When setting up a new gym or expanding an existing business, the purchasing of fitness equipment is a significant outlay that often requires a six-figure sum.

Many businesses, especially start-ups, have been held back by poor access to finance in the past. However, Portman Asset Finance understands these pressures and provides fast and flexible finance solutions that new or established fitness businesses need to fulfil their ambitions.

Portman has helped grow more than 10,000 UK companies by arranging over half a billion pounds to support them since being established in 2007.

As fitness sector experts, Portman understands the challenges businesses face and has spent years developing strong relationships with key equipment suppliers, meaning it can fund almost any tangible asset.

With access to over 40 of the UK’s top lenders, offering a range of products with finance available from £10,000 to £2,000,000, Portman can help secure the right deal for each customer.

Options include lease finance, hire purchase, business loans and refinance. With lease finance, for example, business owners can let the new equipment pay for itself as they use it, rather than pay upfront in one lump sum. Their working capital is therefore preserved, allowing them to invest funds into other areas of the business. With rates from as little as 2.5%, flexible monthly payments can be spread over periods of up to 10 years and costs can be offset against tax.

As well as funding gym equipment, Portman’s finance agreements cover associated items such as flooring, air conditioning, lockers, changing rooms and member management systems.