Asset Advantage enhances business loan proposition with two new products

SME lender, Asset Advantage, has launched two new dedicated products as part of its enhanced business loans offering.

The first is a capital expenditure (CapEx) term loan, which is designed to provide flexible funding for business assets that may not be suitable for more traditional funding types. This covers non-standard assets – including specialist equipment and soft assets, as well as fit-outs, refurbishments and commissioning costs. 

The second product is a business acquisition loan, which is suitable for those looking to purchase a business, buy-out a business partner or complete a management buy-in. It provides a flexible funding option comprising of upfront capital and structured repayments, with Asset Advantage typically funding 100% of the transaction. 

Both products offer loans between £75,000 and £500,000, with a maximum term of 60 months. They are available to limited companies, sole traders and LLPs, with options also for new start businesses – those with two or less years of filed accounts. 

Gary Thompson, sales director at Asset Advantage, said: “Our new look business loans offering makes it even easier for commercial brokers to pair the right products and funding with the right client and business case. Our two new dedicated products answer the clear funding needs many SMEs currently face – whether it’s support with an acquisition, the need to complete fit-outs and refurbs or acquire non-standard assets. Business loans offer a tremendous vehicle to achieve this and with our experienced and skilled approach to funding, they remain a really popular part of our offering.

“Our latest broker survey tells us that funding for business acquisitions remains in high demand. The same is true for business loans, particularly those that can support and facilitate the likes of non-standard purchases, soft assets or intangible costs. In both cases, not every funder has the appetite or ability to provide such funding, so it’s important for commercial brokers to know where they can turn for help.”