If you have any questions or need a better understanding of our products, please take a look at our FAQs below.
Alternatively our finance experts are always on hand to answer any other questions you may have.
How is retail asset finance different to other forms of funding, say a bank loan or an overdraft?
Unlike overdrafts, asset finance is not repayable on demand. It’s also a form of secured loan (the asset is our security) so our lending criteria is often more flexible than a bank loan.
How do I apply?
To apply, you can omplete the online form, call us on 01633 415 222 or email firstname.lastname@example.org.
We’ll be in touch within one working day.
Can I refinance the equipment that I already own?
Yes you can, however there are certain criteria surrounding the age and condition of equipment that we’ll refinance. (Such as the type of equipment, and the date that you purchased it.)
Please call and speak to one of the team, who will guide you on how to release the capital tied up in your assets.
Will my payments increase if inflation or interest rates rise?
No – your monthly payments are fixed and are unaffected by interest rate rises.
Will I need to pay a deposit?
Not necessarily, usually we only ask for a nominal amount at the outset of your finance agreement, equivalent to a monthly payment. This means you can start using the equipment straight away and generating profit from it before the next payment is due.
Can I borrow up to 100% of the value of the asset?
Yes – on new assets, loan to value (LTV) can be up to 100% of the invoice amount excluding VAT.
How much can I borrow?
The amount you can borrow will depend on your business and time trading. However, as a general rule - we finance equipment with a value of £1000 upwards, with no upper limit. Finance is subject to status and is available to business customers only. Terms and Conditions apply
What types of businesses do Henry Howard Retail Finance lend to?
We lend to all types of businesses, including retailers in the convenience store sector. Examples of businesses include; gyms, bars, restaurants, garage forecourts, dentist surgery's, warehouses and even primary schools.
It doesn’t matter whether you’ve been established a few decades or just a few months – we can provide finance for businesses of all sizes and stages.
Would my customers be better off going to their bank for financing?
Not necessarily. Banks may not be able to provide a complete solution and often look for higher levels of security, asking for large deposits or making charges on assets or property. By leasing or hire purchasing, your customers still have the option of going to their bank for working capital requirements and other business purposes.
Will I need a Consumer Credit License?
Yes, you will – the Financial Conduct Authority now regulate firms offering consumer credit. Visit https://www.fca.org.uk/firms/authorisation/when-required to find out more.
Why should I sell my products on asset finance?
Selling on finance makes your products accessible to a wider range of customers.
It allows customers to invest, without the need for a large, upfront upfront capital outlay.
Asset finance also gives you a seamless solution that adds value to your sales process and ensures that you get paid in time, every time.