Armada Asset Finance: products, terms and eligibility

Armada Asset Finance is a UK provider of asset finance. The legal entity named on its site is Armada Investments Ltd (trading as Armada Asset Finance), company number 01140855. It is based in Topsham, Devon. Companies House shows the company was incorporated 1973.

Armada Asset Finance is a trading name of Armada Investments Ltd, incorporated in 1973 (company number 01140855) and authorised and regulated by the FCA. It says it has been providing equipment and soft asset finance for over 50 years, through broker networks. Its registered office is in Topsham, Devon.

Everything on this page comes from what Armada Asset Finance publishes itself. We show the date we last checked it, and we do not rate or rank lenders.

Armada Asset Finance publishes one product for UK businesses. The table above gives the amounts and terms as it states them.

Asset finance (equipment and soft assets)

Equipment and soft asset finance available only through its broker network, not directly to end users. It says it funds from £2,000 to £250,000 and specialises in soft assets, particularly in hospitality and leisure, and will consider unusual equipment. Proposals are underwritten by people rather than automatically. Product structure, security and terms are not described on the pages read.

Armada Asset Finance says its finance is used for:

• Soft asset finance
• Hospitality and leisure equipment
• Unusual equipment
• Start-up business equipment

Sectors and business types it says it funds:

• Hospitality
• Leisure

Armada Asset Finance publishes these criteria. Meeting them does not mean an application will be accepted: every lender makes its own decision.

• Start-ups and established businesses considered.
• Financial commitment from directors expected.
• Proposals submitted by approved brokers.
• Established businesses: proposal form, bank statements and latest accounts; start-ups: proposal form, business plan if available and bank statements.

Armada Asset Finance describes its process like this:

1. The broker submits a completed proposal form giving permission for a credit search.
2. The broker supplies supporting documents.
3. Armada’s underwriters review the proposal manually and give a decision to the broker.

Information it says it asks for:

• Completed asset finance proposal form with credit search permission
• Recent bank statements
• Latest full accounts and current management accounts if available (established businesses)
• Business plan if available (start-ups)

Every application is subject to status and the lender’s own criteria at the time.

Asset finance spreads the cost of equipment, vehicles or machinery, with the asset itself as the main security. Under hire purchase you own the asset once the final payment is made; under a lease you pay to use it and hand it back, extend or replace it at the end.

Lenders look at the asset’s age, condition and resale value as well as the business, and many fund used as well as new equipment. Sector pages such as transport and logistics finance and construction finance show how it is used in practice.

Points Armada Asset Finance publishes that are worth knowing:

• Financing is only available through its broker network.
• Considers unusual or intangible assets, with sectors including leisure, hospitality and office and shop fit-outs.
• Carries out its own credit searches.
• Underwriting is described as human rather than credit-score led.

Security and guarantees

Security and guarantee requirements are not stated on the pages read.

Armada Asset Finance’s site states: “Armada Asset Finance is a trading name of Armada Investments Ltd. Registered office: Armada House, Odhams Wharf, Topsham, Devon, EX3 0PB. Registered in England & Wales no. 1140855. Authorised and Regulated by The Financial Conduct Authority.”

Protections differ by borrower type and loan size. Most lending to limited companies is not regulated consumer credit, so read the agreement and ask the lender what applies to you.

Other providers of asset finance with profiles here include Davenham Asset Finance, Dawsongroup Finance and Haydock Finance. Each profile uses that lender’s own published terms.

The full list, grouped by product type, is in our directory of UK business lenders.

Capzy is a credit broker, not a lender, and gets paid by the lender. One application lets your business compare options across lenders, so you can weigh this kind of facility against the alternatives. You can check your funding options with a soft search that does not affect your credit score. A full application to a lender may involve a hard search, and any offer is subject to status and lender criteria.