Genesis Asset Finance

Genesis Asset Finance

Genesis Asset Finance

A family run funder providing Hire Purchase, Lease and Refinance facilities to small businesses across England and Wales.

Genesis can provide your business with the finance required to enable the business to obtain the extra equipment it needs (whether the equipment is new or used). The principle benefit of financing your business’ asset needs this way is that cash is retained in the business for working capital over the bulk of the asset’s working life.

Whilst each finance request is unique, the vast majority can be financed in one of two ways. Which way (and therefore which Finance Product is appropriate for your business’ needs) will depend on several factors, but all of our solutions are tailored to your specific business requirements and are flexible to suit the particular needs of your business’ financial situation, regardless of the Finance Product chosen.

The two core ways of financing are:-

Hire-Purchase

A Hire-Purchase solution allows your business to acquire the assets it needs without the financial burden of an outright purchase. You select the equipment and supplier you want, and we agree a repayment plan for the asset. The asset is delivered direct to your business. At the end of the repayment period, should you choose to, you can exercise the option to purchase your asset for a nominal fee. Capital Allowances are claimable by your business and the VAT element of the purchase price of any asset financed can be reclaimed by your business.

Lease

Leasing is a highly efficient method of financing equipment. In some respects it is similar to Hire-Purchase as rentals are spread across the duration of the agreement. Unlike Hire-Purchase, VAT is payable on every rental but the rentals payable are up to 100% tax allowable in line with HMRC regulations,  providing an additional benefit to your business. Importantly, at the end of a Lease agreement your business does not own the asset. As a general rule, for assets financed via Leasing, Capital Allowances are not available to your business. At the end of the Lease the business can enter into a secondary rental period for a nominal annual rental or alternatively the asset can be sold and your business can benefit from receiving a high percentage of the net sale proceeds.

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