Security

Commercial finance for security businesses

The UK private security sector plays a key role in maintaining public safety in the community and at home. With police numbers having fallen in recent times the sector has expanded to cover some of the duties that were once the responsibility of public services.

To support this vital work private security firms require financing that is adaptable to their operational and strategic needs, and that protects cash flow from unpredictable changes in the market.

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Challenges facing the private security sector

A combination of factors, including Brexit and Covid-19, has led to recruitment problems in the private security sector. A key issue is that some workers from Europe have not sought to renew their visas and licenses following Brexit.

Exposure to coronavirus whilst on the ‘front line’ during the pandemic has also led some security personnel to rethink their employment goals. The cost of training, licensing, and further top-up training may also be a factor.

Finding finance for security firms

UK Business Finance are commercial finance brokers with experience in helping the security sector in the UK. We can provide quotes for a range of funding types that are appropriate for security businesses, and our services are free of charge to our clients.

Security businesses could benefit from access to vehicle and equipment finance and refinance, for example. We undertake whole-of-market searches to find the most suitable deals.

Commercial finance for the security sector

Vehicle finance
Purchasing a vehicle outright may be out of reach financially for many businesses and is not necessarily the best way to acquire such an expensive asset. Vehicle finance using hire purchase or leasing agreements enables businesses to gain immediate use of a vehicle or fleet without such a significant outlay of capital.

Equipment finance and refinance
Equipment finance facilitates the purchase of equipment assets by spreading the cost over a fixed instalment plan – typically a hire purchase agreement or equipment lease lasting several years.

Refinancing an existing piece of equipment is another option if the asset is already wholly owned by the business. It provides a lump sum of cash and a regular fixed repayment schedule under a sale and lease back arrangement. Crucially, there is no interruption to usage for the business.

Applying for security sector finance

Initially, you need to obtain a variety of quotes to compare and decide on the most appropriate lender for your needs. Our team understands the security sector and can provide quotes on secured and unsecured loans, asset finance, vehicle finance, invoice finance, and commercial mortgages.

UK Business Finance are commercial finance brokers, rather than lenders. We do not charge you for our services and will write the applications to lenders on your behalf. Please get in touch with one of the team to find out more.

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Our team of finance experts can provide industry-leading advice on mortgages to suit a range of different scenarios. Call the team on 0808 301 0624 or Contact Us