We have been supporting both the construction and SME industry for close to 30 years, helping businesses of all sizes finance the tools and equipment they need to help them grow.
We know that companies need to be properly equipped to grasp the opportunities created by continued year-on-year growth in the construction industry – this sector’s output alone tops £100 billion annually, equating to around 6.5% of the UK economy. Over 2.1 million people are employed in various roles, making up 6.2% of the UK total.
We see it as our role to help businesses benefit from the broad recovery of the economy, and to provide access to finance, allowing our customers to ramp up production. This, coupled with the ever-increasing demand for more machinery and equipment, means business owners are on the lookout for new ways to finance their expanding businesses.
Operating on a partnership model, we employ a team of dedicated experts, most of which have first-hand experience of the construction industry and understand the pressures the sector faces.
This approach is particularly useful because it’s one thing to have access to finance, but having a structured deal suited to individual needs is completely different because it gives businesses peace of mind that their assets are secure and won’t be repossessed.
As an example, we understand that some businesses operate seasonally and have the attendant fluctuations of cash flow, which is one of the key indicators of a business’ health; we use asset finance as a mechanism to ensure it’s not a barrier to growth.
As an alternative and fast-growing form of finance, asset finance gives businesses access to the equipment, vehicles, plant and technology they need to perform, without compromising cashflow. It can be used to finance both new and second-hand assets, or even as a mechanism for releasing value from existing assets.
As an indicator of the size of the asset finance lending market, the Finance and Leasing Association says its members provided over £22 billion of asset finance to businesses and the public sector, representing over 30% of all fixed capital investment (excluding property and own-account software) in the UK.
Our products include:
- Hire Purchase, which enables the acquisition of an asset while paying for it in instalments over an agreed timescale – the term. At the end of the term, the business has the option to purchase the asset outright.
- Refinancing - a quick way to access the value of assets on the existing balance sheet of a business, redeploying the value elsewhere within a business – for example, to fund a deposit on new equipment or unlock some working capital to ease cash flow.
- Our Finance Lease arrangement lets businesses use the equipment needed without having to buy it outright. Rent is paid for the full use of it. The rental period (the primary lease term) is flexible and can be tailored to usage needs and cash flow.
- Similar to a Finance Lease, an Operating Lease allows businesses to rent the asset from us while it's needed. The key difference between the two is that an Operating Lease is only for part of the asset’s useful life.
Typical construction assets we finance include:
- Demolition equipment
- Site plant
For more information visit our dedictaed construction sector page or complete our enquiry form to speak to one of our finance specialists.