What is an asset finance company?
What is an asset finance company?
Asset Finance Company (AFC) : An AFC is a company which is a financial institution carrying on as its principal business the financing of physical assets supporting productive/economic activity, such as automobiles, tractors, lathe machines, generator sets, earth moving and material handling equipments, moving on own …
What is the name of the trade association that Close Brothers asset finance belongs to?
The Finance & Leasing Association (FLA)
The Finance & Leasing Association (FLA) was formed in 1992, and is the leading trade body for the asset, consumer and motor finance sectors in the UK, and the largest organisation of its kind in Europe.
What is Close Brothers?
Close Brothers is a leading UK merchant banking group providing lending, deposit taking, wealth management services and securities trading. A FTSE250 company, we employ over 3,000 people, principally in the UK, and are listed on the London Stock Exchange.
Are Close Brothers a safe bank?
Close Brothers are authorised and regulated by the Financial Conduct Authority (FCA) and for the purpose of our review, we will be taking a primary focus on Close Brothers Asset Management division and their Self-Directed Services.
What are 4 different finance options for purchasing an asset?
It’s always a good idea to talk to an experienced financial advisor to see which types of asset finance are the best options for you and your company.
- Commercial Hire Purchase.
- Chattel Mortgage.
- Finance Lease.
- Novated Lease.
- Operating Lease.
What are the two main sources of financing?
Two of the main types of finance available are:
- Debt finance – money provided by an external lender, such as a bank, building society or credit union.
- Equity finance – money sourced from within your business.
Where are Close Brothers based?
Close Brothers Group
|London, EC2 United Kingdom
|Mike Biggs (chairman) Adrian Sainsbury (CEO) Mike Morgan (finance director)
|Merchant banking Securities Wealth management
|£866.1 million (2020)
What does Close Brothers Asset Finance do in the UK?
Close Brothers Asset Finance offers a range of flexible funding solutions to UK SMEs, and has been since 1987. Close Brothers are a leading UK merchant banking group providing lending, deposit taking, wealth management services and securities trading. We employ over 3,000 people, principally in the UK, and are listed on the London Stock Exchange.
What can an asset finance company do for You?
What is asset finance? A flexible approach to funding, asset finance gives your business access to the equipment, vehicles, plant and technology it needs to perform and grow, without compromising cash flow. It can be used for both new and second-hand assets, or as a mechanism for releasing the value from those you already own.
What are the terms of an asset finance facility?
Finance terms: Finance terms are up to six years for term loans and asset finance facilities. For overdrafts and invoice finance facilities, terms will be up to three years. Guarantee to the lender: The scheme provides the lender with a government-backed, guarantee against the outstanding facility balance.
Who are close brothers and what do they do?
Close Brothers Asset Finance offers a range of flexible funding solutions to UK SMEs, and has been since 1987. We are a part of Close Brothers Group plc Close Brothers are a leading UK merchant banking group providing lending, deposit taking, wealth management services and securities trading.