Resurrect your business quickly by financing a HGV using asset finance

What is asset finance? An asset finance loan is a loan that is secured by the guarantee of an asset. This means that the asset can be taken back by the bankers if the loan money is not repaid according to the agreed terms. This type of finance helps businesses and corporations to borrow money by using their assets that do not normally figure in more conventional loans. More commonly loans are connected to accounts receivable, inventory, equipment or machinery. This may encompass a range of businesses who require the buying of new or old machinery to revive the business, getting refinance on the existing machinery, buying agriculture equipment, purchase of vehicles for commercial purpose and buying printing machinery and heavy vehicles, etc.

The loan is granted against the purchased or existing machinery, and the borrower would pledge the asset as a guarantee. The return of the loan is done by working out monthly installments that are comfortable to pay and tied to the revenue generating cycle of the borrower. This makes the return of loan by the borrower rather easy. Such asset based financing is availed by individuals and SMEs that are the neediest whenever they need to raise funding to meet various business demands. The asset finance companies usually process and grant the loan within 24 hours and in order to be so quick, they do not usually conduct credit checks. Therefore, this scheme is highly beneficial for people with inferior credit rankings or bad credit rankings. It is also most suitable for business owners who do not have the patience to get finance from the traditional institutions.

HGV finance or Heavy Goods Vehicle Finance is another great financial instrument designed to increase the fortune of business owners running vehicles on a hire basis. Not many transport carriers own the HGVs, but they are great money making machines as they fetch a greater amount of rents in the market. They are normally an easy loan as the borrower will very quickly dispose off the loan and in the process earn sizable profits from the endeavor. 

Asset financing companies lend money to buy new or old trucks to increase existing fleets, and also finance HGVs to add more resources to existing businesses. Some vehicle financing includes all-terrain vehicles, agricultural tractors, cultivators and harvesters, ambulance cabs, tankers, buses and coaches. By obtaining such finance from a private asset lending company, the borrower can substantially resurrect their business in very quick time.