Revised Pricing On Asset Finance & Leasing

asset finance rates

We are very pleased to announce that we have revised our pricing across all our asset finance products. To discuss your next capital equipment purchase call Enable Finance for a very competitive quote. 

Hard Assets

  • Commercial Vehicles inc. HGV, LCV and Trailers
  • Plant equipment
  • Print and Packaging equipment
  • Manufacturing equipment
  • Buses and Coaches
  • Materials Handling equipment and Access Platforms
  • Cars for business use
  • Waste and Recycling equipment
  • Agricultural and Forestry equipment

Soft Assets –  equipment with lower residual values

  • IT Equipment inc. Software
  • Office Technology inc. printers, copiers and franking machines
  • Telecoms Equipment
  • Security Equipment inc. Tracking Units and CCTV
  • Garage Equipment

 

  • Catering and Laundry Equipment
  • Audio Visual Equipment
  • Shop Fittings, Racking and Scaffolding
  • Renewable Technologies inc. Biomass, Solar Panels and Wind Turbines
  • Engineering Accessories inc. Tooling, Blades and Attachments

 

Don’t forget we also provide asset refinance and cash-raising for the following reasons:

 

  • Management Buy Out (MBO) and Management Buy In (MBI)
  • Turnaround finance
  • Debt restructuring / consolidation

VAT Loans – Funding Solutions To Spread The Cost Of Tax

vat loans

We offer VAT Loans to all UK businesses allowing you to spread the cost of your quarterly VAT liability. 

Cash flow is king for business and our VAT Loans can help make sure that your working capital is kept operating where it’s the most profitable for your Company.

Our VAT funding solutions can take the sting out of managing large quarterly tax liabilities that VAT can create.

Advantages of using a VAT Loan

If you’re a growing business it’s likely that you could always make better use of your cash than send it to HMRC. Here are a few advantages of how our clients have used our VAT funding solutions to boost their working capital.

  • Smooth out cash flow peaks and troughs
  • Use the retained cash to fund new orders and business opportunities
  • Help manage cash shocks created by changes in supplier payment terms.
  • Convert large Quarterly tax payments into manageable monthly repayments.
  • Help smooth out cash flow pressures from other areas of your business such as Customers needing longer payment terms.

What is a VAT Loan & How does it work?

  • A VAT loan is an unsecured business loan designed specifically to pay your HMRC VAT liability created from your sales revenue.
  • To take advantage of VAT funding solution all you need to do is inform us of the upcoming VAT liability and provide us with a copy of your last filed accounts and we would typically come back with a decision within 48 hours.
  • The lender will typically pay HMRC directly on your behalf and you would then pay 3 equal repayments to the lender.

Who is eligible for a VAT Loan

  • We consider all UK trading Companies.
  • Minimum VAT liability greater than £10,000
  • We like to see a positive balance sheet but we don’t have a minimum.
  • Your Company is not in current arrears with VAT or in a time to pay arrangement.

Take a look at our common questions below or if you would like to read more about what other business loans provide follow the link provided.

Common Questions about our VAT funding solutions

What if I have paid my VAT already?

If you have just paid your VAT directly to HMRC we can still help as we can rebate the VAT you have paid back to your Company as long as its within 14 days. 

What if I have had previous VAT arrears?

If you have had previous VAT arrears we can still consider your application as long as we are aware and what's changed now to prevent this happening again.  

What if my business has bad credit?

If your business has current and outstanding bad credit registered we are unlikely to be able to assist with one of our unsecured VAT loans. It may be worthwhile you giving us a call on 0114 2945046 as other funding solutions may exist. 

Can my repayments be delayed by one month?

Yes, we can delay your loan repayments by up to 1 month giving you one month breathing space. 

Can I bridge a VAT liability from a property purchase?

Yes, we can help bridge a VAT liability created from the purchase of a property. The funding solution is structured differently to our trading business VAT loans as no repayments are due until the VAT is reclaimed from HMRC. Talk to us on 0114 2945076 for more info

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If your business currently has a negative net worth on its balance sheet we can consider other options such as one of our unsecured business loan solutions. So its still worth talking us. 

Scottish Pacific Business Finance closes its UK operation

Closed

Scottish Pacific Business Finance has announced that it will be settling no new working capital facilities in the UK with effect from 6 February 2019 and will be supporting existing clients until the end of April 2019

Scottish Pacific launched in the UK business four years ago to service the import finance market and then introduced an invoice finance capability two years later. During that time the influx of unsecured lenders has led to both markets becoming oversupplied. After an extended period of review, and despite making several changes they have made the tough decision to close the UK office.

Secure funding against R&D tax credits

funding R&D tax credits

Companies who invest in research and development are eligible for a cash payment back from HM Government. Once the R&D tax credit has been approved it can take many months before the cash is received. Enable Finance is pleased to announce we can fund this gap between your R&D tax credit approval and funds being received from the Government.

R&D Tax Credit Funding:

  • An unsecured business loan – secured against the R&D tax credit approval document.
  • Bridges the gap between approval and funds received
  • No monthly repayments, interest is rolled up and cleared when the R&D tax credit is paid
  • Receive working capital today on the strength of R&D tax approvals.
  • The R&D tax claim must have been arranged by a professional third party
  • We may require proof of previous successful claims.

For more information on how we could fund your working capital on the strength of your R&D tax credits please call 0114 294 5046 or apply online below.

Supply chain finance facility gives asbestos removal company extra working capital

supply chain finance for asbestos company

Client: National asbestos removal Company.

Turnover: £3.3 million

Facility: Supply Chain Finance

Location: South Yorkshire

A fast growing asbestos removal Company needed additional working capital as their contracts grew faster than their traditional bank overdraft could service. Working with the Managing Director and Company accountant Enable Finance moved quickly to understand how the business operated and worked under JCT contracts.

After understanding the contractual nature of the business and the fact the client needed the funding to be unsecured Enable Finance moved quickly and delivered a supply chain finance facility. Providing the client with a revolving credit facility allowing them to extend terms with their suppliers by up to 120 days.

For more information on how Enable Finance could fund your business growth please get in touch.