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
Spread the cost over time!
Hire Purchase enables businesses to acquire an asset while paying for it in instalments over an agreed timescale – the term. At the end of the term, they have the option to purchase the asset outright.
It lets businesses spread the cost of their investment over the life of the asset, making it easier to budget. Hire Purchase is particularly suitable for acquiring vehicles, machinery, construction and commercial equipment with a resell 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.
When a business needs a cash injection
Refinancing (Capital Release) is a quick way to access the cash from a businesses assets on their existing balance sheet and use that value elsewhere within their business – for example, to fund a deposit on new equipment or ease cash flow.
Sale and HP Back is a form of refinance that can be used against most types of equipment, making it suitable for companies of all sizes, including sole traders. It works by us purchasing the asset and financing it back to the business. Repayments are calculated in line with the income stream that will be generated by the asset and at the end of the refinance term, they own the asset.
This option applies whether they already own the asset or are using it under a finance deal with another provider.
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.
User benefits without the ties of ownership
Our Finance Lease arrangements let a business use the equipment they need without having to buy it outright. It also offers business customers use of an asset of newer, higher specification than they could otherwise purchase.
They pay us rent for the full use of it. The rental period is flexible and can be tailored to their needs and cash flow. During this period, they will pay us the full cost of the asset, including interest.
Then, when you reach the end of the primary lease term they can choose to:
- Continue to use the asset by entering a secondary rental period
- Sell the asset and keep a portion of the income from the sale
- Return it to us
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.
Keep all options open
Similar to a Finance Lease, an Operating Lease allows a business to rent the asset from us while they need it.
The key difference between the two is that an Operating Lease is only for part of the asset’s useful life. This means they pay a reduced rental because the cost is based on the difference between the asset’s original purchase price and its residual value at the end of the agreement.
The business get full use of the asset for as long as they need it, without the burden of responsibility of disposing of it or recouping its residual value.
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.
Acquire stock for your dealership
Stocking is a form of credit used by dealers to help them stock their businesses with assets for resale, for example tractors, machine tools, etc.
Stocking facilities help suppliers avoid having all their cash tied up in stock, which frees up working capital.
How a Stocking Facility works
Retention of title in the assets is key to how Stocking works, and is obtained by assets being purchased either:
- From the manufacturer of the assets by Close Brothers Asset Finance on behalf of the dealer.
- By the dealer acting as the agent for Close Brothers Asset Finance (we provide the dealer with authority to acquire stock on our behalf).
In both cases, the assets are owned by Close Brothers Asset Finance.
Why use a Stocking Facility
Stocking is aimed at dealers wanting to acquire stock for their business but without the capital outlay.
Benefits
- 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 Spread the cost over time! Hire Purchase enables businesses to acquire an asset while paying for it in instalments over an agreed timescale – the term. At the end of the term, they have the option to purchase the asset outright.
It lets businesses spread the cost of their investment over the life of the asset, making it easier to budget. Hire Purchase is particularly suitable for acquiring vehicles, machinery, construction and commercial equipment with a resell 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 When a business needs a cash injection Refinancing (Capital Release) is a quick way to access the cash from a businesses assets on their existing balance sheet and use that value elsewhere within their business – for example, to fund a deposit on new equipment or ease cash flow.
Sale and HP Back is a form of refinance that can be used against most types of equipment, making it suitable for companies of all sizes, including sole traders. It works by us purchasing the asset and financing it back to the business. Repayments are calculated in line with the income stream that will be generated by the asset and at the end of the refinance term, they own the asset.
This option applies whether they already own the asset or are using it under a finance deal with another provider.
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 User benefits without the ties of ownership Our Finance Lease arrangements let a business use the equipment they need without having to buy it outright. It also offers business customers use of an asset of newer, higher specification than they could otherwise purchase.
They pay us rent for the full use of it. The rental period is flexible and can be tailored to their needs and cash flow. During this period, they will pay us the full cost of the asset, including interest.
Then, when you reach the end of the primary lease term they can choose to:
- Continue to use the asset by entering a secondary rental period
- Sell the asset and keep a portion of the income from the sale
- Return it to us
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 Keep all options open Similar to a Finance Lease, an Operating Lease allows a business to rent the asset from us while they need it.
The key difference between the two is that an Operating Lease is only for part of the asset’s useful life. This means they pay a reduced rental because the cost is based on the difference between the asset’s original purchase price and its residual value at the end of the agreement.
The business get full use of the asset for as long as they need it, without the burden of responsibility of disposing of it or recouping its residual value.
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 Acquire stock for your dealership Stocking is a form of credit used by dealers to help them stock their businesses with assets for resale, for example tractors, machine tools, etc.
Stocking facilities help suppliers avoid having all their cash tied up in stock, which frees up working capital.
How a Stocking Facility works
Retention of title in the assets is key to how Stocking works, and is obtained by assets being purchased either:
- From the manufacturer of the assets by Close Brothers Asset Finance on behalf of the dealer.
- By the dealer acting as the agent for Close Brothers Asset Finance (we provide the dealer with authority to acquire stock on our behalf).
In both cases, the assets are owned by Close Brothers Asset Finance.
Why use a Stocking Facility
Stocking is aimed at dealers wanting to acquire stock for their business but without the capital outlay.
Benefits - 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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