Due to Government advice on COVID-19 our offices are now closed but Satellite Finance is very much still open for business. Due to high volumes of calls the best way to contact us is via email info@satfinance.co.uk

Over the last two weeks there have been several announcements made by the government regarding the support available for businesses during these difficult times.

Satellite Finance Limited want to try and help our customers in what is an unprecedented economic situation and so here is an update on the news we have received directly from the British Business Bank and lenders on our panel who are administering it.

Some good news

Media reports have said that the CBILS was not being used by the banks and lenders as it was intended. However, we have received assurances from lenders on our panel that they are processing applications alongside their normal eligibility criteria. They have advised that they will update their guidelines on the scheme more very soon. Several are able to offer funding on their normal commercial terms without utilising the scheme.

The British Business Bank have also stated that they are fast tracking accreditation for the CBILS, and new lenders will soon be available to the scheme. This has been confirmed by lenders on our panel.

We can help

The lenders that we know are already in the scheme have assured us that they are trying their best to get applications underwritten but as you can imagine with staff social distancing and the unprecedented demand then the process requires some patience. We are certain that as new lenders get accredited CBILS applications should become quicker to process and credit approvals much faster.
Through our accredited panel Satellite Finance are here to help you submit your application so check your eligibility with us and one of our experienced team will be in contact with you shortly to discuss your application and the further information we need.

Check Eligibility

Get the equipment you need - without sabotaging your cash flow

Fact: growing your business requires new equipment. That yellow digger that will speed up work on site tenfold. The office re-fit that takes the working environment from ordinary to extraordinary. The more efficient printer that will multiply your office admin productivity. Or that total computer system upgrade that’s been overdue since 1998…

The issue? Buying that equipment outright would put big pressure on your cash resources.

The answer? Asset finance.

What is asset finance?

Asset finance allows you to invest in the equipment that will help your business swell and thrive, without paying for it all upfront. The cost of the equipment is spread over the course of its ‘economic life’ (the period of time it’s expected to be usable for) and you make fixed payments every month for 12 - 72 months.

Asset Finance Image

What are the biggest benefits?

It prevents a cash flow burden and a whole lot of financial anxiety being dumped on your shoulders

It may reduce some of the risks that outright ownership could come with

You can buy higher standard equipment (the equipment you really want) that would simply be too expensive if you bought it outright

Future budgeting is much easier because your payments are fixed, even if interest rates go up

It can be more tax efficient than standard-term loans because payments are booked as expenses

Types of Finance

Asset Finance

Hire Purchase

Want to keep an eye on your outgoings? Hire Purchase could be right for you.

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Asset Finance

Equipment Leasing

Don't waste money buying when you can save money renting. This is great if you only need equipment for now, and not forever.

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Asset Finance

Refinancing Equipment

Your equipment can do a lot more than service your business - it can release money right back into your account.

Find Out More