Grow your business the smart way
Asset Finance
Get the equipment your business needs to grow even if you don't have the cashflow to buy outright. They say time is money and with Asset Finance you can spread the cost of your purchase so you don't have to wait.
How asset finance can help your business
Asset finance is a quick and easy way to stagger the payments on the assets your business needs to grow. It’s a way to buy things like plant and machinery, yellow goods, commercial vehicles and trailers, and cars and vans.
You can use the asset immediately, and spread the cost over its useful lifecycle. Typically, it’s faster than most other forms of borrowing.
Fuel your business
Spread the cost of the things you need to grow your business – we finance everything from plant and machinery to cars and vans, trailers and yellow goods.
Peace of mind on repayments
No hidden fees or charges – just fixed monthly payments. We even take account of your seasonal cash flow fluctuations to right-size your repayments.
Release capital
Do you own valuable assets and want to unlock the money tied up in them? We can offer refinancing, too.
What you need to know
We’re up front with our customers about everything. We’ve created this handy summary of our Asset Finance key features so you can see the important information from the get-go.
| Deposit | Documentation fee | Interest rate | Maximum term |
|---|---|---|---|
| 10% | £250 or 0.5% of the amount borrowed, which ever is greater |
Fixed in advance | 7 years |
Deposit
Initially, you’ll just pay the agreed deposit – typically 10% of the asset value. It works a lot like getting a mortgage for a house.
Interest rate
We’ll set the interest rate in advance, depending on the type of asset and the market conditions. The rate doesn’t change during the term – you know exactly how much you’ll repay.
Monthly repayments
You pay fixed monthly repayments over the course of the loan. This can be up to 7 years depending on the asset. If you have seasonal cash flow fluctuations we can often arrange for you to make larger payments when you’re likely to have more ready cash available.
Our refinancing option
If you already own plant and machinery outright, we may be able to help you unlock the capital tied up in it.
We use a “sale and lease back” structure – you sell us the asset, which gives you a chunk of money to invest in your business. Then you lease the asset back from us so you can continue using it. You might be able to raise up to 75% of the asset value.
Get all the details to read at your leisure
Download our PDF to read when you like - it contains all the ins and outs of our Asset Finance.
Asset Finance Details (PDF) (778KB)
Terms and Conditions for Metro Bank SME Customers (PDF)(143KB)
Talk to us about asset finance
Get a quote
Give us a call
Contact our dedicated Invoice Finance Teams
| Office | Telephone number | Fax | Address |
|---|---|---|---|
| Guildford | 01483 531100 | 01483 565488 |
35-37 North Street, Guildford, Surrey, GU1 4TE |
| Basildon | 01277 237177 | 01277 204056 |
2/6 East Walk, Eastgate Centre, Basildon, Essex, SS14 1HH |
| Sheffield | 0114 256 0033 | 0114 244 5472 |
Hallamshire House, Meadowcourt, 5 Hayland Street, Sheffield, S9 1BY |
Alternatively, please contact Martyn Price, Regional Director, London and South
or James Scarborough, Regional Director, Midlands and North
FAQs
Got a question about banking at the Post Office? Find your answers here.
For any additional questions you can contact [email protected]
-
What assets can I fund?
You can fund physical business assets like machinery and cars. As rule of thumb, assets must be DIMS: Durable; Identifiable; Moveable; Saleable. We can also fund some ‘soft’ assets like telecoms equipment and computers.
If you want to buy pre-owned assets, we’ll usually have them independently valued before we agree to offer you financing.
-
What sectors do you support?
We can provide asset finance for many businesses including those operating in:
Agriculture
Bus and coach transport
Corporate transport
Construction
Manufacturing
Engineering
Healthcare
Classic and prestige cars
If your industry isn't listed here, we still may be able to help you. Get in touch with us to see how.
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How much does it cost?
Your fixed monthly payments cover the money you’re borrowing and 2 other costs:
1. A documentation fee – usually £250 or 0.5% of the contract value, whichever is greater
2. Interest charged at a fixed rate, agreed in advance. The rate we offer will depend on market conditions and the type of asset you’re buying
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How long can I get the finance over?
That depends on the asset and its useful lifespan. The maximum length of time is 7 years. Whether we provide finance depends on credit checks and approval.
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