- Finance productsBackFinance productsCompare across our range of products and services to find the right finance solution for your business.Find out more
- About usBackAbout usWe combine industry expertise with innovative, flexible funding solutions to support firms across the UK. Our range of products can be tailored to meet business' objectives such as improving cash flow or financing strategic events including mergers and acquisitions.Find out more
Important information
Republic of Ireland - New Lending to Sole Traders & Partnerships (Regulated)
Lending to Sole Traders & Partnerships is provided by Close Brothers DAC under the trading style Close Brothers Commercial Finance.
Close Brother DAC is regulated by the Central Bank of Ireland. As a regulated entity, Central Bank of Ireland relevant consumer protection codes and regulations will apply.
For further information, please see our terms of business.
Republic of Ireland - New Lending to Companies (Unregulated)
Lending to companies is provided by the Irish Branch of Close Brothers Limited under the trading style Close Brothers Commercial Finance.
Close Brothers Limited is a UK registered private limited company and is authorised by the Prudential Regulation Authority and is regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom.
Warning: The provision of this service does not require licensing, registration or authorisation by the Central Bank of Ireland, and as a result is not covered by Central Bank of Ireland rules designed to protect consumers or by a statutory compensation scheme.
Northern Ireland - New Lending to Companies, Partnerships and Sole Traders (Regulated & Unregulated)
Lending in Northern Ireland is provided by Close Brothers Limited under the trading style Close Brothers Commercial Finance.
Close Brothers Limited is a UK registered private limited company and is authorised by the Prudential Regulation Authority and is regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom.
ROI - Sole Traders & Partnerships (Regulated) Republic of Ireland - New Lending to Sole Traders & Partnerships (Regulated) Lending to Sole Traders & Partnerships is provided by Close Brothers DAC under the trading style Close Brothers Commercial Finance.
Close Brother DAC is regulated by the Central Bank of Ireland. As a regulated entity, Central Bank of Ireland relevant consumer protection codes and regulations will apply.
For further information, please see our terms of business.
ROI - Companies (Unregulated) Republic of Ireland - New Lending to Companies (Unregulated) Lending to companies is provided by the Irish Branch of Close Brothers Limited under the trading style Close Brothers Commercial Finance.
Close Brothers Limited is a UK registered private limited company and is authorised by the Prudential Regulation Authority and is regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom.
Warning: The provision of this service does not require licensing, registration or authorisation by the Central Bank of Ireland, and as a result is not covered by Central Bank of Ireland rules designed to protect consumers or by a statutory compensation scheme.
NI - Companies, Partnerships and Sole Traders (Regulated & Unregulated) Northern Ireland - New Lending to Companies, Partnerships and Sole Traders (Regulated & Unregulated) Lending in Northern Ireland is provided by Close Brothers Limited under the trading style Close Brothers Commercial Finance.
Close Brothers Limited is a UK registered private limited company and is authorised by the Prudential Regulation Authority and is regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom.
How does refinancing work?
Refinancing uses the value of assets you already own to help your business. With Sale and HP Back – a type of refinancing – you sell your equipment to us, and we lend you the money you need to invest in your business.
You pay us back in line with what the equipment earns for you. Once you’re done paying us back, you own the equipment again.
This works whether you own the equipment outright or are already financing it with someone else.
Who is refinancing for?
Refinancing is for anyone looking to unlock the value of their existing assets to support their business. Whether you own equipment outright or are financing it elsewhere, refinancing can provide a quick way to access funds for things like new equipment, improving cash flow, or other business needs.
It’s a flexible option suitable for businesses of all sizes, including sole traders.
Benefits of refinancing
Get more cash easily
Pay over a longer period
Choose what's best for you
Decide quickly
An example of how refinancing works...
Let’s say you run a manufacturing business and one of the assets you own is a CNC machining tool to create parts for customers. You need money to expand, so rather than taking out a traditional loan, you decide to utilise the value in your existing assets by refinancing the machine. You approach us and we agree to buy the CNC machining tool from you. After giving you the cash, you then lease it back from us. You make monthly payments – think of it like rent - based on how much money the machine helps you make. When the lease is done, you own the machine again. It’s like getting a loan using your machine as collateral.
Frequently asked questions
Can I keep using the asset once it has been refinanced?
Yes, you can continue to use your asset throughout the duration of the agreement.
Why would I need to refinance an asset?
Refinancing can provide a quick way to access funds for things like new equipment, improving cash flow, or other business needs.
What’s the repayment schedule?
The flexible repayment terms are tailored to suit your business’s needs.
How will I receive the funds?
With our in-house specialist underwriters providing quick decisions the funds will be paid by Faster Payments into your bank account within an agreed time.
What is the application process like?
The process is straightforward:
- You approach us and we agree to buy the asset from you
- After giving you the cash, you then lease it back to us
- You make monthly payments based on how much money the machine helps you make
- When the lease is done, you own the machine again
Will previous negative financial decisions affect the application?
We make decisions based on the overall health and future plans of a business.
Providing us with all the information we need up front means we can address any queries with our in-house team of underwriters.
Can I keep using the asset once it has been refinanced? Yes, you can continue to use your asset throughout the duration of the agreement.
Why would I need to refinance an asset? Refinancing can provide a quick way to access funds for things like new equipment, improving cash flow, or other business needs.
What’s the repayment schedule? The flexible repayment terms are tailored to suit your business’s needs.
How will I receive the funds? With our in-house specialist underwriters providing quick decisions the funds will be paid by Faster Payments into your bank account within an agreed time.
What is the application process like? The process is straightforward:
- You approach us and we agree to buy the asset from you
- After giving you the cash, you then lease it back to us
- You make monthly payments based on how much money the machine helps you make
- When the lease is done, you own the machine again
Will previous negative financial decisions affect the application? We make decisions based on the overall health and future plans of a business.
Providing us with all the information we need up front means we can address any queries with our in-house team of underwriters.
Finance is secured against the asset and/or equipment. If you're unable to keep up with your payments, we may repossess the asset and/or equipment.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
