Lease Financing

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  • Get what you need now
  • Competitive rates tailored to your business
  • Fixed repayments, flexible structure
  • Soft & hard assets
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505 reviews on 4.8 stars
 
  • Both a lender & broker
  • Over £1bn financed since 2007
  • Expert personal service
Equipment Lease Finance

Lease Financing for your Business

How does it work?

Simplify the Lease Financing Process with Portman

We know that finance can sometimes be confusing and stressful, but what we do is simple. We understand the stress and cost of funding a business. Financing is a great way to help things run more smoothly and give you access to the essential equipment you need.

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1. Get started in 1 minute.

Enquire without affecting your credit score.

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2. Understanding your business.

A dedicated account manager will discuss your needs and collect documentation.

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3. Our experts do the leg-work.

We find the right deals, complete applications on your behalf and get you a no obligation quote.

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4. Your no-fuss finance is funded.

If accepted, your assets will be bought and delivered or the finance released to your account.

Enquire today
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What is equipment lease financing?

Equipment leasing is a form of finance that allows a business to acquire hard or soft assets without the upfront costs associated with large purchases. For example, a business may need to add or replace equipment, buy a vehicle or refit their premises, enabling them to expand or keep up with the market. A lender purchases the item, the business then leases it back through fixed monthly payments over an agreed period. 

Typically, asset finance is provided for high value ‘hard’ assets such as machinery, equipment or vehicles, but Portman can also arrange asset finance for ‘soft’ assets such as IT, fitness, catering or vending equipment, as well as premises fit-outs, furniture or even air-conditioning. 

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How Equipment Lease finance works

When a business is looking for new assets, they identify what is required and who they would like to buy it from. They then contact Portman to discuss their finance options who then find the deals that best suit the business need. Monthly repayments and terms are agreed and a financial agreement is formally accepted. As both a lender and a broker, either Portman or one of our panel of lenders will buy the item, which will be delivered to you. Fixed repayments are then made until the end of the term. 

Our team of experts is ready to help

We help a range of companies lease the equipment they need to help their business startup. Give us a call to learn more about how we can help you with your equipment leasing needs. Portman has been powering UK businesses since 2007 with a range of financing solutions. Our personal and professional service has secured over £1 billion in funding and enabled a variety of companies. Here are just some of the sectors our services have been used for:

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What happens at the end of the lease finance period?

As the asset was originally purchased by a lender, during the repayment schedule the item remains the property of that lender. Lease agreements are typically on a minimum term or fixed term lease. A fixed term lease automatically ends, whereas a minimum term lease continues after the initial term, allowing the customer to continue renting the equipment, hand the item back to the lender, or usually arrange for the purchase of the asset outright for a fee.  

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How much does equipment leasing cost?

The interest rates available to each business can be very different because individual circumstances, credit history, business performance and the type of asset being purchased all affect the rate. Being both a lender and a broker, Portman can explore the market on your behalf and approach multiple providers. We then find a single deal or combination of deals which best suit your requirements. Businesses with strong credit ratings can achieve annual flat rates of 5% for asset finance. 

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Why use lease finance?

  • Get what you need now, beat price inflation
  • Invest in new machinery, equipment and vehicles
  • Preserve existing credit lines
  • Spread your costs with fixed monthly payments
  • Potential tax advantages
  • Preserve cashflow for operational cost and contingency
  • Enable business growth
  • Secure fixed competitive rates
  • Protect your personal wealth
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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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General Enquiries

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 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.

Our experts can find the right funding for you.

Find out how we can help today.

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