The practical answer
Only if the lender agrees under the contract or a documented variation; it is not an automatic feature of asset finance.
Contact the lender before a payment is missed and explain the cash position and realistic recovery plan. Ask how any proposed change affects interest, term, total payable and reporting.
Do not cancel the payment instruction on the assumption that a request has been accepted. Obtain written confirmation of an agreed arrangement and keep paying according to the current terms until it changes.
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: Compare finance structures →