Engineering Business Loans
As a result, we offer a range of practical products that help growing companies secure finance for engineering equipment or new vehicles and other assets to aid expansion. From asset finance to unsecured loans, at AJL Finance we can offer a range of financial products tailored to meet your needs.
Unsecured loans for engineering enterprises
Cash flow is a critical concern for every engineering business, but sometimes firms face unexpected costs that involve a massive outlay when paid in a single sum, or considerable strain if paid outright. Unsecured loans help engineering businesses to borrow a lump sum to cover such a large expense and pay it back in manageable payments over a flexible term. Loans are not secured against assets, instead, company directors give their personal guarantee.
Unsecured loans are a suitable solution for many other situations including funding for VAT, tax, working capital and expansion, along with insurance premiums. Our service lets engineering firms borrow between £10,000 to £500,000 and funds are typically accessible within 48 hours and payment terms range between three and 60 months. When you need quick access to capital, an unsecured loan is the fastest and simplest solution.
Finance for engineering equipment
Asset finance is advantageous for firms who lack spending cash but require a quick and effective way to purchase engineering equipment for their operation. Buying expensive engineering equipment outright can put a serious strain on company finances. Asset finance is designed to lend companies the cash they require for vital purchases swiftly and simply with an affordable monthly cost and agreed repayment term.
Asset finance is often an easier financial product to secure than others, making it well worth considering. Having a fixed instalment plan is attractive to many companies as it enables them to manage their cash flow effectively and organise monthly outgoings.
We offer hire purchase and finance lease options to eligible engineering firms looking to secure equipment. Finance lease involves the cost and VAT spread over the payment term with the engineering equipment given back when the term ends. Hire purchase, on the other hand, involves VAT paid upfront, and the option to buy equipment for a single payment when the term ends.
Additionally, we also offer engineering businesses leaseback and sale options, where a finance-free asset purchased in the last three months is sold on to a funder, and the engineering business lease the equipment back at a fixed monthly cost. Finally, we also help companies with asset re-finance, enabling them to release equity retained in high-value fixed assets, like engineering machinery and equipment.
Do you need a bespoke engineering business loan?
At AJL Finance, we are proud to help UK firms in the engineering sector to access the funds they need. We can offer flexible rates, repayment terms, and loan amounts. For a finance decision in 48 hours, reach out to us today to secure the engineering business loan you need for equipment and expansion.