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Home > Case Studies > Equipment Finance > Finance equipment, don’t rent
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Residential Housing Contractor

Finance equipment, don’t rent

Clear Business Finance helps a residential housing contractor to repackage their finance application, avoiding the need to rent equipment and subsequently reducing monthly outgoings.

Equipment Finance Construction
The Challenge

A construction company who specialises in the building of residential housing was experiencing challenges when trying to obtain funding for capital equipment within their business. The main problem was that the shareholders were associated with a business that had failed in the past. This resulted in their bank rejecting the application and failing to support them in their hour of need.

The client’s inability to obtain an equipment finance agreement through their normal funding channels, meant they were dependent on expensive short term rental agreements. This was becoming a massive draw on cash flow and was eating away at their margin.

Key Facts

Amount Financed
£27,500
Product
Equipment Finance, Hire Purchase
Location
Harrow, Middlesex
Speed of approval
48 hours

The Results

Clear Business Finance took the time to understand the customers plans and how the required funding would enhance their business. Subsequently, we put together a comprehensive cost justification proposal for the acquisition of a new Manitou MT1440 Telehandler and demonstrated how this would reduce overheads and increase profitability. As a result, from within our panel of lenders we secured the client a £27,500 Hire Purchase facility over a 60-month term on very competitive rates.

Immediate monthly savings were made because the client no longer needed to rent the equipment on expensive short-term agreements which they had been paying between 30% - 40% more for. By having the Manitou MT1440 Telehandler as part of their own fleet, they could sub-let the machine to generate additional revenue and more importantly the asset was now at their immediate disposal, meaning they could react more quickly to business opportunities as and when they arise. Title of the machine would also pass to the client at the end of the agreed term meaning they would own the asset outright.

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Success Stories

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EQUIPMENT FINANCE
Amount Financed
£3,525,746

We all want the right tools for the job, so you will be pleased to hear we’ve made acquiring equipment a whole lot easier.
#DealOfTheWeek

Term 4 Years
Equipment New Large Litho Printer
Submit your finance application
BUSINESS LOANS
Amount Financed
£65,746

Always want the latest technology?
Well this is how we’ve helped businesses to keep up with ever-evolving computer-controlled machinery. #DealOfTheWeek

Term 4 Years
Equipment New Large Litho Printer
Submit your finance application

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Opening hours (Exc bank holidays)
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Clear Business Finance is the trading name of Clear Asset Finance Limited, registered in England, company number 07462914.
Authorised and regulated by the financial conduct authority under registration number 668175. Clear Business Finance is an independent finance broker not a lender. Registered address: 113 – 117 Farringdon Road, London, EC1R 3BX.

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