Need new equipment to grow, but can’t foot the costs outright? Get what you need now and spread the cost as you stagger your payments over a manageable period of time
Spread the cost of the assets your business needs to grow, including machinery, vehicles and equipment
Does your company already own valuable assets but needs more cash flow? We can refinance your assets to help
Pay your assets off in manageable fixed instalments – we can even factor in seasonal cash flow to make it easy
If you’re looking to know more about Asset Finance, feel free to contact our Business Development Managers on 0203 402 8153. Alternatively, if you have an existing Asset Finance agreement with Metro Bank please contact our Customer Services Team on 0148 344 5544.
If you would like to visit us in store, our team is currently only based in our Guildford store, located at 35-37 North Street, Guildford, Surrey, GU1 4TE.
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Initially, you’ll just pay the agreed deposit – typically 10% + VAT of the asset value. It works a lot like getting a mortgage for a house.
If you already own equipment and/or machinery outright, we may be able to help you unlock the capital tied up in it.
We use a “sale and lease back” structure – you sell us the asset, which gives you a chunk of money to invest in your business. Then you lease the asset back from us so you can continue using it. You might be able to raise up to 75% of the asset value.
|Deposit||Documentation fee||Interest rate||Maximum term|
|10% + VAT||Typically £295||Fixed in advance||5 years|
We’ll set the interest rate in advance, depending on the type of asset and the market conditions. The rate doesn’t change during the term – you know exactly how much you’ll repay.
You pay fixed monthly repayments over the course of the loan. This can be up to 5 years depending on the asset. If you have seasonal cash flow fluctuations, we can often arrange for you to make larger payments when you’re likely to have more ready cash available.
Download our PDF to read when you like - it contains all the ins and outs of our Asset Finance.
You can fund physical business assets like machinery and cars. As rule of thumb, assets must be DIMS: Durable; Identifiable; Moveable; Saleable. We can also fund some ‘soft’ assets like telecoms equipment and computers.
If you want to buy pre-owned assets, we’ll usually have them independently valued before we agree to offer you financing.
We can provide asset finance for many businesses including those operating in:
Bus and coach transport
Classic and prestige cars
If your industry isn't listed here, we still may be able to help you. Get in touch with us to see how.
Your fixed monthly payments cover the money you’re borrowing and 2 other costs:
1. A documentation fee - typically £295. This is a fee charged at the beginning of the facility, to reflect the cost of drawing up the facility documents. It is a variable fee determined on a case by case basis depending on the complexity of the deal.
2. Interest charged at an agreed fixed rate which is added to the principal at the start of the agreement. This rate will vary depending upon market conditions and the specific nature of the asset being acquired. You will pay a fixed monthly instalment for the term of the contract.
That depends on the asset and its useful lifespan. The maximum length of time is 5 years. Whether we provide finance depends on credit checks and approval.
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