Borrowing for asset purchases, enables clients to use BSPF's money to obtain assets, that will generate income for their business.
BSP Finance Lending Products
BSP Finance provide two lending products to support our customers:
- Finance Lease - the asset is financed by BSP Finance and owned by BSP 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.
- Commercial/Chattel 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 BSP Finance. Loans are at a fixed rate for the term of the loan without hidden ongoing monthly fees.
In both cases early repayment penalties may apply on fixed rate financing.