Extending the life of older equipment...
How do I fund a significant repair, rebuild or refurbishment of existing equipment, plant and machinery?
Extending the life of existing equipment by rebuilding or refurbishing it can defer major capital expenditure and be a very cost-effective option for your business.
HOWEVER, it may be challenging to fund from cash flow and traditional funders may be reluctant to consider the existing asset as appropriate collateral, impose further security requirements or require repayment over a short period not recognising the life of the asset is being extended.
A specialist funder who understands assets and is able to structure a longer term for you will result in a loan matched to the economic life of the asset; making your monthly payments more manageable and improving cash flow.
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