Asset Finance for the Tourism, Hospitality and Leisure Industries
For entrepreneurs in the bustling tourism, hospitality, and leisure sectors of the North of England, managing a thriving business is an all-encompassing endeavour. The desire to enhance your hotel accommodations, modernize your culinary haven, or revitalize your bar space is undoubtedly present, yet the daunting task of securing the right financial backing can seem like an insurmountable challenge - we can support you.
1. What can I buy using Asset Finance?
Almost anything can be purchased with asset finance including:
- Hotel and restaurant furnishings, fixtures and fittings
- Cookers, grills and ice makers
- Dish and bottle washers
- Refrigeration and counter display units
- EPOS, CCTV and security equipment
- Computer equipment and telephone / alarm systems
- Mezzanine flooring and shopfittings
- Care home equipment
2. What types of finance is available?
Hire Purchase, Finance Lease, Unsecured Loans
3. How much can I borrow, at what rates and over what period?
Minimum advance tends to be £10,000 with no upper limit, depending on the financial strength of the business. Rates vary again depending on credit rating but are very competitive. Periods tend to range from two to seven years.
4. What does re-finance mean?
Unlocking the value of your owned assets to improve your cashflow. Funders will tend to lend you up to 80% of a forced sale value of the asset.