Equipment Finance for Construction - Get a Quote
Equipment finance for construction offers businesses a streamlined way to access vital machinery like excavators, cranes, and bulldozers. By spreading the cost over time, companies can enhance operational capabilities without hefty upfront investments. This solution is pivotal for advancing construction projects efficiently and economically.
- Quick and easy application process
- Loan disbursed within 24 hours
- No additional charges for early repayment
What are the benefits of Equipment Finance for Construction?
The primary advantage of construction equipment finance is the access to essential tools without the burden of large initial costs. Our solutions provide flexible repayment terms and potential tax benefits. With borrowing facilities ranging from £5,000 to £500,000 and competitive rates, we align business needs with strategic financial planning.
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What are the different types of Equipment Finance for Construction?
Hire Purchase
Perfect for UK SMEs, hire purchase provides financing amounts from £25,000 to £500,000 over 12 to 60 months, enabling firms to own machinery eventually. This is ideal for purchasing heavy-duty equipment such as cranes and bulldozers, aligning with business timelines.
Finance Lease
Designed for established SMEs, finance lease offers financing from £10,000 to £250,000 with terms up to 84 months. Companies can access high-value equipment without immediate ownership, ideal for projects requiring earthmovers.
Operating Lease
Operating leases cater to businesses requiring short-term equipment use, with funding options from £5,000 to £150,000 across 6 to 36 months. This approach benefits firms undertaking temporary projects like site development.
What is Equipment Finance for Construction?
Application Process Explained
The application process for construction equipment finance involves providing basic business information, financial statements, and credit history. Once verified, a decision is typically made within 1 to 3 weeks as lenders assess the application's completeness.
Compliance & Regulatory Overview
Understanding compliance is critical; all finance agreements adhere to UK consumer credit laws, ensuring transparency. Engaging with licensed providers guarantees lawful operations and protects business interests, aligning with CIS regulations.
Borrowing Capacity & Rate Considerations
Borrowing capacity in equipment finance hinges on credit scores, financial health, and type of machinery. Typical APR ranges from 3% to 15%, influenced by business creditworthiness and term lengths, ensuring competitive options that fit financial goals.
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