Asset finance involves either funding the purchase of a new asset e.g. vehicles or machinery or it can also include raising working capital by refinancing against your existing asset (using your assets as security).
Refinancing assets is emerging as a popular option for small businesses who would not qualify for unsecured loans. Banks may also ask for exorbitant security for their business loans, thus locking out the new entrepreneur seeking a small cash infusion to expand their production and marketing.
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It is one of the dreaded things in business, when assets depreciates.
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