Question 1

Can plant be funded against a contract that has not started yet?

Accepted Answer

Often, yes. A signed contract or letter of intent is strong supporting evidence, particularly for a newer business taking on a step up in work.

Funders will still look at trading history and the machine's resale value, but a committed job makes the case considerably easier.

Question 2

How are excavators, dumpers and attachments usually structured?

Accepted Answer

Most plant goes on hire purchase over three to five years, sometimes with a balloon set against the expected trade-in value so the monthly payment matches what the machine earns. Buckets, breakers and attachments can be added to the same agreement rather than bought out of cash.

Question 3

Can site accommodation and welfare units be financed?

Accepted Answer

Yes. Cabins, welfare units, drying rooms, generators and site security are all fundable, typically over three to five years, and they hold value well because the hire market for them is strong.

Question 4

What about retentions and slow payment from main contractors?

Accepted Answer

It is the single most common cash flow issue in the sector and funders understand it. Quarterly payments, a short initial deferral or refinancing owned plant to release working capital are all used to bridge the gap between doing the work and being paid for it.

Question 5

I have never used a finance broker before. Is it more hassle?

Accepted Answer

Less, in our experience. You complete one application and one conversation with us. We then approach the funders on your behalf, rather than you filling in separate forms for your bank, the dealer's finance arm and anyone else you might have approached. We handle the paperwork, the funder's questions and the chase-up, and we come back to you with the options set out plainly. You keep the decision; we do the legwork. It also protects your credit file. Rather than several lenders searching you in a short space of time, we place the proposal with the funders most likely to say yes to that particular asset and business.

Question 6

What types of assets can be funded?

Accepted Answer

Broadly, anything identifiable, durable and used for business purposes. In practice that means: tractors; combines and harvesters; balers, mowers and forage equipment; telehandlers and loaders; ATVs, side-by-sides and utility vehicles; grain handling, storage and drying plant; livestock housing, feeding and handling equipment; milking parlours and robotic milking systems; irrigation and water management; groundscare machinery including greens mowers, fairway units, sprayers and top dressers; construction plant such as excavators, dumpers and rollers; commercial vehicles, vans and trailers; solar arrays, battery storage and other renewables; and IT, software and telematics. If an asset is unusual we will say so early. Specialist or bespoke equipment can usually be funded, though the funder panel narrows and the structure may differ.

Construction finance

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Construction finance: common questions

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