FAQs

Shire offers a wide range of asset finance products including:

• Hire Agreements
• Hire Purchase Agreements
• Business Loans
• Finance Lease for Hard Assets
• Contract Hire

Shire finances a wide range of equipment including:

• IT equipment (laptops, tablets, servers)
• Telephony systems
• Catering and cleaning equipment
• Furniture
• Gym and groundskeeping equipment
• LED lighting systems
• Vehicles (including minibuses)
• Temporary classrooms
• High-value machinery and commercial vehicles

While specific timelines aren't stated, the document outlines that agreements can be processed quickly once documentation and approvals are in place. Stage payments and purchase agency options allow for flexible funding arrangements.

Eligible applicants include:

• Sole Traders
• Partnerships
• Unincorporated associations
• Limited Companies
• PLCs
• LLPs
• Registered Societies
• Schools, Academies, Colleges, and Universities (subject to specific criteria)

Requirements vary by product, but generally include:

• Business use of the asset
• Minimum finance amount (e.g., >£25,000 for certain finance agreements)

Asset finance allows businesses to acquire equipment or assets without paying the full cost upfront. Shire offers various structures like leasing, hire purchase, and loans to spread costs over time.

Leasing benefits can include:

• Preserved cash flow
• Predictable rentals
• No major upfront costs
• Flexible payment structures
• Tax advantages
• Reduced risk of depreciation
• Off-balance sheet solutions 

A finance lease allows businesses to use equipment while making fixed payments. Ownership remains with Shire.

Hire Purchase enables customers to spread the cost of equipment and own it at the end by paying an Option to Purchase Fee. VAT is usually paid upfront.

Shire buys equipment recently purchased by the customer and leases it back to them, providing a cash injection and preserving working capital.

A master lease sets a credit limit allowing multiple equipment purchases under one agreement and one direct debit.

A fixed-rate loan repaid monthly or quarterly. Early settlement includes all future interest.

A flexible hire agreement allowing higher payments during profitable months and lower payments during quieter periods.

A lease for vehicles where the customer rents the vehicle and returns it at the end of the term. Excess mileage and condition charges may apply.

Using existing equipment as collateral for a new lease to raise funds. Requires valuation, proof of title and is subject to terms. 

Mentioned under seasonal lease as part of flexible payment options but not defined separately.

Yes, through sale and leaseback or refinance, provided the asset meets criteria such as being unencumbered and within valuation limits.

Shire take out its own insurance to insure the asset and will charge back the premium through the Customer’s rental payments. There is no charge to the customer if they provide evidence of a sufficient insurance policy to our insurer.

Only under Hire Purchase agreements, and only after all payments and the Option to Purchase Fee are made.

Finance Lease: At the end of the term you can continue to use the equipment and carry on paying your rentals, you can return the equipment or speak to your supplier about upgrading.

Hire Purchase: Pay the Option to Purchase Fee to gain ownership.