What are the different finance options for financing scaffolding materials?
There are 3 different types of finance agreements. Lease, Hire Purchase and a Commercial Loan.
How long can I finance scaffolding over?
The minimum term is 1 year, and the maximum term is 5 years.
Can I finance used scaffolding materials?
Yes, you can. We do request that you let us know upfront whether the materials are new or used.
What other assets can I finance?
Trucks and commercial vans are very common assets to finance. We have also financed caravans, site offices, forklifts and even drones. If the asset is relevant to your business, we can finance it for you.
Can I finance scaffolding materials that are being sold by another scaffolding contractor?
Yes. As long as the company you are purchasing them from is a reputable business and can provide the finance company with an invoice.
Do I own the scaffolding materials at the end of the finance?
Yes. 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, ownership of the materials is then transferred to your company.
Can I finance scaffolding materials that are currently on hire?
Yes, you can transfer your hire materials over to sale. Scaffold Finance will then finance the sale element for you.
What information do you need to submit a finance application?
We will require 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 you have clear personal credit, you’re a homeowner and you’re happy to offer a Directors Guarantee then we’ll be able to submit an application for you.
How long does an application take before I know it has been approved?
As a general rule, you’ll receive your decision within 48 hours. On occasions, we will be able to let you sooner. It could also take longer than 48 hours.
Do I have to use a specific supplier?
No, you can choose your supplier. As long as your supplier is a registered business in the UK or Ireland.
What other types of finance do you offer?
We can arrange VAT loans, Corporation Tax loans and Professional Indemnity Insurance finance.