Sale and hp back is a means of asset finance whereby you can release capital in a business asset that you already own. A finance company buys your asset at an agreed value and then finances it back to you under a hire purchase agreement.
For many companies, this sale and hire purchase back approach may be preferable to a sale and lease back arrangement for example, since once all the hp repayments have been made, your business will once more own the asset.
The asset involved might be a piece of machinery, some equipment perhaps, or a vehicle, and could be new or used. Whatever it is, and whatever its recognised value, sale and hp back enables you to use it to raise capital while still retaining use of it to generate income.