Construction Asset Finance

Asset Finance For Construction Businesses

Read our detailed asset finance guide or enquire now for personalised advice

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Gary Hemming

Author: Gary Hemming CeMAP CeFA CeFA CSP

20+ years experience in asset finance

We work with our lending partners to offer market leading, specialist funding for the construction industry. Investment in plant and machinery is crucial for those wanting to succeed in the industry.

Whether you’ve won a new contract, or you’re looking to upgrade your existing equipment, we can help.

By using asset finance, you can secure the equipment you need, without having to pay out a large cash lump sum to secure it. Spreading your cost using asset finance can also have tax and VAT benefits.

We have years of experience in providing funding for UK business owners. Read on below to find out more or fill in the form to talk to an expert.

Equipment We Can Fund

We can consider any construction equipment, including:

  • Access platforms
  • Vehicles
  • Bulldozers
  • Cranes
  • Crushers
  • Demolition equipment
  • Diggers and mini-diggers
  • Excavators
  • Forklifts
  • Generators
  • JCBs
  • Screeners
  • Site plant

Our Products

We’ve been established since 2000 and in that time have built strong relationships with the leading business funding lenders across the market. We’re highly experienced and pride ourselves on securing market-leading terms for our clients.

We can fund almost any equipment purchase and can even raise capital for your business by refinancing existing assets.

Funding can be arranged from as little as £10,000 and we have no maximum facility size. Our construction finance rates start from as little as 3% per annum.

The Advantages of Construction Finance

Purchasing your new equipment using asset finance can have a number of benefits for construction companies.

Protect Your Working Capital:

 Instead of paying out a large lump sum to acquire new equipment, by using asset finance, you can keep your cash in the business.

Flexible Payment Terms

It can be tailored to suit your business, with flexible payment terms and low monthly costs.

Fixed Monthly Payments

Benefit from fixed monthly payments, so you always know exactly where you stand.

Tax and VAT Benefits

Asset finance is a tax efficient way of purchasing new assets and some products will even offer VAT benefits.

Protection From Depreciation

Protect yourself against depreciating assets by passing on the risk to your provider.

Does My Business Qualify?

We can offer funding for most UK businesses and are happy work with sole traders, partnerships, LLPs, limited companies and PLCs.

In order to qualify, the asset that you wish to purchase must be considered as suitable security for the funder. Each funder has their own definition of acceptable assets, so we will work on your behalf to find the right fit.

Finally, as with any finance application, affordability is key, and you will need to prove that you can afford the repayments.

What Is the Application Process?

We always aim to make the application process as simple as possible for our clients. Our application process runs as follows:-

  • You discuss your requirements over the phone with your dedicated business finance expert.
  • They will take down details of what you’re looking for and will then find a suitable funding partner for you.
  • You discuss your requirements over the phone with your dedicated business finance expert. They will take down details of what you’re looking for and will then find a suitable funding partner for you.
  • We will send you the details of the best proposal by email and then call to explain.
  • If you’re happy with the terms offered, we will handle the application for you, submitting it to the lender on your behalf.
  • Once the lender has assessed and accepted your application, the asset can be purchased, and you can enjoy the use of it.

In total, the process usually takes around seven days.

What Information Will You Require?

In order to allow us to assess your application, we will usually require the following information:-Details of the asset that you wish to purchase – make and model details.The age and mileage/hours for used items.Details of yourself and your business.Details of your credit history.Accounts and bank statements for your business.

Can You Offer Other Types of Funding for The Construction Industry?

Yes. Asset finance is an excellent product for those looking to purchase new equipment for their business, but there are other strong options for those looking to raise capital. The main options are:-

  • Business Loans – Business loans can be used to raise funds to assist cash flow, drive the business forward or refinance more expensive debt. Unsecured business loans can be arranged quickly and, with a number of new lenders entering the market in recent years, there is more choice available than ever before.
  • Asset Refinance – Asset refinance can be used to raise capital by using your current assets as security for lending. As you’re offering security, lenders will generally offer better interest rates than unsecured loans.
  • Invoice Finance – Invoice finance can be used to release funds from invoices on the day that they’re raised, without having to wait 30-90 days for them to be paid. This is a popular option for both releasing a cash lump sum, and as a long term cash flow management tool.
  • Business Revolving Credit Facilities – These can be used to provide a cash buffer for your business should you need it. These facilities are designed to be used, repaid and used again as and when funds are needed.

Want help finding your perfect solution?

Request a callback from our team of experts at a time convenient for you.