Catering Equipment Finance: The recipe for your success
Funding solutions for your catering business will ever need with catering equipment finance.
Current Terms Available
- HP up to 60 months
- Balloon payment options
- Rates from 6%
- We can almost always undercut so called "0% finance" deals from suppliers
- Variety of leasing arrangements
- Adverse Credit – no problem
- Lease any type of asset
- No capital requirements
- Funds for any type of equipment
- Up to 100% Loan to Value available
- Reduce monthly outgoing
- Low rates – lending secured on assets themselves
Talk to Rangewell – the business finance expertsThere are many lenders on the market, but not all understand the catering industry. We know the entire market, and can help you find the most appropriate lenders and the most competitive rates for your catering business
The cost of kitting out a professional grade kitchen can be a barrier to your success
An 8-burner commercial oven can top £5,000. Even a countertop coffee machine could be more than £3,000.
There are few businesses that can afford that level of investment themselves. You need access to high levels of finance - especially if yours is a new venture.
Asset Finance solutions
Fortunately, finance solutions exist which can make the equipment you need affordable. The most cost-effective of these can be Asset Finance arrangements. With these, the equipment you need, the asset, is used as the security for the loan itself. This means that if you were unable to repay, the lender would simply repossess the asset.
This has three important benefits:
- It makes it easier for the lender to agree to a loan because it reduces the risk that they will lose money
- It reduces the risk to you because none of your other personal or business assets are at risk
- It can reduce the cost of finance
A choice of Asset Funding
Asset funding covers both Hire Purchase and Lease arrangements.
Hire Purchase lets you spread the cost of buying the equipment you will use for the long term. Arrangements generally last between 12 and 72 months and need you to pay a deposit plus fixed monthly instalments for the agreed term, after which the assets become yours.
Equipment vendors may offer Hire Purchase arrangements to support their sales. At Rangewell, we have found that arranging your own finance can be more cost-effective.
Finance and Operating Leases
With Leases, you can spread the cost of equipment across its entire economic life. Finance Leases are the choice for most catering equipment, with maintenance, repairs, running costs, administration, and registration usually your responsibility. With Finance Leases, at the end of the agreement, the asset may become yours.
Operating Leases also exist and work like a rental agreement. You pay a monthly rental charge to use the asset, while its maintenance remains the owner’s responsibility. This type of finance could be the best option for equipment which will have a limited life.
New and used assets
Pre-owned equipment can mean major savings compared with new equipment. It is possible to arrange various types of Asset Finance for used equipment, allowing you save twice - with both a reduced purchase price and, secondly, by spreading the cost of finance.
Making existing payments easier
If you are having difficulty making payments on an existing asset finance arrangement, or simply want to redirect cash elsewhere in your business, you may be able to refinance it. A lender will pay off what you owe under your original agreement and set up a new finance arrangement.
This can mean reduced repayments, spread out over a longer term, or provide you with a cash lump sum as well as a new finance agreement for your asset.
Why you need Rangewell for Asset Finance
At Rangewell, we work across the entire catering industry. We help businesses from chip shops and fast food providers to Michelin-starred restaurants find the funding they need.
Our expertise works for you. We know the business challenges as a well as the financial challenges you face. We also know the lenders who specialise in the sector and who can offer the most competitive rates for all types of asset finance solutions.
We put this knowledge to work for you, finding the most competitive deals for the equipment you need.
REAL EXAMPLES OF WHAT WE CAN DO
Find the most competitive funding to allow a new restaurant to equip its kitchen
Help a fish and chip shop find asset funding for a pre-used frying range
Source a lease arrangement to equip a fast-food chain with standardised prep equipment
Find the most competitive finance to allow a pub to install a restaurant kitchen
Help an established restaurant to arrange an HP deal for a complete air conditioning and ventilation system
Call us to cut the cost of equipping your catering business
Coming to Rangewell means getting a team of finance experts working to help you find you the most competitive funding for all your catering equipment needs.
That means cutting the cost of building and running your business, and paying less for everything from ovens and refrigeration to the tables and chairs in your dining rooms.
Our service is personal. We can discuss your business and your ambitions, and help find answers scaled to fit your turnover and your market. Simply call us to discuss your equipment needs.
Helping you build your profits
Reduce capital needsAsset finance spreads the cost of your equipment over months or years. You may not even need a deposit with some types of finance.
Repayments that can fit your operating budgetAsset finance can be arranged to help your repayments fit your monthly budget.
Scaled for your businessAsset finance can work at any scale, from a single piece of kitchen equipment to a complete, start-of-the-art catering facility with refrigeration, environmental and cooking facilities.
Funding is secured on the assets themselvesAsset funding avoids risk to your other assets. If you found the repayments became a problem, the lender could simply repossess the equipment.
Funding for all types of equipmentAsset funding can cover virtually any type of equipment used in your catering business. A single arrangement can cover items from multiple suppliers.
Better than 0% supplier financeSome suppliers may offer 0% finance deals on their equipment. Call Rangewell to understand how we can help you pay less than with these ‘interest-free’ deals.
Download Rangewell’s free and detailed guide to Asset Finance
- What is Asset Finance - and how it gives you a business advantage
- What are the types of Asset Finance - which do you need?
- Why not all providers are equal - finding the one that’s right for you
- How we can help you pay less than 0%
- The downsides to Asset Finance - and how to avoid them
- How to arrange Asset Finance - What paperwork do you need?
- Key terms explained
Monthly payments vs repayments - the options you have when buying or leasing equipment
What equipment financing options do I have?
What is the benefit of equipment leasing?
Can Asset Finance release working capital for my business?
Equipment finance may count as debtLenders may view long-term equipment finance arrangements as debt and adjust their valuation of your business, reducing your ability to access other types of business finance.
Your key equipment could be at riskIf you are unable to keep up repayments on a hire purchase or lease agreement, the equipment your catering business depends on could be at risk.
Long term commitmentIt may not be practical to pull out of a lease arrangement once set up. This could be a problem if your business grows and your equipment is no longer adequate for the quantity of work you are doing.
Our service is...
ImpartialTransparent and independent, treating all lenders equally, finding the best deals.
In-depthEvery type of finance for every type of business from the entire market - over 300 lenders.
In-personSpecialist Finance Experts support you every step of the way.
FreeWe make no charge of any kind when we help you find the loan you need.