We know better than most how difficult it can be to navigate the many commercial finance options available to you. To get you started, our team of experts has put together a comprehensive list of frequently asked questions on all aspects of commercial finance.
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Repayments will vary depending on the lender and the type of financing you choose. Generally, repayments have fixed repayment terms and interest rates, whilst others have a variable interest rate based on the time it takes for invoices to be paid.
There may be fees associated with applying for asset finance, such as valuation fees or application fees, and early repayment penalties may apply if the borrower decides to repay the loan before the end of the agreed-upon term. However, the specific fees and penalties can vary based on the lender and the asset being financed.
The application process for asset finance typically involves completing an application form, providing relevant documentation, such as financial statements, and undergoing a credit assessment. We aim to make the application process as streamlined as possible.
The eligibility requirements for asset financing will vary depending on the lender and the type of financing you choose. Generally, lenders will look at your credit score, revenue, and financial history to determine your eligibility. Some lenders may also require collateral or a personal guarantee.
Asset finance involves obtaining financing for assets such as equipment, vehicles, or real estate in order to support growth or achieve other financial goals. As an asset finance broker, Bluestone offers a range of services to help clients obtain the financing they need for their assets, including loan sourcing, loan structuring, and loan negotiation.
The timeline for securing asset finance can vary depending on the complexity of the financing arrangement and the specific requirements of the borrower. However, we work closely with our clients throughout the process to ensure that their financing needs are met in a timely and efficient manner. Key steps in the asset finance process typically include loan sourcing, loan structuring, loan negotiation, and loan closing.
Bluestone is able to offer finance for a wide range of assets, including but not limited to vehicles, agricultural equipment, machinery, and commercial properties.
Yes, there are some assets that may not be eligible for leasing, such as intangible assets such as patents or trademarks. This is because these assets cannot physically be used or sold by the lender as collateral.
Asset finance is a type of financing that allows organisations to acquire assets, such as equipment, vehicles, or property, without having to pay the full upfront cost. Our asset finance services provide a range of options to meet the specific needs of your business, including leasing, hire purchase, and loan financing.
We offer financing for a wide range of assets, including equipment, technology, vehicles, and more. There may be some restrictions or limitations based on the type of asset and the specific financing product, but we would be happy to discuss your needs and determine if there are any constraints.
Consequences include default, late fees, and damage to credit score. Lenders may seize assets or take legal action to collect the debt. Communicate with the lender early and explore options for loan modifications or extensions.
The application process can take a few days to a few weeks, depending on the lender and information required. It typically involves submitting documentation, completing an application form, and meeting with the lender.
One major risk is the inability to generate projected cash flow to repay the loan, leading to default and damage to credit score. To mitigate these risks, carefully evaluate cash flow projections and work with a reputable lender.
Lenders typically require proof of cash flow and revenue, credit score, and financial history. Documentation may include financial statements, tax returns, and business plans.
The loan amount and repayment terms depend on your business's cash flow and creditworthiness. Interest rates can range from 10-30%.
A cashflow loan is a type of financing that helps businesses manage short-term cash needs based on projected cash flow, rather than collateral or assets.
There are various financing options available for vehicle purchases, including traditional bank loans, several leasing options, and government-sponsored programs. We will help you determine the best option for your needs based on factors such as the value of the vehicle, your credit history, and your budget.
There may be special financing programs or incentives available for vehicle purchases, such as incentives for environmentally friendly vehicles or special financing programs for first-time buyers. We would be able to provide more information on these programs and help you determine if you are eligible.
Repayment terms for financing a vehicle can vary depending on the type of financing and lender. We would be able to provide information on the repayment terms for each option, including the length of the loan, the interest rate, and any additional fees or charges. We will help you understand how the repayment terms may impact your cash flow.
Financing a vehicle can impact your credit score and financial standing, and it is important to consider this when making a decision. Bluestone is able to provide advice on how to maintain a positive credit score while using financing for a vehicle purchase, including making timely repayments and using financing responsibly.
Public sector asset finance can be used to finance a wide range of assets, including vehicles, machinery and equipment, property, and IT equipment. These assets can be acquired through a variety of financing options, such as hire purchase, leasing, and refinancing.
The approval process for public sector asset finance can vary depending on the lender and the specific financing product. Typically, the approval process can take anywhere from a few days to several weeks. However, the process can be expedited by providing all the required documentation upfront and working with an experienced asset finance broker like Bluestone.
The eligibility criteria for public sector asset finance can vary depending on the lender and the specific financing product. However, some common eligibility criteria include having a good credit score, having a solid financial track record, and being able to demonstrate the ability to make repayments. The specific criteria will depend on the lender and the product.
Asset finance can help public sector organisations to improve their financial sustainability by providing them with the ability to acquire assets without tying up large amounts of cash upfront. This can help to improve cash flow management and preserve existing financial resources. Additionally, asset finance can provide tax benefits and help organisations to manage their balance sheet more effectively. Finally, asset finance can enable organisations to acquire the assets they need to deliver services to their communities, which can help to improve the overall effectiveness and efficiency of public sector operations.
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Once finance documents have been raised and issued, you would be required to contact Bluestone’s dedicated support managers who can assist with any required amendments.
Yes, you could create various quotes. Please see the dedicated help video and guides here.