial support to smaller businesses affected by the pandemic. It offered loans of up to £5 million, with the government guaranteeing 80% of the finance to the lender. This scheme helped businesses manage cash flow and continue operations during the pandemic.

Recovery Loans ‘RLS’ was launched by the UK Government on 1st September 2022 but was closed to further applications on midnight on 30th June 2024. However, the Growth Guarantee Scheme has taken its place as the current government-backed finance initiative, recently extended until 31st March 2030, with a pledge of an additional £500m in funding.

CBILS funds could be used for a wide range of business purposes, including managing cash flow, covering operational expenses, investing in equipment or technology, and supporting business growth initiatives. However, funds could not have been used for personal purposes or to repay other debts owed to the lender.

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.

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.

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.

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.

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.

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.

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 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.

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.

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.

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.

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.

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.

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.

We can fund any sort of asset, be it a traditional ‘hard’ asset such as machinery, commercial vehicles, forklifts, to more ‘soft’ assets such as technology, catering equipment, refurbishment projects, 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.

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?

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.