Hitachi is an accredited lender for the purposes of the government’s Coronavirus Business Interruption Loan Scheme (CBILS). This means it is able to provide business loans and finance options to those that have been seriously impacted by the crisis.
Founded over 100 years ago, Hitachi is a Japanese company with 11 different business components, including financial services. Its mantra is “Inspire the next”, and it was voted the UK’s Best Direct Loan Provider by Your Money for the past four years.
Hitachi offers several different types of finance to support your business. It’s straightforward to apply via Hitachi’s website.
Hitachi offers different types of financing for your business, including asset, invoice and franchise finance. Whether you’re starting a new business or looking for a boost to the next level, Hitachi offers funding of up to £500,000.
Asset finance. If you’re a small or medium-sized enterprise (SME), asset finance can help you spread the cost of business purchases, such as manufacturing equipment or software.
Invoice finance. When you invoice a customer, Hitachi will be able to pay you a chunk of the money straight away, with the rest of the money being paid to you when the customer pays. This means you won’t be left out of pocket when you are waiting for a customer to pay, although you will have to pay a small charge.
Franchise finance. This funding option from Hitachi allows you to spread the cost of either starting or expanding your franchise.
How does Hitachi compare to other asset finance providers?
Hitachi offers a quick online application form, and says it will give you a decision in minutes.
If you want to apply, simply visit the website and fill in the online application form. You will need to provide both your personal and business details, and more information might be required before a decision.
When applying, it is helpful for you to have the following information close by:
Business name and address registration number
3 sets of accounts filed at Companies House
Frequently asked questions
Hitachi usually asks for a minimum 10% deposit, however the actual deposit amount proposed will depend on your individual circumstances.
To asses your business’s financial situation and whether you can afford the repayments, Hitachi may want to see your latest accounts and bank statements.
Hitachi offers funding of up to 90% of your invoiced amount. This means that if your turnover is £500,000 you could release up to £450,000.
Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
Business loan statisticsBusinesses all over the UK face financial instability daily, which often requires outside funding. We have looked into how the state of borrowing for these businesses differs between the industry, over the years, and for the size of the business.
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