Finance

Finance the equipment that moves your business forward.

Asset finance can help a business acquire vehicles, machinery, technology or other essential equipment while spreading the cost.

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Tera is a credit broker, not a lender. Any finance is subject to status and the terms of the finance provider.

Overview

Asset finance allows a business to use essential equipment while spreading the cost over an agreed period. Ownership structure varies by product type.

How it works

The finance is typically secured against the asset being financed. You make regular payments over the term, with ownership transferring at the end in some structures.

Common uses

Manufacturing machinery
Commercial vehicles
Kitchen and catering equipment
Construction equipment
Medical equipment
Technology and office equipment

Benefits

Preserves working capital
Payments may align with asset use
Fixed monthly costs can aid budgeting

Considerations

Ownership structure varies by product
A deposit may be required
The asset may provide security
Missed repayments may place the asset at risk
Terms depend on the provider and applicant

Information required

Equipment details and supplier quotation
Deposit available
Business trading history
Preferred repayment period

Who may consider

Businesses investing in equipment
Companies replacing ageing assets
Businesses wanting to preserve cash reserves

The process

1.Share equipment requirements through Tera's assessment
2.Provide supplier details and business information
3.Review suitable asset finance structures
4.Complete the provider's application process

Example: production line upgrade

A food manufacturer may use hire purchase to fund a new production line, making fixed payments while the equipment generates revenue.

This is an illustrative example only. Suitability depends on individual circumstances.

Asset finance FAQs

Ready to understand your funding options?

Start with a short assessment and tell us what your business is planning next.