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General Enquiries

Can I get finance if I am based outside the UK?

Unfortunately, we are not able to help unless both you and your business are based in the UK.

My business has been trading less than 2 years, can I still get finance

Unfortunately, our funders are looking for established businesses when dealing with sole traders and small partnerships. We would not want to raise your expectations by taking application details when we are not able to help.

My credit profile is weak, can you still help?

Whilst we do have funders that will consider different credit profiles, there are some situations where it is very unlikely that you will be eligible for finance. Please see the list on our enquiry form, or speak to one of our advisors.

Why do you want to know if I or my business partner(s) are a homeowner? Are you only offering secured finance?

Our business loans and asset finance are all unsecured products. However, on top of the affordability assessment, funders will take into consideration your profile and financial history when making decisions.

I own a limited company, can you help provide finance?

Portman Financial Services works exclusively with sole traders and small partnerships. However, the Portman Finance Group has been assisting UK SME’s of all sizes for over 15 years and has arranged £1billion of business finance. More information and an application form can be found at www.portmanassetfinance.co.uk

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Asset Finance

What are the minimum and maximum amounts I can borrow? 

The amount that you can borrow very much depends on a combination of your own personal circumstances and the trading history of your business. Broadly speaking we offer affordable finance agreements, which will start from £10,000 with the maximum amount dependent upon the scale and success of your business.

How long will I be paying back the finance? 

Various terms are available up to 6 years. Options available to you may be dependent on the circumstances of your business and the assets you are looking to obtain, but then the final choice is up to you.

What is asset finance?

Asset finance is a flexible way for business owners to obtain essential equipment for their company, offering a quick and convenient alternative to more traditional lending methods such as bank loans. It involves making regular payments for the use of an asset, such as a key piece of equipment, over an agreed period of time, saving you from the cost of buying it outright. This preserves your cashflow and frees you up to invest in other areas of the business. At the same time, you are generating income from your new asset while paying for it. For small-to-medium-sized businesses, asset finance is one of the most accessible and flexible forms of finance, as well as an effective strategy to generate growth.

What can be financed? 

We can fund most tangible assets, be it a traditional ‘hard’ asset such as machinery, tractors, forklifts and vans, to more ‘soft’ assets such as IT software, office supplies, gym equipment and furniture. We’re able to finance assets in almost any industry, so whatever asset you need to move your business forward just contact us and we’ll be happy to help.

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Business Loans

Are business loans hard to get?

The ability to get a loan and the relevant rate depends on your business’ individual trading history as well as the financial history of the proprietor or partners. It may be easier for long-established businesses with a healthy balance sheet to obtain finance than for newer businesses or those who have had financial difficulties. However, Portman can match the requirements of our customers with the lender most likely to offer finance, giving you a greater chance of success.

What can business loans be used for?

Business loans can be used for almost any legitimate business purpose. Our customers use loans to fund premises, to buy stock, to market their business, to cover wages or operational costs or to buy any items they need for their business.

How do I get a business loan?

You can enquire online by using our eligibility checker. Click ‘get started’ at the top of the page and complete your details on the enquiry form. Once you have submitted your details, one of our account managers will contact you to discuss your needs. We do need some business documentation from you but will complete proposals and applications on your behalf.

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Hire Purchase

What happens at the end of a hire purchase agreement? 

At the end of a hire purchase agreement, the borrower has a guaranteed right to purchase the title, i.e. own, the asset for which there may be a nominal administration fee.

What’s the difference between hire purchase and lease finance? 

With a hire purchase agreement, the borrower typically pays the VAT and a deposit upfront. With lease finance there is usually no deposit, and the VAT is spread across each payment. There are different taxable benefits between a hire purchase and a finance lease and your accountant will be able to offer some guidance on which product would be more suitable to your business. With hire purchase, the borrower has a guaranteed right to buy the title of the asset they have financed, which will normally be for a nominal administration fee. At the end of a lease finance agreement, the borrower can give the equipment back, continue leasing the equipment or title to the asset can generally be acquired through a nominated third party.

Powering UK Businesses

Our experts will consider all businesses, all credit histories and all assets.
Find out if we can help today.