Praetura Asset Finance
Praetura Asset Finance allows businesses to spread the cost of essential machinery, or simply release cash to grow, with asset finance of up to £2 million.
Praetura Asset Finance is a direct lender, not a broker. It is authorised and regulated by the Financial Conduct Authority (FCA).
In 2013, Praetura Asset Finance became the first independently-owned asset finance company to enter the UK marketplace in 15 years. Its aim was to make funding more accessible for SMEs, which often struggle to get credit from mainstream banks.
Praetura Asset Finance offers funding based on the current value of a business’s unencumbered assets, with less focus on liquidity and profit margins.
Whether you’re looking to fund new vehicles or machinery, enable expansion plans, consolidate debts or provide an injection of working capital, Praetura Asset Finance could help. It’s quick and straightforward to apply at the Praetura Asset Finance website.
What is asset finance?
With asset finance, you pay a regular amount to use an essential asset for your business over an agreed period. This frees up cash because you’re not having to fund it outright.
Most commonly, asset finance is about getting newer, better equipment for your team, but it can also provide a boost to working capital by unlocking the equity tied up in existing assets.
Compare asset finance
Praetura Asset Finance options
Praetura Asset Finance offers three types of asset finance to suit the individual needs of your business:
- Hire Purchase. Hire Purchase allows you to replace old or outdated equipment, expand your product offering with new machinery, or update your business vehicles without a large upfront payment. You retain the rights of ownership, with the cost spread over monthly payments for an agreed term. Hire Purchase can be tax-efficient, with interest and charges offsetable against pre-tax profits. Flexible deposit options and seasonal payment plans are available.
- Finance Leasing. Hiring essential equipment through a Finance Lease allows you to use new machinery or transport and pay for it with a monthly payment plan. At the end of the payment plan you could continue to use the asset with reduced annual payments, return it to Praetura or sell it to a (neutral) third party for a fair market value and receive a portion of the profits.
- Refinance. You could raise funds for your business by unlocking capital from your machinery, equipment or vehicles. This option doesn’t restrict whether you can continue to use the asset. Refinancing could help you to develop new markets, expand or restructure your business or upgrade your premises, machinery, equipment and vehicles.
Key features of Praetura Asset Finance
The interest rate you’re offered will depend on factors like the assets you want to finance, the term of the loan, the performance of your business and its credit rating. You will be given a personalised interest rate which may differ from any advertised “representative APR”.
Am I eligible for Praetura Asset Finance?
You should only apply for asset finance if you’re certain you can meet the repayment terms. You must also:
- Be aged 18 or over
- Require the asset for business use
- Be a limited company, sole trader, partnership, PLC or public body
How can I apply?
You can either call Praetura Asset Finance or use the contact page on its website to request a callback. An asset finance specialist will get to know your business and talk you through the options available to you.
Frequently asked questions
Read more on this topic
Business loans in lockdown and beyond: How SMEs are funding their future Download Finder's free report on how the business loans landscape has been evolving during lockdown, featuring expert commentary and new research on consumer spending intentions as the UK economy reopens.
Metro Bank joins Bounce Back Loan Scheme The high-street bank becomes the 18th accredited lender under the government's small business loan scheme.
Three more lenders join the Bounce Back Loans Scheme Allied Irish Bank, The Co-operative Bank and Starling Bank have all been accredited under the British Business Bank's new Bounce Back Loan Scheme.
Nine new lenders approved for the Coronavirus Business Interruption Loan Scheme (CBILS) Assetz Capital, White Oak UK, Atom Bank, Ebury and Fleximize are among the latest lenders to be approved to provide financial support under the new scheme.
Coronavirus Business Interruption Loan Scheme Learn how the government's new coronavirus loan scheme works, how much you can borrow and how your business can apply.
Coronavirus Bounce Back Loan Scheme Find out how the UK government's Bounce Back Loan Scheme works, how much your business can borrow and how to apply here.
Starling Bank business loans review July 2020 The digital-only Starling Bank now offers business loans up to £250,000 and is part of the Coronavirus Business Interruption Loan Scheme.
Challenger banks called to help with coronavirus business loans Three top digital banks have been given the green light by the British Business Bank to help support small businesses during the COVID-19 pandemic in the UK.
Loans for small businesses affected by coronavirus Learn about government support and alternative options for businesses needing finance to help deal with the impact of coronavirus.
Tax implications of business loans Find out if a business loan is considered income and what you can claim as a tax deduction when taking out a loan.