How does equipment refinancing work?
If you have recently bought a high-value item outright but would prefer to have financed it, we can help. Send your invoice to Portman and, subject to checks, we can usually facilitate a full invoice value payment to you. You’ll then make fixed monthly payments including interest under a sale and lease-back or HP-back agreement, whilst you retain full use of the asset.
If your asset was purchased more than 3m ago, we can look to release cash through refinance. As long as the asset has value and is owned by you, we can arrange an agreement where the asset is used as security for a loan. The funder will arrive at a valuation of your asset(s) and will typically lend up to an agreed percentage of that valuation. This is also well-suited to items coming to the end of an existing finance deal where a final balloon payment is required.
Which assets can I refinance?
Equipment refinance is most common for ‘hard assets’, largely machinery and plant or vehicles as these items have a higher long term value. The higher the value of the asset, the more money can be released to you. There will typically be a cut-off on asset age with our funders, however as long as your asset value exceeds the loan amount you are looking for, we are happy to try and assist you.
Why Portman Financial Services?
Portman Financial Services is focused on serving the needs of sole traders and small partnerships. This dedicated business is part of the Portman Finance Group, which can draw on over 15 years experience securing funds for over 12,000 UK SMEs, raising £1bn in funding. Whatever industry you are in and whatever funding you are looking for our experts can help.
- We can help with finance for most types of assets and purposes
- We take time to understand your business and secure funding that best meets your goals
- We will do our best to help even if you don’t have a strong credit history
- You will have one point of contact from start to end
- If you need funds quickly, we can sometimes release funds within hours
A very straight forward, and super speedy, service. We were assigned to Andrew and he really could not have be more professional and helpful. He took time to understand what we were looking for and based on that came up with the best possible route. Highly recommend!!Lottie Elmehagen
Worked hard to find the right deal
Rob worked hard to find the right product for me and get everything in place. He gave some good advice with regards to the products on the market. Very happy with the service and the regular updates.Tony Lewis
Simple process with quick turnaround
Portman, and Jack in particular, were easy to deal with and helped with some medium term funding requirements. The whole process was fairly straightforward and needed little work on our part. Definitely recommend.Mel Wright
Excellent service from Portman
I have used Portman Asset Finance before and I was pleased with the service I received the first time. When I contact them this time I spoke to Daniel Cooper who was really helpful and kept to his word and promises. I can not fault the service I received and I would highly recommend them. Much better than HSBC who I bank with.Ross Wilkins