BSP Finance provide 2 lending products to support its customers. A finance lease and a commercial loan. A finance lease means that the asset is financed by BSPF Finance and owned by BSPF Finance until the last payment or residual payment is made. Payments are made in advance and the interest rate is fixed for the term of the lease. In the case of a commercial loan the asset is owned by the borrower but BSP Finance take a charge over the asset for the term of the loan. The charge is released once all the repayments have been made and there is no further debt to BSPF. A commercial loan is also financed at a fixed rate for the term of the loan. In both cases early repayment penalties may apply on fixed rate financing.