New Business Finance UK

New Business Finance UK

New Business Finance UK

If you are running a start-up business, you will be all too aware of the importance of having access to sufficient funds and how cash flow can often become a precarious balancing act. Starting a company is never easy, and it can be difficult to build revenue while also investing in the assets that you need to grow.

At WestWon, we are highly experienced in helping match new businesses with the right lenders and have provided finance and leasing for a wide range of start-up businesses. We understand that it can sometimes be difficult for new businesses to obtain credit. The good news is that we can use our unrivalled network to scope out the most suitable lender for you, using our access to over 50 UK based funders.

Who Choose WestWon?

Call us today on  01494 611 456 for new business finance. Our highly knowledgeable and friendly team can offer you a FREE, no obligation quote and answer any of your queries.

Leasing Calculator

1. For enquiries over £100,000, please contact us directly on 01494 611 456.

2. The rental price indicated is for general guidance and is subject to credit approval.

3. Business users only.

New Business Finance UK- The Process

crane finance

Benefits of Finance for New Start Businesses

  • Cash flow

    You will be able to keep funds in your business to be used elsewhere

  • Alternative lines of funding

    You don’t have to use up a bank facility you already have

  • VAT

    On rental agreements, the VAT is included in the rental, not in a lump sum

  • Pay for the equipment as you use it

    Companies pay employees over time as they work, so why pay all the cost for your equipment in advance?

  • The latest equipment

    Always have the latest technology at your disposal by implementing a recycling strategy, whereby you replace equipment at the end of the lease term

  • Tax planning

    Using a lease rental agreement, 100% of your rental is deductible against your companies corporation tax

FAQ’s

For new start businesses, we can write any lease deal starting from a value £1,000.00 + VAT up to over £100,000 + VAT.

A new start business is a company trading less than 2 years.

Our average new start leasing deal is £12,000 + VAT over a 3 year term.

If you are a home owner and have a clear personal credit history, we should be able to source funds for you.

The information we need will depend on the amount you’re looking to finance and the equipment. However, for new start businesses we will need some sort of security behind the lease in the form of a personal guarantee. We may also ask for bank statements to support your application.

The majority of deals we write for new start businesses are over 3 years. However, we can lease up to £25,000 + VAT worth of equipment over 5 years.

Often we take a three months deposit to keep the monthly rentals lower however you can pay more or as little as one month upfront if you wish.

Yes, under terms of a lease rental agreement you have the option to own the equipment at the end of lease. Alternatively, there is an option to return the equipment at the end of the lease if you wish to get new equipment.

Yes, you can even include multiple suppliers of equipment on the same lease.

Applications can be accepted within a few hours and once documents are signed, the equipment will be delivered, and the agreement activated within 2 working days of delivery and install.

If the CCJ is satisfied and there is a good reason for the County Court Judgement, then we will argue your case. However, if you have an unsatisfied CCJ, then sadly we will struggle to get finance.

Our customer retention rate is extremely high, our latest figures shows that over 80% of customers will use WestWon again, mainly due to our level of customer service and the range of assets we finance.

Yes, it is up to you who you use as a supplier.

Yes, work alongside hundreds of suppliers of a range of equipment types. We would be more than happy to put you in touch with a company who can assist.

The finance company will work out a settlement figure based on how many rentals are left to pay, so in short, yes.

Technically you can, but nobody ever does. It is more cost effective to set up a brand-new lease.

New Business Finance UK Leasing example

New Business Finance UK
  • Company
  • Lease Value
  • Term
  • Repayment
  • Rationale
  • A new start takeaway
  • £51,785 + VAT
  • 36 months
  • £1,861.67 + VAT per month
  • Financing of a full kitchen solution including bespoke canopy extraction system, natural gas cookers, counters, sinks and installation

Free Up Cash In Your Business

Applying for finance as a new business is a great way to free up cash in your business, or to keep your available credit free. You may have an overdraft on your business bank account, or access to cash on your corporate credit cards. However, why spend that cash if you are able to obtain access to assets through a new business finance agreement? Many businesses, particularly small or new enterprises, instead choose to keep this cash free in case of emergencies or to invest in the growth of the company.

Send us an enquiry online

© 2021 WestWon Limited
The Financial Conduct Authority (FCA) regulates financial services in the UK and you can check this on the Consumer Credit Register by visiting the FCA’s website here or by contacting the FCA on 0800 111 6768. WestWon Limited is a credit broker and not a lender. WestWon companies deals with a range of lenders. All WestWon companies hold a current Data Protection Licence and are registered for VAT. These details, together with our policy on Treating Customers Fairly, Complaints Policy and address details are held under our Get in Touch page.
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