Asset Advantage launches two new business loan products for SMEs

Business finance provider Asset Advantage has expanded its lending proposition with the launch of two new dedicated products aimed at UK small and medium-sized enterprises (SMEs).

The new products – a Capital Expenditure (CapEx) Term Loan and a Business Acquisition Loan – are designed to offer greater flexibility for businesses seeking funding beyond traditional asset finance routes.

The CapEx Term Loan is intended for businesses investing in non-standard assets, such as specialist equipment, fit-outs, refurbishments and commissioning costs. Meanwhile, the Business Acquisition Loan provides funding for company purchases, partner buy-outs and management buy-ins (MBIs), with Asset Advantage typically able to finance up to 100% of the transaction value.

Both products provide loans of between £75,000 and £500,000, with repayment terms of up to 60 months. They are open to limited companies, sole traders and LLPs, including start-ups with fewer than two years of filed accounts.

Asset Advantage first introduced its business loans proposition in 2014 to complement its established asset finance offering, which has been available since 2007 through hire purchase and finance lease agreements. The company said the enhanced range aims to help commercial finance brokers meet a wider variety of client needs.

Gary Thompson, Sales Director at Asset Advantage, said demand for flexible business funding remains strong.

“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,” he said.

“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.”