Hitachi business finance review

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.

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Hitachi business finance options

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?

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Name	Product	Asset finance options	Asset finance amounts	Asset finance terms
Bibby Financial Services Asset Finance		Leasing Hire Purchase Refinancing	£25,000 to £1,500,000	2 - 5 years	Bibby can offer you lower initial payments as well as payment holidays to help you business during quieter periods when your equipment is not earning.	More Info		loading Fetching your data...
Arkle Finance Asset Finance		Fixed Term Rental Finance Lease Hire Purchase Marine Mortgage Loan & Chattel Mortgage	£5,000 to £500,000	1-7 years	Arkle Finance allows you to adjust your repayments in line with your seasonal income.	More Info		loading Fetching your data...
Funding Circle Asset Finance		Hire Purchase Hire	£10,000 to £250,000	6 months to 5 years	Get quotes More Info		loading Fetching your data...

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Compare invoice finance from lenders like Hitachi

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Name	Product	Maximum percentage of invoice	Invoice terms	Turnover/trading criteria
Bibby Financial Services Invoice Finance		100%	From 30 days to 90 days	No specified minimum turnover, minimum 6 months trading	Release up to 100% of the capital in invoices within 24 hours of raising them. Manage your own credit control and sales ledger or let Bibby do it for you.	Get quotes More Info		loading Fetching your data...
Penny Freedom Finder Award		100%	From 10 days to 90 days	No minimum turnover, no specified minimum time trading	Unlock up to 100% of the capital in invoices, minus administration fee, within 24 hours.	Get quotes		loading Fetching your data...
Clear Factor		90%	From 15 days to 90 days	No minimum turnover, minimum 6 months trading	Release cash trapped in outstanding invoices (invoices between £100-£10,000) within 24 hours. No Debentures or Personal Guarantees.	Get quotes		loading Fetching your data...
MarketFinance Invoice Finance		90%	From 30 days	£100,000 minimum turnover, minimum 1 year trading	Choose specific invoices to sell or leverage your entire sales ledger. Receive up to 90% of your invoice within 24 hours then the remainder, minus fees, when your customer pays.	More Info		loading Fetching your data...

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How can I apply?

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
• Director guarantees

Frequently asked questions

Asset finance

• How much deposit would I need?

  Hitachi usually asks for a minimum 10% deposit, however the actual deposit amount proposed will depend on your individual circumstances.

• What sort of financial information would I need to provide?

  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.

Invoice finance

• How much money can I borrow?

  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.