Author and review
Written by: Hart Asset Finance
Reviewed by: T & L Leasing Limited trading as Hart Asset Finance
Last reviewed: 2026-07-28
Commercial finance broker guidance covering asset finance, hire purchase, leasing, VAT finance, refinance and SME business funding.
Overview
Asset refinance and business loans can both raise capital, but refinance is linked to assets your business already owns or is financing. A business loan may be based more broadly on trading strength, affordability and lender criteria.
Comparison table
| Security | Uses existing assets such as vehicles or machinery. | May be unsecured or supported by guarantees/security. |
| Use of funds | Working capital, deposits, consolidation or cash flow. | Stock, wages, growth, tax, projects or general cash flow. |
| Decision factors | Asset value, age, condition and ownership position. | Turnover, bank conduct, trading history and affordability. |
| Best for | Businesses with value tied up in hard assets. | Businesses needing flexible funding without one asset purchase. |