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Finance for Fit-Outs & Refurbishments
- £10k to £2mil. 3 months to 6 years.
- Business Loans & Asset Finance.
Finance Your Commercial Renovation with Portman
With the rapid growth of online shopping, retailers have needed to up their game. Investing in a commercial renovation or shop-fitting is a smart way to provide an experience that can’t be replicated online or in the home.
An interior fit-out can refresh your image, attracting new customers, creating a welcoming and aesthetically pleasing interior. Redesigns can also offer improved efficiency and productivity, particularly if you improve stock management and energy usage at the same time.
Shop fitting finance allows you to cover the cost of this interior upgrade. With a wide range of finance products, our experts will personally guide you in finding the right option for your business, allowing you to spread the cost of your fit-out project.
What is Fit-Out Finance?
Simply put, fit-out finance is a solution allowing you to cover the cost of a refurbishment project. Getting it right often involves using a combination of lenders to achieve appropriate rates for each element of the works.
Refurbishments usually involve a level of furniture, equipment, HVAC, redecoration works and electricals and technology. Portman can help you be smart about funding these using specialist lenders. Options such as soft asset finance, business loans, or refinance, allow you to spread the cost of far more than most customers thought possible. From catering equipment to POS systems, to flooring and tiling.
How Customers Have Used Fit-Out Finance
From lighting & electrical installations for your office, to your planning costs for your restaurant fit-out, finance can fund any refurbishment need you may have.
Sector: Hotel, Leisure and Hospitality
Location: London
Product: £64,000 Asset Finance
Aim: This business intended to upgrade their restaurant and hotel to enhance their customer experience and attract new visitors- boosting their overall profitability and supporting long term growth.
Funds used for: New equipment to upgrade their rooms and restaurant.
Sector: Veterinary Business
Location: Lancashire
Product: £100,000 Hire Purchase
Aim: This business desired a new premises to improve their ability to accommodate to their growing client base, thereby enhancing their revenue streams and improving overall profitability.
Funds used for: Relocation costs, including equipment installations and planning costs
Sector: Retail Business
Location: Manchester
Product: £15,000 Asset Finance
Aim: This business sought finance for new display cabinets to increase the visibility of their high value items- expected to improve inventory turnover and contribute to increased revenue.
Funds used for: New display cabinets
How else have we funded shop fittings? Read our detailed case study.
What Parts of a Refurbishment Can I Fund ?
- Lighting & Electrical Installations
- Interior Design & Decoration
- Tiling / Flooring
- Building Works
- Heating / Air-con
- Furniture
- Bars & Counters
- Plumbing
- Stock
- Cooking / Refrigeration Units
Finance Available For My Fit-Out Project
- Term Loans: Borrow a lump sum, repay it over a period of time and tailor your funds for any fit-out need.
- Equipment Leasing Finance (a type of Asset Finance): Perfect if you’re looking to use an asset for your shop fit only. Rent hight value equipment, technology, or furniture at a lower cost through regular payments- no upfront cost.
- Hire Purchase (a type of Asset Finance): Very similar to Lease Finance but at the end of your rental period, you have the option to own the asset yourself.
- Commercial Bridging Loans: If you need funds immediately, bridging loans is a great short term finance option for your shop fit project.
- Merchant Cash Advance: A flexible repayment option tailored for businesses with retail facilities. Repay a portion of your advance through card payments, aligning with your revenue stream.
*Asset Finance may allow you to pay less tax on your fit-out project: Lease Finance and Hire Purchase, both forms of Asset Finance, often allow you to deduct the asset’s value from your company profits, reducing your corporation tax liability. This means these payments towards your shop fit can be written off against the company’s tax bill- helping you keep your cash for other future opportunities.
Check out our article for more information on Asset Finance.
Customers Who Regularly Finance Their Fit-out
- Offices
- Retail
- Leisure
- Hospitality
- Garages
- Care Homes
- Restaurants
- Agencies
- Warehouses
- IT & Tech
Is Fit-Out Finance Necessary?
Fit-outs may require significant upfront investment, which may dissuade you from starting or completing that project your business needs. Of course it’s possible to pay for anything using cash reserves if you’re comfortable with the reduction on your balance sheet. Finance simply provides a way of getting all the refurbishment you need without that initial payout.
Fit-out finance can make your dream interior more achievable and ease the strain on your existing business funds.
Refurbish your Business Premises with Portman
At Portman, we understand the importance of tailoring finance options to meet your business’s specific need. Our finance experts will work to ensure each financial solution matches your project size, project aims, and credit profile- perfectly suiting your fit-out needs. Whether you are just starting out or are an established business, we are committed to taking care of you and genuinely want the best for your business.
Find out more about how we work.
