Asset finance guide
Asset finance for engineering firms
Engineering businesses often need expensive equipment before the extra revenue has arrived. Asset finance may help spread the cost of machinery, tooling and production assets.
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Assets commonly reviewed
Engineering firms may look at finance for CNC machines, fabrication equipment, compressors, tooling, vehicles, lifting equipment, inspection equipment or technology used in production.
Lenders may review the asset type, supplier, cost, deposit, VAT position, age, condition, resale value and how the asset supports trading.
Business evidence
Useful business details include recent accounts, bank statements, management figures, order book, customer contracts and an explanation of how the asset will be used.
If the asset is specialist, imported or used, extra detail can help the lender understand value and risk.
When asset finance may not be enough
If the business also needs working capital for materials, payroll or tax, a business loan or invoice finance route can be reviewed at the same time so the asset purchase does not drain cash.
How Jolt makes the next step easier
You do not need to know the perfect lender at the first step. Jolt looks at the funding purpose, timing, documents and likely route, then helps shape the enquiry around lender appetite.
Start with the amount, what the money is for and how quickly it is needed. If the route is not obvious, the enquiry can still be reviewed without turning this page into another form.
Asset finance for engineering firms FAQs
Can used engineering equipment be financed?
It may be possible, but lender appetite depends on age, condition, supplier, valuation and resale market.
Is a deposit needed?
A deposit may be needed depending on the asset, lender, business profile and deal structure.
Can VAT be included?
VAT treatment depends on the facility and business position. Some businesses need to plan for VAT cash flow separately.
What helps the application?
A clear quote, asset details, supplier information, accounts, bank statements and expected business benefit can help.