Your funding partner for growth
Let us help fund your asset for growth
Your personable and local funding partner who simply understands you and your business
Let us help fund your asset for growth
Your personable and local funding partner who simply understands you and your business
your growth partners
Products
Hire Purchase
This product is as described, a hire period followed by purchase at the end of the term. This gives your business ownership of the equipment to continue using it for the remainder of its lifespan or an opportunity to sell retaining 100% of the proceeds. This is the most commonly used finance product for vehicles, construction & manufacturing equipment - any equipment that will likely live longer & retain value for longer than the finance term.
Finance Lease
As with any of our lease products, this is a rental contract. The prefix, in this case finance, defines what happens at the end of the term. There’s 3 options, 1. You can continue leasing the equipment from the lender, usually at a cost equivalent to 1 monthly payment paid annually. 2. You can sell the equipment on behalf of the lender and retain a % of the sales proceeds - usually 95%. 3. You can return the equipment to the lender.
Fixed Term Lease
This product is strictly a hire product and doesn’t give you the opportunity to benefit from ownership of the equipment, nor any residual value in the asset. You’ll rent the equipment for a fixed period, typically 3 or 5 years, then return the equipment to either the original supplier or the lender that we’ve introduced you to. This is best used on equipment with a limited lifespan that regularly needs refreshing & upgrading such as IT, telecoms, printers or catering equipment.
Operating Lease
This is a crucial product for clients who wish to keep the assets within the business off their balance sheets and to recognise the costs of leasing as an operational cost (often referred to as op-ex). This is another type of rental product provided on a variety of equipment & vehicles. Generally it applies to new equipment only, which enables you to return the equipment to the lender/supplier at the end with the costs of your rental reduced based on the residual value of the asset.
Refinance
Refinance is a specialist form of hire purchase whereby you sell assets currently owned to the lender to release the equity back into the businesses cash flow. It can be used on assets the business already owns outright, or on assets on finance already with a small amount of time remaining on the original term. Equity is paid back into the business to enable spending on areas in the business that asset finance can’t support such as recruitment, innovation investment or stock purchasing.
PCP
This is a product specific for the personal car finance market. If you're a private individual looking to finance a car that's under 4 years old - this product is likely best for you. This product is designed to keep monthly payments low by using a balloon payment at the end of the term. The balloon payment is based on the car itself, so differs depending on spec or start mileage if used. It's also based on your estimated annual mileage. The lender even offers to guarantee that the vehicle will be worth the balloon, so gives you the option to hand this vehicle back to them if the value doesn't stack up (subject to mileage & condition charges)
Contract Hire
This product is typically associated with vehicles, but is also common in the materials handling sector too. This is similar to an operating lease but often includes the costs of servicing & maintenance to give a full & complete operating cost on a monthly basis.
Sale & HP Back
If you need to buy equipment quickly, it can be helpful to pay the supplier directly before being reimbursed by a finance house. This is Sale & HP Back. You purchase the equipment, sell it to the finance company on the same terms then take back ownership through an HP agreement. A really helpful product to get you moving quickly, releasing cash back to you within 90 days of payment to the supplier.
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Possible Product Features
VAT Deferrals
This enables you as the client to reclaim the VAT from HMRC before paying it to the finance company. This will be added to your normal monthly payment amount and you'll pay this in line with your VAT return, so it's paid back in months 1, 2 or 3. We also have the ability to spread the VAT across these payments rather than a lump sum if this helps to support your cashflow.
Seasonal Payments
Generally, monthly payments are the best way to repay the lender, but it can be better suited for your business to pay Quarterly, Semi-Annually or, Annually. This can be helpful if your business is seasonal, either with harvest or if you're in coastal hospitality.
Balloon Payments
A balloon payment is a standard feature on a PCP agreement for private car finance, however it can also be used on some commercial asset finance deals too. The balloon is determined by the lender, and is generally set at a level based on the expected usage of the asset & its expected future value.
Variable Rate
This is a product that is starting to increase in popularity in the market now that the Bank of England Base Rate appears to have peaked. This product enables the interest rate (& therefore your repayments) to fluctuate (up or down) through the agreement as it tracks & moves in line with the Bank of England Base Rate. This can also be helpful to enable early settlement of an agreement.
Flexible Payment Structures
This can cover a wide variety of scenarios, whether this be low starting monthly payments to support you getting your new equipment working efficiently and at optimum levels, or whether you want to put in a lump sum of money at a particular point of the year to help reduce the outstanding capital quicker.
Speak with us
If you want helpful advice to support your business to grow, give us a call and we'll come and see you in person.
The right funding. At the right time. For you.
We’re the funding partner you’ve been searching for - we’re local, we aren’t afraid of phone calls, and whisper it... we’ll even come and meet you face to face. Let us help find your funding options.
The right funding. At the right time. For you.
We’re the funding partner you’ve been searching for - we’re local, we aren’t afraid of phone calls, and whisper it... we’ll even come and meet you face to face. Let us help find your funding options.
Let our clients do the talking!
Testimonials
"I would definitely recommend these guys!"
"I reached out to Mikey at Focalise Finance after hearing about them locally. After a really helpful initial chat, we worked out the best solution for me. The funding was all agreed quickly and we soon caught up face to face to get documentation signed which was a nice touch. We were working to quite a tight time scale as the vehicle had been booked in with the graphics company just before I was going away on holiday. As promised, everything was sorted in time and I am very happy with my new truck. I would definitely recommend these guys!"
"It was seamless and nothing felt like too much"
"We sat down to discuss what sort of thing I was looking for and where my budget would be based on what I could afford monthly. It was seamless and nothing felt like too much. Both of the boys were constantly checking in, including Mikey when he was on holiday! Given they're just around the corner, we met personally for a coffee and to sign the paperwork and for me to ask anymore questions I needed. As if the service wasn't enough already, they even gave me a lift to pick up my new car. If that's not 5 star service, I don't know what it is. Without doubt I will be a returning customer and I have already recommended them to family and friends."
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