Hire purchase
You pay in instalments and own the asset once the final payment is made.
Asset finance
Get the equipment now, pay for it monthly
For businesses that need plant, vehicles, IT or equipment without handing over the full price on day one. The cost is spread into fixed monthly payments, arranged through Novora Asset Finance™.
Asset finance lets you use a piece of equipment while you pay for it, with the funding secured on the asset itself. It suits a new van, a CNC machine, a phone system, a gym fit-out or a boiler replacement, and it keeps your working capital for the things lenders won't fund.
3S arranges it through our sister business, Novora Asset Finance™, a UK brokerage with thirty years in asset finance and access to a broad lender panel. If the asset is part of a job we have priced, the funder sees a defined scope and a real number, which makes the application straightforward to assess.
Lenders have very different appetites by sector and asset type. A decline from your own bank does not mean the deal cannot be funded. It usually means it went to the wrong lender.
Why 3S
- One contract, one point of contact
- A plan within 48 hours
- Facility agreed before you commit
- Broad lender panel via Novora Asset Finance™
Asset finance
What asset finance through 3S covers
Finance lease
The lender owns the asset and you rent it for the term, useful where you want the use rather than the ownership.
Operating lease
Lower payments where the asset holds its value, with the option to hand it back at the end.
Hard assets
Plant and machinery, commercial vehicles, construction plant, agricultural equipment, manufacturing and CNC, materials handling.
Soft assets
IT and telecoms, EPOS, catering and gym equipment, security and CCTV, furniture, fit-out and AV.
Refinance and capital release
Sale and leaseback or refinancing of assets you already own, to free up cash tied up in them.
Your 3S project
Plant replacement, refurbishment, energy retrofit and systems builds that we price can be funded too.
Terms in writing first
Novora sets out the term, the total cost and any fees before you commit to anything.
Choosing the right type of asset finance
The main choice is whether you want to own the asset at the end. Hire purchase ends in ownership. A finance lease gives you the use of the asset for most of its working life without owning it. An operating lease suits assets with a reliable resale value, such as some vehicles, because you only pay for part of that value.
The tax and accounting treatment differs between them, including how capital allowances and VAT are handled. Novora will explain how each option is structured, but the right answer for your accounts is a question for your accountant, and we would rather you asked them before signing.
Soft assets, such as software-heavy IT or a fit-out, have little resale value, so fewer lenders will fund them. That is where a specialist panel matters most.
How it works
Three steps, one point of contact
Step 1
Tell us what you need
Share the asset, the supplier quote or our proposal, and the amount. You can check your likelihood score first in about twenty seconds, with no credit footprint.
Step 2
Novora approaches the right lenders
Your profile tells Novora which lenders are most likely to say yes, rather than papering the whole panel. Straightforward applications usually get an indicative decision quickly; larger facilities may need accounts.
Step 3
Agree terms, then commit
You see the term, the monthly payment, the total cost and any fees in writing. The facility is agreed before you sign contracts, so you are never committed before the funding is.
Next steps
How the funding fits alongside the work
Where the asset is part of a 3S project, we issue the proposal first and you apply while it is under review, so the finance does not hold up the programme. The facility is agreed before contracts are signed, and on staged works funding can be released against interim certificates. Finance is subject to status and credit approval. 3S Consult is not a lender and does not give financial advice. Applications are handled by Novora Asset Finance™, who set out the terms, the total cost and any fees before you commit.
Evidence
What you hold before you commit
You get a proposal with one number for the works and the funding option alongside it, then a facility agreed in writing before any contract is signed. The paperwork shows the term, the total cost and any fees, so you can check it with your accountant before you go ahead.
Questions
Asset finance: common questions
Can I finance second-hand equipment?
Often, yes. Lenders look at the age, condition and resale value of used assets, and some specialise in them. Tell us what it is and who is selling it.
Do I need a deposit?
It depends on the lender, the asset and your business profile. Some deals need a deposit or advance payments, others do not. Novora will tell you before you apply formally.
Can you fund a maintenance contract, not just equipment?
Often, yes, particularly where the contract includes a capital element such as plant replacement or an upgrade programme. Ask us before you assume it can't be done.
I've been declined elsewhere. Is it worth applying?
A single decline doesn't mean the deal is unfundable. Lenders have very different appetites by sector and asset type, and that is what a broker panel is for.
Will checking my likelihood score affect my credit file?
No. It reads the accounts already filed at Companies House and leaves no footprint. It is a guide, not a decision.
Related services
Often needed alongside this
Business loans
For SMEs that need cash for growth, payroll, stock or a gap between committed spend and income. Loans are arranged through Novora Asset Finance™ from a broad UK lender panel.
Read more →VAT fundingFor businesses facing a large VAT payment on a property or asset purchase, or a quarterly bill that lands at the wrong moment. A VAT loan covers the gap until the money comes back or the cash comes in.
Read more →Hard facilities managementFor business owners and facilities managers responsible for a building that has to stay open. One contract covers the plant, the fabric and the testing, with every job evidenced before it is signed off.
Read more →