Van Finance For New Businesses

Van Finance for New Businesses

Starting a business involves many critical decisions, and one essential aspect for many new businesses is securing reliable transportation. Van finance can be a crucial tool for businesses needing commercial vehicles without the upfront cost.

Challenges with Traditional Banks

For many new businesses, securing finance from traditional banks can be a significant hurdle. Mainstream banks often have stringent lending criteria, requiring a proven track record, extensive documentation, and significant security. This can be especially challenging for new businesses that lack an established credit history or sufficient assets. Moreover, the application process can be lengthy and complex, causing delays that can hinder business operations.

How First Oak Capital Can Help

First Oak Capital specialises in providing flexible and accessible van finance solutions tailored to the unique needs of new businesses. Here’s how we make a difference:

1. Simplified Application Process: We understand the pressures of running a new business, so our application process is streamlined and straightforward. We guide you through each step, ensuring you have the best chance of approval.
2. Expert Guidance: Our team has extensive experience in the finance industry, and we leverage this knowledge to help you prepare successful finance applications. We know what lenders are looking for and can help you present your business in the best possible light.
3. Access to a Network of Lenders: We have established relationships with a wide range of finance companies that are willing to support new businesses. This means we can match you with the best possible lenders for your specific needs.
4. Competitive Rates: We work hard to secure the most competitive rates for our clients, ensuring that you get a finance package that is affordable and sustainable.

Benefits of Van Finance

1. Preserve Cash Flow: Spreading the cost over time keeps your capital available for other critical business needs.
2. Flexible Options: Choose from hire purchase, lease purchase, contract hire, or finance lease based on your business model.
3. Quick Approval: With First Oak Capital, funds can be available within 48 hours, ensuring minimal disruption to your operations.
4. Tailored Solutions: We offer bespoke finance solutions tailored to your specific needs, ensuring that you get the most appropriate package for your business.

Types of Van Finance

• Hire Purchase: This option allows you to spread the cost of the van over an agreed period. Once all payments are made, you own the van outright.
• Lease Purchase: Similar to hire purchase but typically involves lower monthly payments with a larger final payment (balloon payment) at the end of the term.
• Contract Hire: This is a long-term rental agreement where you pay a fixed monthly fee for the use of the van. Maintenance and servicing are usually included.
• Finance Lease: This provides flexibility at the end of the term, where you can sell the van and retain a portion of the sale proceeds or continue using it with reduced payments.

Steps to Secure Van Finance

1. Assess Your Needs: Determine the type and number of vans required for your business operations.
2. Prepare Your Application: Gather necessary documentation and present a solid business case. First Oak Capital provides guidance on how to prepare a successful application.
3. Apply for Finance: Submit your application through our simplified process.
4. Approval and Funding: Once approved, receive the funds and acquire your vans. Our network of lenders ensures quick approval times, often within 48 hours.

Case Study: Helping a New Business Thrive

Consider the case of a new delivery service that needed a fleet of vans but was turned away by traditional banks due to a lack of trading history. First Oak Capital stepped in, helping them prepare a robust application and matching them with a lender from our network. Within a week, they had secured the necessary finance, enabling them to start operations immediately.

Conclusion

Van finance provides a practical solution for new businesses to access necessary vehicles without depleting their cash reserves. By leveraging flexible financing options, new businesses can ensure they have the right tools for efficient operation and growth. First Oak Capital stands out by offering tailored support and access to a network of supportive lenders, making it easier for new businesses to succeed.

Contact Us

Ready to get started? Contact First Oak Capital today to learn more about our van finance options and how we can support your new business’s growth.

For more information on our business van finance options visit this page.