Introduction
Understanding asset types helps when considering finance options. Assets are usually grouped based on how they’re used and valued.
The five common asset types
1. Tangible assets
Physical items such as vehicles, machinery, and equipment.
2. Intangible assets
Non-physical assets like software, licences, or intellectual property.
3. Fixed assets
Assets used long-term, such as buildings or major equipment.
4. Current assets
Items expected to be used or converted into cash quickly, like stock.
5. Financial assets
Things like investments, shares, or cash holdings.
Which assets are suitable for asset finance?
Asset finance mainly focuses on:
- Tangible assets
- Fixed assets
These are easier to value and secure against.
Why asset type matters
Lenders need confidence that:
- The asset holds value
- It supports business activity
- It can be resold if needed
That’s why vehicles and machinery are common choices.
🔵 Get in touch with TMS Finance Today
This new page represents our commitment to faster, smarter business finance. TMS Finance continues to invest in tools that make funding accessible and straightforward. Whether you need £10,000 or £500,000, our team is ready to support you.
If you want quick clarity on your funding options, visit our new business funding eligibility page today. Our specialists are looking forward to helping you take your next step with confidence.