Flexible finance for the equine industry
First Equine Funding, a trading style of First Business Finance (UK) Limited, was launched in 2017. We found a niche within the equine industry feeling that horseboxes and equine assets were not necessarily being financed on the most flexible terms possible, we established First Equine Funding which offers tailored finance plans to both business and consumers.
Working with over 50 different lenders, we can secure finance for any type of credit status, situation or need :
- Up to 10-year terms
- No deposit options
- Up to 60% balloon payments
- VAT deferrals
- Rates from 4.5%
As a team, First Business Finance and First Equine Funding alike, provide a wealth of experience going back some 25 years, providing a friendly and seamless service.
This is our most common form of finance package – this is where a minimum of 20% deposit is placed (the VAT) and the remainder of the value is spread over the finance term. Each monthly payment is fixed from the start, and at the end of the agreement you own the vehicle outright. This funding option which can be taken up to 10 years.
A balloon option of up to 60% is also available. Balloons are based on the future residual value of the horsebox, it adds flexibilty to the deal whereby you can upgrade your vehicle sooner than you were previously able to.
Business users can also claim 100% of interest offset again taxable profits and claim down yearly write-down allowances against the vehicle. As well as claiming back the VAT deposit.
The lease option is very similar to a hire purchase, with only two differences: 1 – the VAT does not need to be placed as deposit – so as little as 5% can be put down. 2 – at the end of the contract a title transfer payment must be made (typically charged at the fixed monthly rental).
This is more flexible and VAT/Tax efficient, as each lease cost can be offset again pre tax profits, thus saving cira 20% per year for business users. With the only difference being the VAT is spread across the term, rather than paid upfront. Thereby aiding cash flow.
Terms can be arranged up to 10 years with minimal deposit, and balloons of up to 60%.
First Business Finance offers a wider range of finance options than most of its competitors. Whatever our clients’ requirements, we can provide a solution that meets their needs.