• Borrow from
    £10k to £500k

  • Competitive rates
    from as low as 3.95%

  • No upfront fees
    or hidden charges

  • Same day funding
    options available

  • Flexible repayment
    terms up to 7 years

IT hardware and software finance

Have you ever thought about spreading the cost of your IT Hardware or Software through a finance agreement?

With all the modern technology in business today, up to date IT Hardware and Software has become a critical element of everyday trading.

No matter what line of work you are in, you most likely utilise either IT Hardware or Software on a daily basis.

Up to date IT equipment may allow your business to stay one step ahead of your competition or help your business by accelerating growth through improved efficiency.

You might be thinking that you cannot afford the latest technology for your business, as it can seem too expensive to purchase outright.

This is where The Funding Store can help, we offer IT Finance and Leasing Options for both IT Hardware and Software purchases.

Finance lease

In its simplest form, leasing is a way of splitting a cost into manageable instalments.

Our IT leasing options are between 1-7 years and includes three elements to each rental payment: part of the asset cost, interest, and VAT.

This leasing option is typically seen to be a low cost, tax efficient way of acquiring assets that your business needs.

Leasing allows you to spread the cost of the asset over a set period, with easy to manage monthly rentals, whilst also spreading the cost of VAT paid with each payment and not upfront.

Benefits

  • Flexible payment options

  • Ease cashflow by spreading the cost

  • Spread the cost of VAT

  • Quicker access to the latest technology

  • Flexible end of term options

Hire purchase

Hire Purchase options allow you to own the asset at the end of your agreement term.

Typically, the full amount of VAT is repaid along with the first repayment, though some funders will allow you to defer the VAT element for up to 3 months.

The remaining fixed payments are repaid in a monthly, quarterly or on an annual basis.

Benefits

  • Ownership of the asset once final payment has been settled

  • Ease cashflow by spreading the cost over a fixed term

  • Fixed monthly / quarterly / annual payments

Impact on your businesses tax bill

As all leases are classed as a business expense, this means that the payments you make can be offset against your corporation tax bill. You can also claim back the VAT that you make on every payment.

With hire purchase agreements you can benefit from your annual investment allowance (currently £1million, though decreasing to £200,000 as of 1st January 2021), just as if you had purchased the equipment outright, interest payments could also be offset against tax.

IT assets that we can finance

Just some of the assets we can finance:

  • Telephone systems and mobile technology

  • I.T

  • Desktop Printers

  • LED Screens

  • We can consider hosted solutions

  • Software, including software licenses

  • ERP solutions are considered, subject to reseller and finance amount

  • Soft assets including installation, upgrades, maintenance (terms apply)

This list is not exhaustive, please contact your account manager if have another asset that you would like to finance

How it works

We can offer the following asset finance options:

Finance lease

Need new equipment or vehicles without the burden of ownership? A finance lease works in a similar way to renting, at the end of the agreement you will be able to return the equipment, meaning you aren’t left with out-dated equipment.

Hire purchase

If you’d prefer to own the new asset at the end of the term then a hire purchase could be for you. This works in a similar way to a finance lease, but your monthly payments will be working towards full ownership at the end of the agreement.

Operating lease

For those needing plant, machinery or tools to carry out their trade, an operating lease gives you the flexibility of monthly payments with a final term payment based on the different between the original purchase price and the final residual value.

Refinancing

Often described as a way of ‘unlocking’ cash, refinancing is a type of asset finance that uses existing items in your business as security. This means that you can take out finance based on the value of something your business already owns.

Why use The Funding Store?

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Are you looking for a hassle free loan application with
no hidden fees and no upfront charges?

We are continually reviewing funding providers to bring you choice, competitive rates and flexibly to access the right finance, at the right time. But most importantly, we are passionate about what we do. This is evident in our enthusiasm and commitment to assisting you at each stage and after you have secured your finance.

Sourcing finance, supporting growth

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IT hardware and software finance specialists

We help all types of businesses to access asset finance. By connecting you with an extensive panel of reputable lenders, our team can bring you choice and competitive asset finance.

If you have any questions on how asset finance might work for your business please do get in touch with our team, we will be pleased to help.

Based in Milton Keynes, our team are fast moving and the application process is simple and fast, and without upfront fees for your finance.

We are open 7 days a week, so contact us today via our online contact forms and we will get back to you as quickly as we can.

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