Commercial Finance FAQs
Find answers to the most common questions about commercial finance.
📜 Credit Process
- Types of Finance
- Who can apply for Commercial Asset Finance?
- Do we finance startups or new businesses?
- How do I apply with VFI?
- Is there a minimum amount for finance?
- How much can I borrow?
- What happens if I have other loans or debt payments?
- What documents are required for each application?
- How do I get a tax clearance certificate?
- How long does an application take?
- What credit checks are carried out?
- Does a negative credit rating affect your finance application?
- Who does Vendor Finance use for their Funding?
- Do you need a deposit?
- What interest rates are charged?
- Are interest rates fixed or variable?
- What factors affect the credit decision?
- How is an application assessed?
- What term of finance do you provide?
- What happens if I am declined?
- Why Your Application Might Be Declined
- What to Do if You’re Declined
- Is there a credit appeal office?
- Are there any fees or charges with VFI?
- What are documentation fees?
- Interim fees for seasonal payments
- Can I get pre-approved?
- What dealers do you work with?
- How do I sign the finance agreement?
- What types of ID are acceptable for proof of identity?
- Do Vendor Finance use ID verification systems?
- What is required for a proof of address?
💰 Finance Options
- HP, Leasing and Business Loan Options
- Refinancing
- Sale Lease Back & Sale HP Back
- What are the benefits of asset finance funding?
- What funders are used?
- What interest rate is charged?
- What types of payment options and terms do you offer?
- What role does the dealer play?
- What types of assets do we fund?
- Can we fund second hand assets?
- Does the mileage or number of hours on a machine effect the application?
- What cannot be funded through asset finance?
- Can we finance assets sourced abroad?
- Can non-Irish domiciled customers or business apply for finance?
- How do the assets get paid?
- Can I choose my own supplier?
- Can I finance an asset from a private seller?
- Does asset finance impact your CCR?
- How many finance agreements can you have?
- Who can apply for commercial asset finance?
- Can new startup businesses apply for asset finance?
- Do startups require additional information?
- Do I have to be VAT registered to access asset finance?
- Claiming VAT - difference between HP and Lease for VAT treatment?
- Do grants have any effect?
- SBCI Funding?
🚗 Types of Asset Finance
- What types of agri equipment and vehicles can be financed?
- What types of commercial vehicles can be financed?
- What types of trucks can be financed?
- What types of construction equipment can be financed?
- Can we finance motorhomes or camper vans?
- Can you purchase assets from abroad using foreign dealers?
- Can we finance private sales?
- Can you transfer your finance agreement?
- Can we finance intangible goods such as intellectual property or software?
- What ages of assets can be financed?
- Does your asset need to be insured?
- What happens if the asset breaks down - merchantable quality issues?
- What is the role of the dealer?
- Assets that can’t be financed.
- Motorbike finance?
- Commercial finance for private consumers/ PAYE.
- Can we fund custom made or bespoke assets?
📞 Customer Service
- What is a settlement figure in a finance agreement?
- How is a settlement figure calculated?
- Can I request a settlement figure at any time?
- Are there penalties for settling early?
- Will settling early affect my credit rating?
- What do I do if I am unable to make a payment?
- Who do I contact about my finance agreement?
- I want to trade in, what happens to my finance agreement?
- How do I settle off my finance agreement?
- Vendor Finance Ireland Ltd. St. Vincent’s Business Centre, Unit 2, Finisklin Rd, Cartron, Sligo, F91 N243
- 071 931 0137
- info@vendorfinance.ie
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