What is asset finance?
Asset finance, more specifically scaffold finance and leasing, ensures UK businesses acquire essential assets for their company by spreading the cost over a term, usually 1-5 years. It enables scaffolding contractors to access the funding needed for their materials and equipment. Here at Scaffold Finance this ranges from vehicles, scaffold materials, technology and even business loans.
Is it just hard assets you finance?
No, as mentioned above we offer finance for a range of assets. This includes most scaffolding materials from tubes, boards, and modular buildings to technology such as drones, CCTV, and IT hardware, to vehicles such as vans and trucks as well as business loans in the form of VAT, Corporation Tax and Professional Indemnity Insurance. For more information on what we can finance, please see our assets we finance page.
Can I finance scaffolding materials sold by another contractor?
Yes, you can. However, it depends on a couple of criteria. The company you are purchasing them from must be a reputable business. You must also make sure they can provide the finance company with an invoice.
What do I need to do to apply for scaffold finance and leasing?
Applying for finance via Scaffold Finance is very easy. All that we will require is your company name, the cost of the asset, your latest set of year end accounts and your last 3 months business bank statements.
I have recently set up my scaffolding business, can you still help me?
If your business is a ‘new start’ (trading for less than 2 years), you’ll need to have clear personal credit history, be a UK homeowner (or have a third party guarantor who is a UK homeowner) and provide a Directors Guarantee.
Do I own the materials at the end of the agreement?
Yes, you can own the materials at the end of the lease agreement. Once you have paid your monthly payments in full and terminated your agreement, there is a nominal fee to pay. Once payment has been received, the ownership of the materials can then be then transferred to your company.
If you would like to see more scaffold finance and leasing frequently asked questions, then please visit our leasing hub page. You can give us a call on 01494 506 383. Alternatively, get in touch with us by sending an email to email@example.com.