Unlock your potential
At Braemar Finance, our customers are more than just a credit score - we base our lending decisions on the overall health and plans of a business.
We focus on building relationships and understanding the needs of our customers to support their growth and we have a proud history of supporting our customers through all economic cycles.
Our team of experts, who are based across the UK and Ireland, provide a personalised service and respond to customers’ needs quickly and efficiently.
Specialists in flexible finance
Braemar Finance has been providing funding to:
• Medical professionals - dentists, vets, opticians and pharmacists
• Care, residential and nursing homes
• Funeral directors
• Legal professionals
• Accountants
Hire Purchase
Spread the cost over time
How Hire Purchase works
Hire Purchase is a smart way to acquire the equipment you require for your business because you get to choose, use, and repay the assets over an agreed period, typically over a five-to-seven-year period, or the useful life of the asset.
The regular instalments cover the capital cost of the asset and the interest. At the end of the term of the Hire Purchase agreement, once all repayments have been made, ownership of the asset is transferred to you.
Who is Hire Purchase for?
Hire Purchase is appropriate for all business types (sole traders, partnerships and incorporated entities) that need to invest in modern, up-to-date equipment while keeping control of their cash flow by knowing what their investments are going to cost them over the long-term, meaning they can budget effectively.
An example of how it can work for you
Imagine you are a dentist and require a new dental chair. Instead of paying for it in full, you can opt for Hire Purchase, which allows you use of the asset over an agreed period, while repaying an agreed monthly instalment. At the end of the term, you will own the equipment outright.
Benefits of Hire Purchase
More time to repay: By spreading the cost over the life of the asset, you can lower the initial up-front payment. This matters because it gives you a long-term view of the fixed monthly payments you will need to make over the term of the agreement
Flexibility: Repayment terms can be tailored to suit your individual circumstances
Interest charges: Hire Purchase can allow interest charges to be offset against profits for taxation
Tax efficient: Financing your asset using Hire Purchase can be tax-friendly, offering potential tax benefits. We would always encourage our customers to seek guidance from their accountants
Reclaim VAT: If you’re VAT registered, you may be able to reclaim VAT. For those unable to reclaim VAT, for example dentists, we can fund the VAT over the term of the agreement, which offers additional cash flow benefits. For details on VAT registration, visit www.revenue.ie/en/vat/vat-registration/index.aspx
Warning: You may have to pay charges if you pay off a fixed-rate loan early.
Finance is secured against the asset and/or equipment. If you’re unable to keep up with your payments, we may repossess the asset and/or equipment.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
Leasing
Benefits for the user without the tie of ownership
How Leasing works
Leasing is a type of asset finance that allows you to use the equipment you need without having to buy it outright at the end of the agreement.
You pay us ‘rent’ for the full use of the asset over an agreed term, which can be tailored to your individual circumstances. Over this period, you will pay the full cost of the asset, including interest.
Then, when you reach the end of the agreement, you can choose to:
• Continue to use the asset by payment of a nominal annual sum
• Sell the asset and keep most of the income from the sale
• Return the asset back to us
• Sign a destruction notice if the asset has no economic value and is no longer in use and cannot be resold
Who is Leasing for?
Leasing is appropriate for all business types (sole traders, partnerships and incorporated entities).
Leasing is for businesses that need equipment but prefer not to purchase it outright. It’s suitable for companies looking to use equipment, vehicles, or technology without a large upfront cost.
An example of how Leasing could work for you
Imagine you run a dental practice and are in the market for a new 3D dental scanner. Instead of buying it, you opt for a Finance Lease. We purchase the scanner and lease it to you, and you pay the agreed monthly rent, covering the scanner’s cost and the interest. In this case, ownership is not the primary concern because of the rate at which technology progresses, and there is a good chance you will want to replace the asset at the end of the agreement.
Benefits of Leasing
Improve cash flow: You can quickly get the equipment you want without paying a large upfront sum. Instead, payments are broken into monthly installments
Flexibility: Repayment terms can be tailored to suit your individual circumstances
Cash back: If you choose to sell the asset at the end of the lease, you keep a portion of the income from the sale
Tax efficient: The lease payments you make in any financial year can be offset against your taxable profits
Reclaim VAT: (if you are VAT registered). For more information on VAT registration, please visit www.revenue.ie/en/vat/vat-registration/index.aspx
Warning: If you do not meet the repayments on your credit agreement, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.
Finance is secured against the asset and/or equipment. If you’re unable to keep up with your payments, we may repossess the asset and/or equipment.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
Business Loans
Available to assist when you need funds to invest in your business
How do Business Loans work?
Business Loans, also known as practice loans, are used to fund investment in your business when you need it and can be used for various purposes, including buying into or starting up a new business or practice, a renovation or simply to cover cash flow. In the Republic of Ireland, Business Loans are only available to Incorporated entities - Limited companies.
Who are Business Loans for?
This product is suitable for those who need the funding to start, grow or manage their business.
It’s often used to fund intangible investments, like training, professional development, and energy efficiency.
An example of how it can work for you
Let’s say you own a optical practice that requires refurbishment. To fund the renovation project, you look at getting a loan to minimise the impact to your cash flow.
It will enable you to purchase multiple elements required from builders’ renovation costs, cabinetry and furniture, all under one agreement.
Benefits of Business Loans
Access to capital: It can provide essential funds needed to help your business achieve its objectives, without depleting their cash reserves
Business growth: With additional funds, you can invest in your business to drive growth and increase profitability
Manage cash flow: Lets you spread the cost of large expenses into more manageable fixed monthly payments, allowing you to budget effectively
Flexibility: Repayment terms can be tailored to suit your individual circumstances
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
If you miss or expect to miss a repayment under your loan agreement, please get in touch with us straight away to discuss it with our team.
The risks of missing a repayment under your loan agreement are that we may:
• Cancel our agreement with you and require you to repay the full amount of the loan immediately
• Disclose information about your loan to the credit reference agencies
• Set off any amounts you owe us under the agreement against any funds you hold with us in other accounts
• Take enforcement action against you to recover any amounts you still owe if necessary
• Restrict your access to any other credit facilities you have with us and require you to immediately repay those facilities
Tax Loans
Available to assist with your tax bill
How do Tax Loans work?
Tax Loans are designed to help your business manage your cash flow. This unsecured loan works by spreading the cost of your tax bill into more manageable monthly repayments. We can fund corporation tax, capital gains, cross over tax and inheritance tax. In the Republic of Ireland, Tax Loans are only available to Incorporated entities - Limited companies.
Who are Tax Loans for?
Tax Loans are suitable for businesses who have tax liabilities due and want to spread the cost over a set period.
An example of how it can work for you
Imagine you are a business owner, and you receive a tax bill which was larger than expected. Rather than paying the full amount upfront, you look at getting a Tax Loan to spread the cost of your tax bill into more manageable monthly repayments.
Benefits of Tax Loans
Timely payment: The loan can be paid into a bank account of your choice or directly to Revenue, allowing you to have your bill paid on time, avoiding any late penalties or charges
Fixed monthly payments: It can help you spread this recurring expense into manageable fixed monthly payments
Flexibility: Repayment terms can be tailored to suit your individual circumstances
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
If you miss or expect to miss a repayment under your Tax Loan agreement, please get in touch with us straight away to discuss it with our team. The risks of missing a repayment under your loan agreement are that we may:
• Cancel our agreement with you and require you to repay the full amount of the loan immediately
• Disclose information about your loan to the credit reference agencies
• Set off any amounts you owe us under the agreement against any funds you hold with us in other accounts
• Take enforcement action against you to recover any amounts you still owe if necessary
• Restrict your access to any other credit facilities you have with us and require you to immediately repay those facilities
To speak to your local expert, please get in touch braemarfinance.ie (01) 902 6694
Close Brothers Limited (being a UK registered private limited company and its Irish registered branch of the same name having registration number 907899), trading as (and having as registered business names) Close Brothers Asset Finance, Close Brothers Commercial Finance, Close Brothers Motor Finance and Braemar Finance, is authorised by the Prudential Regulation Authority in the United Kingdom and is regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom. UK registered address: 10 Crown Place, London, EC2A 4FT, registered at Companies House, Number 00195626.
Close Brothers DAC (being an Irish registered designated activity company having registration number 706530) trading as Close Brothers Commercial Finance, Close Brothers Asset Finance, Close Brothers Motor Finance and Braemar Finance and is regulated by the Central Bank of Ireland. Registered address: Swift Square, Building 1 Santry Demesne, Northwood, Dublin 9, D09 A0E4, Ireland.