Finance For Industry is a leading specialist in finance for engineering, plastics and machinery that offers a range of bespoke finance options for your business.
We offer a local and personal service through a team of experienced finance professionals located throughout the country and supported by sales and customer service functions, based at our office in Chester.
We pride ourselves on building strong, long-term customer relationships along with employing the latest technology to deliver a rapid and reliable service.
Since commencing our broker business in 2006, we have now written over 5,500 deals, with advances of £500m. Our strength is our flexibility and diversity, with no great reliance on any one funder, enabling us to negotiate the best deal for our customers.
Our finance products
What is Hire Purchase?
How Hire Purchase works
Hire Purchase is a great way to get what you need because you get to choose, use and manage the assets you need for your business over an agreed period, typically up to five years.
The regular instalments you pay as part of your agreement will cover:
- The asset's depreciation
- Interest on the cost of the asset
At the end of the term, you get to choose to buy the asset and own it outright.
Who is Hire Purchase for?
Hire Purchase is especially handy for:
- Businesses who want to keep control of their cash flow by knowing what their investments are going to cost them over the long-term, allowing them to budget effectively
- Purchasing ‘hard’ assets like vehicles, machinery, equipment and other assets with resale value
Advantages of Hire Purchase:
- More time to repay: By spreading the cost over the life of the asset, a benefit is that you can lower the initial up-front payment. This matters because it gives you a long-term view of the fixed monthly payments you will need to make over the term of the agreement, which – in turn- helps you with your budgeting
- Seasonality: If your business – like many others – has busy times and less busy times throughout the year, your monthly repayments can be adjusted in line with your sales peaks and troughs. For example, during the lead into the festive season your sales volumes might peak, but in the month or two after New Year, they fall back
- Keep control: With Hire Purchase, you're in charge. You get full use of the asset throughout the repayment period and may even claim capital allowance. Capital allowance is a type of tax relief that businesses can claim when they spend money on long-term assets for use in the business. You can deduct some or all of the value of the asset from your taxable profit
- Tax efficient: Financing your asset purchase through Hire Purchase can be tax-friendly because lease payments are treated as expenses, offering potential tax benefits compared to standard loans. Although asset depreciation also provides tax benefits, the useable lifetime of the asset will vary depending on the asset and on local regulation
- Reclaim VAT: If you're VAT registered, you may reclaim VAT. For details on VAT registration, visit gov.uk/vat-registration/overview
Finance is secured against the asset and/or equipment. If you're unable to keep up with your payments we may repossess the asset and/or equipment.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
What is Refinance?
How Refinance works
Refinancing uses the value of assets you already own to help your business. With Sale and HP Back – a type of refinancing – you sell your equipment to us, and we lend you the money you need to invest in your business.
You pay us back in line with what the equipment earns for you. Once you’re done paying us back, you own the equipment again.
This works whether you own the equipment outright or are already financing it with someone else.
Who is Refinancing for?
Refinancing is for anyone looking to unlock the value of their existing assets to support their business. Whether you own equipment outright or are financing it elsewhere, refinancing can provide a quick way to access funds for things like new equipment, improving cash flow, or other business needs.
It’s a flexible option suitable for businesses of all sizes, including sole traders.
Advantages of Refinance:
- Get more cash easily: Asset refinancing is a quick and simple way to get extra money for your business needs. You get to keep using the asset you put up as security.
- Pay over a longer time: We can take over your current financing deal with another company and extend the time you have to pay. The costs are fixed, so there won't be any surprises while you're repaying the loan.
- Choose what's best for you: Use the cash injection for your business or buy other things you need. It's more flexible than some other financing options.
- Decide quickly: Getting cash from your assets helps you make faster decisions when dealing with business contracts. Use the money for hiring people, buying new things, or expanding your workspace.
Finance is secured against the asset and/or equipment. If you're unable to keep up with your payments we may repossess the asset and/or equipment.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
What is Finance Lease?
How Finance Lease works
Think of Finance Lease as a long-term rental for business assets (or equipment, which is the same thing). Instead of buying the asset upfront, you pay rent to use it, with a flexible rental period to match your needs and cash flow fluctuations, which we know can change month-to-month. You cover the cost of the payments, including the agreed interest, for the duration of the rental period.
At the end of the initial lease, you have various options available to you:
- Keep on using: Continue leasing the asset by extending the rental period – otherwise known as a ‘secondary rental period’
- Sell and earn: You can sell the equipment and keep a share of what the asset is sold for
- Return: Give the equipment back to us if you no longer need it or want to upgrade to something newer
Who is Finance Lease for?
Finance lease is for businesses that need equipment but prefer not to purchase it outright. It's suitable for companies looking to use assets like machinery, vehicles, or technology without a large upfront cost. Whether you're a small construction firm needing a forklift or a larger operation needing specialist equipment, finance lease offers flexibility by allowing you to pay for the equipment over time while having the option to keep, sell, or return it at the end of the lease term.
Advantages of Finance Lease:
- Get what you need without a big upfront cost: You can quickly get the equipment you want without paying a large sum upfront. Instead, payments are broken into monthly instalments.
- Customise payments to match your cash flow: Work with us to adjust the rental payments and lease periods to match how and when money comes into your business.
- Earn money back: If you decide to sell the equipment at the end of the lease, you will get money from the sale.
- Tax Benefits: If your business is VAT registered, you only pay VAT on the monthly rental payments, not on the entire purchase price. This helps reduce your taxable profit, potentially saving you money on taxes. If your business is not VAT registered, you can spread the VAT cost by including it in your monthly rental rather than paying it as a one-off payment.
- For more information on VAT registration, please visit gov.uk/vat-registration/overview
Finance is secured against the asset and/or equipment. If you're unable to keep up with your payments we may repossess the asset and/or equipment.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
What is Operating Lease?
How Operating Lease works
In common with Finance Lease, an Operating Lease lets you rent the asset from us for the duration you require it.
The main difference lies in the fact that an Operating Lease covers only a portion of the asset's total useful life meaning you pay a lower rental fee because it's calculated based on the difference between the asset's initial purchase cost and its residual value at the agreement's end.
You enjoy complete access to the asset for your required duration, without the obligation of managing its disposal or recovering its residual value.
Who is Operating Lease for?
Operating Lease is suitable for businesses that need equipment but prefer not to purchase it outright. It means you can use equipment, vehicles, or technology without a large upfront cost while paying a lower monthly rental fee.
Advantages of Operating Lease:
- Affordable start: Get the asset you need without a big upfront cost
- Complete usage freedom: Use the asset fully without buying it outright
- Flexible choices: Decide at the end of the term whether to re-rent, buy, or return the asset
- Lower payments: Rental cost is less because it's a percentage of the initial cost
- Cost savings: Reclaim VAT on rentals to reduce overall costs
Finance is secured against the asset and/or equipment. If you're unable to keep up with your payments we may repossess the asset and/or equipment.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
What is Stocking Finance?
Stocking Finance helps to unlock the value held in stock. This solution is designed for suppliers and dealers who want to obtain stock for their business without the initial investment costs.
Stocking Finance bridges the gap between purchasing stock and holding it before it’s sold. It avoids having cash tied up in stock, freeing up working capital and helping to improve cash flow to fund new opportunities or business growth.
Benefits of Stocking Finance
- Enhanced stock control
- Fast and secure decision making
- Faster payments
- Improved cash flow
- Dealers can control their stock using an online portal, including financing and invoicing.
- Once the asset has been sold, Close Brothers Asset Finance can provide finance to a dealer’s customers.
- Facilities are designed to grow along with the dealer’s stock requirements.
- Full management of stock inventory by Close Brothers Asset Finance on a regular basis.
Our Stocking Facility offering:
- Seasonal payment schedules.
- Short or long-term finance options.
- Tailored terms based on the strength of the business and depreciation profile of the assets.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
Hire Purchase What is Hire Purchase?
How Hire Purchase works
Hire Purchase is a great way to get what you need because you get to choose, use and manage the assets you need for your business over an agreed period, typically up to five years.
The regular instalments you pay as part of your agreement will cover:
- The asset's depreciation
- Interest on the cost of the asset
At the end of the term, you get to choose to buy the asset and own it outright.
Who is Hire Purchase for?
Hire Purchase is especially handy for:
- Businesses who want to keep control of their cash flow by knowing what their investments are going to cost them over the long-term, allowing them to budget effectively
- Purchasing ‘hard’ assets like vehicles, machinery, equipment and other assets with resale value
Advantages of Hire Purchase:
- More time to repay: By spreading the cost over the life of the asset, a benefit is that you can lower the initial up-front payment. This matters because it gives you a long-term view of the fixed monthly payments you will need to make over the term of the agreement, which – in turn- helps you with your budgeting
- Seasonality: If your business – like many others – has busy times and less busy times throughout the year, your monthly repayments can be adjusted in line with your sales peaks and troughs. For example, during the lead into the festive season your sales volumes might peak, but in the month or two after New Year, they fall back
- Keep control: With Hire Purchase, you're in charge. You get full use of the asset throughout the repayment period and may even claim capital allowance. Capital allowance is a type of tax relief that businesses can claim when they spend money on long-term assets for use in the business. You can deduct some or all of the value of the asset from your taxable profit
- Tax efficient: Financing your asset purchase through Hire Purchase can be tax-friendly because lease payments are treated as expenses, offering potential tax benefits compared to standard loans. Although asset depreciation also provides tax benefits, the useable lifetime of the asset will vary depending on the asset and on local regulation
- Reclaim VAT: If you're VAT registered, you may reclaim VAT. For details on VAT registration, visit gov.uk/vat-registration/overview
Finance is secured against the asset and/or equipment. If you're unable to keep up with your payments we may repossess the asset and/or equipment.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
Refinance / Capital Release What is Refinance?
How Refinance works
Refinancing uses the value of assets you already own to help your business. With Sale and HP Back – a type of refinancing – you sell your equipment to us, and we lend you the money you need to invest in your business.
You pay us back in line with what the equipment earns for you. Once you’re done paying us back, you own the equipment again.
This works whether you own the equipment outright or are already financing it with someone else.
Who is Refinancing for?
Refinancing is for anyone looking to unlock the value of their existing assets to support their business. Whether you own equipment outright or are financing it elsewhere, refinancing can provide a quick way to access funds for things like new equipment, improving cash flow, or other business needs.
It’s a flexible option suitable for businesses of all sizes, including sole traders.
Advantages of Refinance:
- Get more cash easily: Asset refinancing is a quick and simple way to get extra money for your business needs. You get to keep using the asset you put up as security.
- Pay over a longer time: We can take over your current financing deal with another company and extend the time you have to pay. The costs are fixed, so there won't be any surprises while you're repaying the loan.
- Choose what's best for you: Use the cash injection for your business or buy other things you need. It's more flexible than some other financing options.
- Decide quickly: Getting cash from your assets helps you make faster decisions when dealing with business contracts. Use the money for hiring people, buying new things, or expanding your workspace.
Finance is secured against the asset and/or equipment. If you're unable to keep up with your payments we may repossess the asset and/or equipment.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
Finance Lease What is Finance Lease?
How Finance Lease works
Think of Finance Lease as a long-term rental for business assets (or equipment, which is the same thing). Instead of buying the asset upfront, you pay rent to use it, with a flexible rental period to match your needs and cash flow fluctuations, which we know can change month-to-month. You cover the cost of the payments, including the agreed interest, for the duration of the rental period.
At the end of the initial lease, you have various options available to you:
- Keep on using: Continue leasing the asset by extending the rental period – otherwise known as a ‘secondary rental period’
- Sell and earn: You can sell the equipment and keep a share of what the asset is sold for
- Return: Give the equipment back to us if you no longer need it or want to upgrade to something newer
Who is Finance Lease for?
Finance lease is for businesses that need equipment but prefer not to purchase it outright. It's suitable for companies looking to use assets like machinery, vehicles, or technology without a large upfront cost. Whether you're a small construction firm needing a forklift or a larger operation needing specialist equipment, finance lease offers flexibility by allowing you to pay for the equipment over time while having the option to keep, sell, or return it at the end of the lease term.
Advantages of Finance Lease:
- Get what you need without a big upfront cost: You can quickly get the equipment you want without paying a large sum upfront. Instead, payments are broken into monthly instalments.
- Customise payments to match your cash flow: Work with us to adjust the rental payments and lease periods to match how and when money comes into your business.
- Earn money back: If you decide to sell the equipment at the end of the lease, you will get money from the sale.
- Tax Benefits: If your business is VAT registered, you only pay VAT on the monthly rental payments, not on the entire purchase price. This helps reduce your taxable profit, potentially saving you money on taxes. If your business is not VAT registered, you can spread the VAT cost by including it in your monthly rental rather than paying it as a one-off payment.
- For more information on VAT registration, please visit gov.uk/vat-registration/overview
Finance is secured against the asset and/or equipment. If you're unable to keep up with your payments we may repossess the asset and/or equipment.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
Operating Lease What is Operating Lease?
How Operating Lease works
In common with Finance Lease, an Operating Lease lets you rent the asset from us for the duration you require it.
The main difference lies in the fact that an Operating Lease covers only a portion of the asset's total useful life meaning you pay a lower rental fee because it's calculated based on the difference between the asset's initial purchase cost and its residual value at the agreement's end.
You enjoy complete access to the asset for your required duration, without the obligation of managing its disposal or recovering its residual value.
Who is Operating Lease for?
Operating Lease is suitable for businesses that need equipment but prefer not to purchase it outright. It means you can use equipment, vehicles, or technology without a large upfront cost while paying a lower monthly rental fee.
Advantages of Operating Lease:
- Affordable start: Get the asset you need without a big upfront cost
- Complete usage freedom: Use the asset fully without buying it outright
- Flexible choices: Decide at the end of the term whether to re-rent, buy, or return the asset
- Lower payments: Rental cost is less because it's a percentage of the initial cost
- Cost savings: Reclaim VAT on rentals to reduce overall costs
Finance is secured against the asset and/or equipment. If you're unable to keep up with your payments we may repossess the asset and/or equipment.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
Stocking Facility What is Stocking Finance?
Stocking Finance helps to unlock the value held in stock. This solution is designed for suppliers and dealers who want to obtain stock for their business without the initial investment costs.
Stocking Finance bridges the gap between purchasing stock and holding it before it’s sold. It avoids having cash tied up in stock, freeing up working capital and helping to improve cash flow to fund new opportunities or business growth.
Benefits of Stocking Finance
- Enhanced stock control
- Fast and secure decision making
- Faster payments
- Improved cash flow
- Dealers can control their stock using an online portal, including financing and invoicing.
- Once the asset has been sold, Close Brothers Asset Finance can provide finance to a dealer’s customers.
- Facilities are designed to grow along with the dealer’s stock requirements.
- Full management of stock inventory by Close Brothers Asset Finance on a regular basis.
Our Stocking Facility offering:
- Seasonal payment schedules.
- Short or long-term finance options.
- Tailored terms based on the strength of the business and depreciation profile of the assets.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
Machinery Protection
Protect your business against unforeseen, costly breakdowns with Mechanical and Electrical Breakdown Protection. Terms and Conditions apply and cover is subject to exclusions and limitations.
- Mechanical and electrical breakdown - Following expiry of the manufacturer's or supplier's initial warranty period, cover is provided for the full repair cost (including parts and labour) resulting from a mechanical, electrical or electronic breakdown.
- Accidental and malicious damage - From the time the equipment is commissioned at your premises, insurance is provided against accidental damage to the equipment. This includes damage caused as a result of operator error.
- Repair or replacement and expediting Costs - Cover is provided against either the restoration of the equipment to normal working condition or, in the event of total loss, the cost of replacement as new.
- Transfer of Cover - Subject to prior agreement of the insurer the insurance cover may be transferred to the new owners of the equipment.
- Cost - Unlike the majority of insurances, the cost of your cover may be fixed, and is available for a period of up to seven years. If you make monthly premium payments cover will operate on a rolling monthly basis.
- Excess - All claims are subject to a nominal excess.
Finance For Industry Services Limited is an appointed representative of Energy Insurance Services Limited for the sale of insurance products. Energy Insurance Services Limited (FRN 310297) is authorised and regulated by the Financial Conduct Authority.
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