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Hire Purchase (HP) for quarry plant is often used for new or used excavators, dumpers, crushing and screening equipment, loaders and associated workshop or plant. Lenders typically look for a UK-based quarrying business with trading history, a clear match between the specified equipment and quarry operations, and satisfactory credit history and sector track record. Terms are commonly 36 to 84 months, and amounts often range from £25,000 up to £500,000 for plant purchases, depending on underwriting. Decision times are often around 1 to 3 weeks for straightforward applications.

Refinance asset finance is designed for quarry SMEs that already own plant, or have existing finance exposure to machinery. The lender assesses current asset ownership, outstanding balances if refinancing, asset condition and valuation and related residual value assumptions. Where settlement is required, pay-out arrangements are agreed as part of the refinance process. Typical amounts are commonly £50,000 to £750,000, with terms often 24 to 72 months. Decision times are typically 2 to 4 weeks due to validation of asset position and legal and valuation checks.

Operating lease arrangements are commonly used when quarry operators want predictable costs and flexibility, particularly for short to medium life assets or when resale value is uncertain. Eligibility is driven by creditworthiness and the lessor’s assessment of acceptable resale value, along with trading accounts and an assessment of the equipment under the lease structure. Typical amounts often range from £20,000 to £600,000 per asset or equipment line. Terms are often 24 to 60 months, and effective costs may be comparable to borrowing once you consider lease rentals and residual assumptions. Decision times are often 1 to 3 weeks for standard proposals.