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IT, software and technology finance

As a business owner you may know the struggle: Your IT equipment seems to be outdated, the business server is down, or your telephone system needs a makeover, but there’s not enough capital to purchase new IT equipment without risking your cash flow.

With rapid developments in technology, businesses can’t always keep up financially. So whether you’re seeking funds for technology business equipment, or you want to obtain assets for your IT company, here are a few types of finance that can lend you a helping hand.

Asset finance can be used to get business equipment such as:

  • Laptop & desktop computers
  • Software
  • Servers
  • Telephones and communication systems
  • Photocopiers
  • CCTV
  • EPOS Systems
  • Office furniture

Laptops on finance

Hiring new employees also means getting more business laptops. And, with a growing business and more opportunities to take on, you may need to make some upgrades too. In that case laptop leasing may be a practical way of getting IT equipment for your business.

Laptop leasing

To spread out the financial burden of purchasing IT equipment such as laptops, laptop leasing for small businesses can provide you with a useful financing solution, making investments easier to manage. It’s a type of equipment leasing, which prevents being stuck with obsolete business equipment.

Most providers will give you the option to lease laptops for either 6, 12, 18, or 24 months, and in some cases even longer. With a fixed monthly fee you can predict your monthly business expenses and don’t have to worry about your cash flow. In other words, you’ll rent the laptop for a fraction of its useful life, and return it when the agreed leasing period is over.

Since the hardware usually starts to age after only 2-3 years, you can swop your old laptop with a new one after the end of the leasing period, keeping your IT equipment up-to-date. This also means you can always acquire the latest business equipment, which may make your business more efficient, but would otherwise be unaffordable for a small business.

Benefits

However, the flexibility laptop leasing gives you comes with a price — leasing is almost always more expensive than purchasing equipment outright. Interest rates can make this kind of asset finance more expensive, but your monthly payments can be offset against your tax as an operating expense.

Having said that, you must keep paying the monthly fee even if you don’t use the item. So, if you don’t use the asset regularly, you may find this type of funding too expensive. Additionally, after the contract is up, you can’t keep the laptop, which means you won’t have any assets to trade in or resell.

No matter what laptop you would like to lease for your business, we work with a number of lenders who can provide you with the ideal funding option.

Laptops on finance include brands and models such as:

  • Apple Macbook & MacBook Pro
  • Dell Latitude
  • Dell XPS
  • HP EliteBook
  • HP Spectre Pro
  • Lenovo ThinkPad & ThinkPad Carbon
  • Microsoft Surface Pro

Laptop hire purchase

If you prefer to buy and keep your IT equipment, hire purchase could be a good alternative. With this type of finance you can purchase laptops and use them in the long run, but still spread the costs. With monthly installments and an upfront deposit of normally 10% you will purchase laptops over time — you’ll own them after the last installment has been made. The lender will also want you to pay all the VAT beforehand.

Put simply, with this kind of equipment finance the lender will loan against your laptops, which you then have to pay back. In case you can’t make your repayments, the lender can keep the asset as collateral.

There are many types of asset finance out there, and we can help you find the right one for your purposes.

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