The practical answer
Potentially. A new lender can consider settling the current eligible agreement. A current settlement figure and accurate asset details are key starting information.
Obtain the existing lender’s written settlement, expiry date and release requirements. Match the quote to the exact asset or group of assets involved.
Compare new fees, all future payments and any final amount with keeping the current agreement. Confirm whether old guarantees are released and whether new ones are required.
Commercial finance is subject to status, lender approval and the specific asset and transaction. The right structure depends on the complete circumstances of the business.
What should I do next?
Have the asset details, supplier information and an outline of what the business needs ready. DCF can then discuss the requirement and identify which lenders may be suitable.
Read: Refinance existing agreements →