Are you looking for a trustable asset-based finance company that lets you quickly access money without going through the lengthy and wasting application process?
If the answer is yes, then you are in the right place.
Asset-based funding, one of the best alternatives to bank loans, can be a great way to launch and grow your ecommerce company with little to no money and without taking any risk.
However, the advantages and disadvantages of the conditions you can get vary from one company to another, just like with any range of options.
And to save you time, in today’s article, we’ll list the top 7 asset-based finance companies that can help you create a stable and continuous cash cycle for your business.
But first, let’s quickly review what asset-based financing is before we move on.
1. Myos
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Myos is an asset-based company that offers merchants an entirely new way to quickly and effectively finance working capital through artificial intelligence (AI), data (data-driven), and a complete lack of annuities and personal guarantees.
Myos’s funding concept originated from the needs of online retailers for working capital and their subsequent frustration with the available financing options.
Instead of analyzing the products and their potential for profit, most banks and fintech evaluate using traditional risk metrics.
With Myos, on the other hand, you can place more product orders, introduce new ones, or spend money on marketing without personal risk (products serve as collateral).
Furthermore, you can purchase finance, stock finance, or cross-finance with a flexible repayment schedule within 24 months.
For instance, if you decide after a week that you no longer require the funds, you can pay them back, and the project is complete without additional costs.
2. Aldermore
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Aldermore is a company that 10 years ago began offering commercial mortgages and other products to help small businesses with their financing needs.
Today they offer financial growth solutions all over the UK to SMEs and other small businesses such as asset finance, invoice finance, commercial mortgages, and construction and development mortgages.
As per the asset-based loans, Aldemore offers hire purchase, refinance and lease financing where you don’t have to pay for expensive assets or machinery all at once.
In addition, funding is available for a wide range of assets, including manufacturing equipment, energy, and IT resources.
3. Bluestar Leasing
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Bluestar Leasing is a finance broker specializing in asset finance and commercial loans, including software finance, fit-out finance, commercial loans, and VAT loans.
Asset-based finance includes a wide range of equipment for different businesses across all sectors ,including hospitality, retail, healthcare, media, and more.
4. Braemar Finance
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Braemar Finance is an asset finance company that provides a range of finance options, including business loans, tax, and VAT loans, hire purchases, and leasing.
They offer tailored solutions focused on helping businesses grow and develop by giving their clients access to equipment, vehicles, and technology they need without impacting their cash flow.
That includes an unsecured commercial loan for various business purposes, from buying equipment and refurbishment to buying into a new business.
In addition, Braemar Finance specializes in finances for dental, veterinary, optical, legal, accountancy, medical, pharmacy, and funeral businesses.
5. Close Brothers
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Close Brothers Group is a leading UK-based merchant finance provider. They ensure the quality and returns on lending by consistently applying lending criteria across the financial cycle.
The loans they make are almost always collateralized, and they adhere to stringent underwriting standards that prioritize safety overgrowth.
Hire purchase, refinance/capital release, finance lease, and operating lease are just some of the asset-based lending products they provide.
For instance, vehicles, machinery, and equipment are all good candidates for the hire purchase payment plan, which allows you to amortize the cost of the asset over a set period.
Companies of all sizes can benefit from the sale and leaseback financing options available through refinancing/capital release.
6. CMF Business Finance
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CMF Business Finance is a broker that provides asset financing for various purposes, including new ventures, bridge loans, business expansion, and commercial mortgages.
Companies can get loans from the best UK lenders through these underwriters at surprisingly low-interest rates and in a short amount of time.
CMF Business Finance allows you to borrow from £1,000 to over £1,000,000 with new and pre-owned assets used to secure asset-based loans.
Companies can use inventory assets like vehicles, machinery, or equipment as collateral for loans, and they can use in-house experts to evaluate data for asset-based lending.
Moreover, payment terms with CMF Business Finance are adaptable and reasonable, whether you opt for leasing or hire purchase.
7. Novuna
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Novuna is a banking and finance growth company that offers unique financial options and enhanced client service to individuals, SMEs, and Multinationals.
Easy to understand and reasonably priced, their financing options are tailored to each client’s specific requirements, allowing them to purchase or lease the equipment they need to run their businesses.
With Novuna Business Cash Flow, you can release up to 90% of the value of unpaid invoices on the day they are generated.
Within 24 hours, you can start increasing your cash flow, without any collateral as a security measure for the loan approval.
Novuna allows you to cash out an annual maximum of £5,000.00 in invoices.
Upon receiving payment from your clients, Novuna will transfer the remaining balance to you after deducting any applicable fees.
In addition, Novuna collaborates with businesses across the industry, including manufacturers, distributors, franchisees, and franchisors.
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