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Business Finance

Equipment refinance

Unlock capital tied up in machinery, vehicles and other business assets. Equipment refinance can help release working capital while allowing your business to continue using the assets it depends on.

Finance at a glance

Key details to help you understand this finance option at a glance.

Purpose

Release capital from eligible business assets

Finance amount

Subject to asset value, lender criteria and business circumstances

Finance term

Flexible terms depending on the asset and finance provider

Suitable for

Businesses that own valuable equipment, machinery or vehicles and want to improve liquidity

Key note

Availability depends on the asset’s age, condition, value, existing finance and lender criteria.

What is equipment refinance?

Equipment refinance allows a business to raise finance against machinery, vehicles or other assets it already owns. Rather than selling an essential asset to generate cash, an eligible asset may be refinanced so the business can release some of the value tied up in it while continuing to use it. Depending on the circumstances, refinancing may also be considered for recently purchased assets or equipment approaching the end of an existing finance arrangement. The structure and amount available will depend on the asset and the lender’s criteria.

How does equipment refinance work?

Equipment refinance starts by understanding the assets your business owns and the reason additional capital is required.

Identify eligible assets

Review machinery, vehicles or equipment that the business owns or has recently purchased.

Assess your requirements

Consider how much funding is required and how the released capital will support the business.

Explore refinance options

Suitable lenders and finance structures can be considered based on asset value and business circumstances.

Complete the finance

Subject to valuation, underwriting and approval, the refinance facility can be completed and funds released.

What can equipment refinance be used for?

Capital released through equipment refinance can support a range of legitimate business requirements.

Working capital

Release cash tied up in assets to support day-to-day business operations.

Business expansion

Provide additional capital for growth, new locations or increased capacity.

New equipment

Use released capital to help fund additional machinery or technology.

Cash flow management

Improve liquidity when capital is concentrated in business assets.

Benefits of equipment refinance

Refinancing existing assets can provide an alternative way to raise business capital.

Unlock existing value

Access some of the value already held within eligible business assets.

Keep using your equipment

The business may continue operating with the assets while they form part of the finance arrangement.

Support cash flow

Convert asset value into working capital without necessarily disposing of essential equipment.

Flexible business use

Released funds may support a variety of legitimate business purposes, subject to the finance agreement.

Is equipment refinance right for your business?

Equipment refinance may suit established businesses that own assets with sufficient value and want to release capital.

Asset-heavy businesses

Companies with significant value invested in machinery, vehicles or specialist equipment.

Growing businesses

Businesses seeking capital to support expansion without immediately selling essential assets.

Businesses managing cash flow

Companies looking to strengthen liquidity using assets already held within the business.

The Somerset process

A straightforward, supportive process from initial discussion to completion.

01

Understand

We take time to understand your business, your goals and your finance requirements.

02

Explore

We assess your requirements and explore suitable finance options from available lenders.

03

Apply

We support you through the application process and liaise with the lender as required.

04

Complete

Once the finance is approved and completed, you can move forward with your business plans.

Why Somerset Financial?

Straightforward support to help you explore suitable business finance options for your circumstances.

Finance options explored

We help you explore finance options based on your business requirements and circumstances.

A personal approach

We take time to understand your business, objectives and funding requirements before exploring suitable options.

Tailored to your business

Finance requirements vary from business to business, so we focus on options relevant to your individual circumstances.

Clear guidance

We explain the available options and process clearly, helping you make an informed decision.

Support through the process

We support you through the application process and liaise with the finance provider where required.

Focused on your objectives

Whether you are investing, replacing equipment or managing cash flow, we focus on finance options aligned with your business objectives.