How it works, end to end

7 min read read

Asset finance can feel like unfamiliar territory if you have not used it before, particularly if you are used to dealing directly with a single bank. As a broker, we work a little differently: rather than putting you in front of one lender and hoping for the best, we place your proposal in front of the funders most likely to say yes on the right terms. That distinction shapes everything that follows.

1. The initial conversation

Everything starts with a conversation, usually by phone, about what you are looking to buy or refinance, the rough value, and the shape of your business. We are not trying to catch you out with a form at this stage — we want to understand the asset, the urgency, and anything unusual about your circumstances so we can point you towards the right structure from the outset, whether that is hire purchase, a finance lease, or a refinance of something you already own outright.

2. What we need from you

Once we have a shape for the deal, we will ask for a short set of information to put a proposal together. For most straightforward cases this is genuinely light-touch, especially for established businesses and lower-value assets. For larger transactions, or newer businesses, funders will reasonably want a fuller picture.

• Basic company details (name, registration number, trading history)
• Details of the asset — description, condition, age, and a quote or invoice from the supplier
• Recent bank statements (typically three to six months) for larger or more complex cases
• Latest filed accounts, and management figures if the last year-end is some way behind
• Details of any existing finance agreements you hold
• Photo ID and proof of address for directors or partners, particularly on new-to-us applications

3. How we approach the funder panel

This is where being a broker rather than a lender makes a practical difference. We hold access to over 40 UK funders, from the well-known high street names to specialist asset finance houses that focus on particular sectors or asset types. Rather than sending your proposal everywhere at once, we use our knowledge of each funder's current appetite — for your sector, your asset type, and your credit profile — to approach a small number who are genuinely likely to want the business. This tends to produce faster, cleaner decisions than a scattergun approach, and it avoids the search footprint that comes with multiple speculative credit applications.

4. Decision

Funders assess the proposal against the asset, the numbers, and your credit history. For established businesses with straightforward requirements, approvals are typically returned within one business day. More involved cases — larger sums, unusual assets, or newer companies — may take a little longer if a funder wants additional information, but we manage that process on your behalf rather than leaving you to chase.

5. Documentation

Once a funder has approved the proposal, they issue finance documents for signature. We talk you through these before you sign anything, so you understand the payment profile, any fees, and what happens at the end of the agreement. Most funders now offer electronic signing, which keeps this stage quick.

6. Payout

With signed documents and satisfactory pay-out conditions (for example, a supplier invoice or proof of ownership for a refinance), the funder releases funds directly to the supplier, or to you in the case of a refinance. You take delivery of the asset, or retain use of it in a refinance, and start using it in the business straight away.

If you are weighing up structures before you approach us, we will give you an indicative monthly figure to work with. When you are ready, get in touch and we will take it from there — there is no charge for a quotation, and no obligation to proceed once you have one.