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What is ‘asset-based’ finance?
Just as a mortgage is secured against a property, asset-based finance is secured against the asset we’re financing for you – a car, some machinery, IT, and so on. Because our costs can be recovered if needs be, we can usually lend up to 100% of the asset’s value, as well as tailor your repayments to the life of the asset.
How much do we need to find as a deposit?
This depends on the asset you want to buy, but we have very flexible structures to meet the needs of your cash flow. Just ask for a specific quote on what you have in mind.
Do you ask for security?
Not usually – the asset you acquire acts as our security.
How much will you lend?
We have no maximum limits, although insurance underwriting may be needed. Tell us what you need.
To make your decision, what information do you need from us?
Naturally, this will depend on the asset you want and how much is involved. But often, a copy of your most recent accounts may be all we need to see.
We want to acquire assets overseas; can you help us with that?
We have no problem in principle with financing overseas assets, although this can be a complex area. But do talk to us; we always want to help make your plans work if we can.
Can we sub-let assets?
A charge is needed if you’re planning to hire out an asset long-term. But we’re flexible, so please talk to us about your plans.
Why don’t you quote APR figures?
There is no standard APR because each quote is individually tailored, according to your company’s credit status, the asset, the amount and the length of the term.
How fast will we get the assets we want?
We move quickly. Once we have all the information we need (and subject to terms and conditions) the asset could be with you inside 24 hours.
Do you do personal finance as well?
Please contact our personal banking team.
We don’t bank with Barclays. Is that a problem?
Not at all. We work with many businesses who bank elsewhere.
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